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Question 1: In 2018, Marg's Antiques deducted a reserve for doubtful debts of $12,000. During 2019, she had actual write-offs of $11,000. At the end of 2019, she deducted a reserve for doubtful debts of $14,000. Marg's 2019 net deduction for bad debts would be:
a. $12,000.
b. $11,000.
c. $13,000.
d. $14,000.
Morrison Corporation has sales of $350,000, variable costs of $125,000, and fixed costs of $100,000. What is the company's degree of operating leverage?
Pretax accounting income includes interest revenue from municipal bonds (not taxable). This interest revenue is $25,000 in 2010, $30,000 in 2011, and $32,000 in 2012. The enacted tax rate is 40%. Create the journal entry to record income taxes for ..
Southeast Suites operates a regional hotel chain. Each hotel is operated by a manager and an assistant manager/controller. Many of the staff who run the front desk, clean the rooms, and prepare the breakfast buffet work part time or have a second job..
what assumptions have you made about demand, price, volume, capital purchase costs, incremental hiring, and so on?
Should the company disclosure this matter in the footnote to the company finacial statememt at year end ? Should the company record a loss reserve at year end
Calculate the equity method balance in Corgan's investment in smashing, inc., account as of december 31, 2011. prepare the worksheet adjustment for the december 31, 2011, consolidation of corgan and smashing.
(Learning Objective 1: Explain the purposes of the statement of cash flows) State how the statement of cash flows helps investors and creditors perform each of the following functions:
Prepare the journal entries to record the bond issue on January 1, Year 1, and the bond redemption on December 31, Year 5. Entries for accrual.
Determine the profit margin of your company for the past three years. What can the company do to increase their profit margin?
What is the average annual pretax profit anticipated for this new venture? What is the average annual profit after tax, under the assumed 40 percent income tax?
Calculate the price and mix variance for each material used, calculate the total material yield and total material usage variance.
Explain and describe the impact on the audit report if the issue remain unresolved. Issue 1 Depreciation has been calculated on the total of land and buildings.
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