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Questions -
Q1. The Miller Company recognized $127,000 of service revenue earned on account during Year 2. There was no beginning balance in the accounts receivable and allowance accounts. During Year 2, Miller collected $84,000 of cash from accounts receivable. The company estimates that it will be unable to collect 3% of its sales on account. What the net realizable value of Miller's receivables at the end of Year 2?
A. $46,810
B. $43,000
C. $39,190
D. $40,480
Q2. Anton Company uses the perpetual inventory method. Anton purchased 480 units of inventory that cost $5 each. At a later date the company purchased an additional 660 units of inventory that cost $10 each. If Anton uses the FIFO cost flow method and sells 800 units of inventory, what the amount of cost of goods sold?
A. $8,000
B. $5,600
C. $4,000
D. $7,400
Problem - Accounts Receivable Analysis - Determine the number of days' sales in receivables for both companies. Round to one decimal place
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Windsor Corporation had a projected benefit obligation of $504,700, plan assets of $342,200, Find the pension asset or liability at December
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