Business, 06.04.2020 18:01 TheMixingToad
1. Prior to recording the following, Elite Electronics, Inc. had a credit balance of $1,000 in its Allowance for Doubtful Accounts. Required:Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)a. On August 31, a customer balance for $200 from a prior year was determined to be uncollectible and was written off. b. On December 15, the customer balance for $200 written off on August 31 was collected in full.2. Young and Old Corporation (YOC) uses two aging categories to estimate uncollectible accounts. Accounts less than 60 days are considered young and have a 3% uncollectible rate. Accounts more than 60 days are considered old and have a 35% uncollectible rate. Required:If YOC has $111,000 of young accounts and $390,000 of old accounts, how much should be reported in the Allowance for Doubtful Accounts?Amount to be Reported3. If YOC’s Allowance for Doubtful Accounts currently has an unadjusted credit balance of $39,000, how much should be credited to the account?Amount to be Credited 5. If YOC’s Allowance for Doubtful Accounts has an unadjusted debit balance of $4,900, how much should be credited to the account?Amount to be Credited6. Fraud Investigators Inc. operates a fraud detection service. a. On March 31, 10 customers were billed for detection services totaling $31,000.b. On October 31, a customer balance of $1,800 from a prior year was determined to be uncollectible and was written off. c. On December 15, a customer paid an old balance of $840, which had been written off in a prior year. d. On December 31, $560 of bad debts were estimated and recorded for the year. Prepare journal entries for each transaction above. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Answers: 3
Business, 22.06.2019 01:30
Standardization is associated with which of the following management orientations? a) ethnocentric orientation b) polycentric orientation c) regiocentric orientation d) geocentric orientation
Answers: 1
Business, 22.06.2019 08:00
Who is not spending wisely? erika goes shopping and saves her receipts. she totals how much she spent and writes it down. mia needs to buy a new pair of shoes because she joined the soccer team. she looks at newspaper ads to find the best price. lauren has been thinking about getting a puppy for a long time. she walks by the pet store at the mall and decides to get a puppy. erin makes a purchase online using a credit card. she knows that she can pay the entire bill when it arrives.
Answers: 2
Business, 22.06.2019 10:30
Issued to the joint planning and execution community (jpec) initiates the development of coas; it also requests that the supported ccdr submit a commander's estimate of the situation with a recommended coa to resolve the situation (joint force command and staff participation in the joint operation planning and execution system, page 10)
Answers: 2
Business, 22.06.2019 11:20
Stock a has a beta of 1.2 and a standard deviation of 20%. stock b has a beta of 0.8 and a standard deviation of 25%. portfolio p has $200,000 consisting of $100,000 invested in stock a and $100,000 in stock b. which of the following statements is correct? (assume that the stocks are in equilibrium.) (a) stock b has a higher required rate of return than stock a. (b) portfolio p has a standard deviation of 22.5%. (c) portfolio p has a beta equal to 1.0. (d) more information is needed to determine the portfolio's beta. (e) stock a's returns are less highly correlated with the returns on most other stocks than are b's returns.
Answers: 3
1. Prior to recording the following, Elite Electronics, Inc. had a credit balance of $1,000 in its A...
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