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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?
As a newly hired Staff I, you are responsible for analyzing the work papers for one of the clients of your organization. Your client is not clear about why you are asking for information on the following topics
Draft a memo to a client comparing the advantages and disadvantages of using forward contracts and options to hedge foreign exchange risk.
You will have to return the furniture to Cape at the end of ten years (with no compensation). Assuming the annual interest rate of 9%, which option (buying or leasing) is better and by how much?
Assuming that the US Corp. has a December 31 year end, prepare the necessary journal entries to account for the series of transactions involving the purchase.
the following labor standards have been established for a particular productstandard hours per unit 1.7
delille company manufactures both traditional toothpaste and geltoothpaste with each type of toothpaste produced in
question 1 -nbspblueberry corp used to be a leading smartphones maker it is not the leader anymore. in recent years is
in performing financial ratio analysis, what the do the results mean? do the answers provide conclusions on their own, or do we have to pt them in perspective by comparing them to prior periods, other companies or competitiors or industry standard..
Prepare the journal entry to record each of the following independent transaction. (Use the number of the transaction in lieu of a date for identification purposes.)
On January 1, 2010, Parabolic Company issued 8% bonds with a face amount of $72.9 million, dated January 1. The bonds mature in 2025 (15 years). The market yield for bonds of similar risk and maturity is 10%. Interest is paid semiannually.
Criticize the positions taken by Pherson and Collier, and express your own opinion about the similarities and differences that should exist in understanding internal control and assessing control risk for different-sized companies.
abc hardware store is open for business 350 days a year. annual demand for a power cutter at this store is 700 units.
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