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Questions -
1. Zee Company's cash account in their ledger has a debit balance of $1094. Zee has $162 of outstanding checks and $283 of deposits in transit. Zee's bank statement shows $36 in charges for checks bought from the bank. What is the proper bank balance arrived at when the bank reconciliation was completed?
2. Wellness Corp. has outstanding accounts receivable of $375978 as of December 31st and sales on credit during the year of $1087557. There is also a debit balance of $4283 in the allowance for doubtful accounts. In the company estimates that 4% of it's outstanding receivables will be uncollectible, what will the balance be in the allowance for doubtful accounts after the year end adjustment to record bad debt expense?
3. Wellness Corp. has outstanding accounts receivable of $107028 as of December 31st and sales on credit during the year of $1006254. There is also a debit balance of $5697 in the allowance for doubtful accounts. In the company estimates that 4% of it's net credit sales will be uncollectible, what will the balance be in the allowance for doubtful accounts after the year end adjustment to record bad debt expense?
4. Pool Company prepared an aging analysis of it's accounts receivable at December 31, 2015 and determined that the net realizable value of the receivables was $121469. The Allowance for doubtful accounts at the beginning of the year had a credit balance of $3293. Bad debt expense of $13796 was recorded during the year. Receivables of $1013 were written off during the year. What is gross accounts receivable at December 31st?
assume that you deposited 100000 in a savings account paying an interest of 12 per year compounded monthly. you wish to
fuller company has the following information available for the past quarterdivision x division y division zsales 323000
stanford coop uses a standard cost system to account for the costs of its one product. materials standards are 3.0
2. The SEC noted six reasons why the bill and hold sales recorded by Mattel did not qualify as consummated sales transactions. Identify and discuss the general conditions for recognizing revenue from sales transactions. Also, identify circumst..
Santana Corporation has 400,000 shares of common stock outstanding throughout 2010. calculate the Earnings per share assuming bond conversion
citrus girl company cgc purchases quality citrus produce from local growers and sells the produce via the internet
What is the term for recording costs as assets rather than as expenses? Describe how the decision to record costs as assets, rather than expenses, affects the balance sheet and income statement.
In a 1-2 page paper, discuss five of the ten following laws. Explain why they were enacted. Give a short summary of each law/act that you choose. Explain what it does, who it effects, and how. How does it protect employees and/or employers? What ..
Last year, dividends were declared by the Duval Company, which had earnings totaling $302,000. What was the total amount of the preferred stock dividend?
How does the firm use "Cost-Volume-Profit Analysis" to assess performance? How would you use such a system to measure how costs change as production changes? How do you develop a "break even analysis" for a given firm and how would you use it?
Instructions - Compute the total, price, and quantity variances for (1) materials and (2) labor, and (3) the total variance for manufacturing overhead
ABC & Associates is a public accounting firm that specialises in providing accounting, Calculate the direct and indirect costs rate per professional labour-hour
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