On January 1, Wei company begins the accounting period with a $33,000 credit balance in Allowance for Doubtful Accounts. On February 1, the company determined that $7,400 in customer accounts was uncollectible; specifically, $1,200 for Oakley Co. and $6,200 for Brookes Co. Prepare the journal entry to write off those two accounts. On June 5, the company unexpectedly received a $1,200 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash received.
Answers: 1
Business, 22.06.2019 10:00
What is the difference between an "i" statement and a "you" statement? a. the "i" statement is non-confrontational b. the "you" statement is non-confrontational c. the "i" statement is argumentative d. the "you" statement is neutral in tone select the best answer from the choices provided
Answers: 1
Business, 22.06.2019 10:30
Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u.s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u.s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u.s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u.s. gaap balances to ifrs.
Answers: 1
Business, 23.06.2019 23:00
What is marginal costs and benefits might a tour boat operator consider when deciding whether to purchase a new boat?
Answers: 2
Business, 23.06.2019 23:30
Whereas management must deal with the ongoing, day-to-day complexities of organizations, true leadership includes effectively orchestrating change?
Answers: 2
On January 1, Wei company begins the accounting period with a $33,000 credit balance in Allowance fo...
Mathematics, 19.08.2020 23:01
Mathematics, 19.08.2020 23:01
English, 19.08.2020 23:01
Social Studies, 19.08.2020 23:01
History, 19.08.2020 23:01