Rosie dry cleaning was started on january 1, 2018. it experienced the following events during its first two years of operation: events affecting 2018 provided $45,000 of cleaning services on account. collected $39,000 cash from accounts receivable. adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. events affecting 2019 wrote off a $300 account receivable that was determined to be uncollectible. provided $62,000 of cleaning services on account. collected $61,000 cash from accounts receivable. adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. required organize the transaction data in accounts under an accounting equation for each year. determine the following amounts: (1) net income for 2018. (2) net cash flow from operating activities for 2018. (3) balance of accounts receivable at the end of 2018. (4) net realizable value of accounts receivable at the end of 2018. determine the following amounts: (1) net income for 2019. (2) net cash flow from operating activities for 2019. (3) balance of accounts receivable at the end of 2019. (4) net realizable value of accounts receivable at the end of 2019.

Baldwin has negotiated a new labor contract for the next round that will affect the cost for their product bold. labor costs will go from $7.91 to $8.41 per unit. in addition, their material costs have fallen from $13.66 to $12.66. assume all period costs as reported on baldwin's income statement remain the same. if baldwin were to pass on half the new costs of labor and half the savings in materials to customers by adjusting the price of their product, how many units of product bold would need to be sold next round to break even on the product?

wilson's has 10,000 shares of common stock outstanding at a market price of $35 a share. the firm also has a bond issue outstanding with a total face value of $250,000 which is selling for 102 percent of face value. the cost of equity is 11 percent while the preminustax cost of debt is 8 percent. the firm has a beta of 1.1 and a tax rate of 34 percent. what is wilson's weighted average cost of capital?

Assume that all of thurmond company’s sales are credit sales. it has been the practice of thurmond company to provide for uncollectible accounts expense at the rate of one-half of one percent of net credit sales. for the year 20x1 the company had net credit sales of $2,021,000 and the allowance for doubtful accounts account had a credit balance, before adjustments, of $630 as of december 31, 20x1. during 20x2, the following selected transactions occurred: jan. 20 the account of h. scott, a deceased customer who owed $325, was determined to be uncollectible and was therefore written off. mar. 16 informed that a. nettles, a customer, had been declared bankrupt. his account for $898 was written off. apr. 23 the $906 account of j. kenney & sons was written off as uncollectible. aug. 3 wrote off as uncollectible the $750 account of clarke company. oct. 20 wrote off as uncollectible the $1,130 account of g. michael associates. oct. 27 received a check for $325 from the estate of h. scott. this amount had been written off on january 20 of the current year. dec. 20 cater company paid $7,000 of the $7,500 it owed thurmond company. since cater company was going out of business, the $500 balance it still owed was deemed uncollectible and written off. required: prepare journal entries for the december 31, 20x1, and the seven 20x2 transactions on the work sheets provided at the back of this unit. then answer questions 8 and 9 on the answer sheet. t-accounts are also provided for your use in answering these questions. 8. which one of the following entries should have been made on december 31, 20x1?