The Organization for Economic Cooperation and Development (OECD), representing 34 nations, issued a revised set of principles of corporate governance to serve as a benchmark for companies and policymakers worldwide. Group startsTrue or FalseTrue, unselectedFalse, unselected

Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance method for its uncollectible accounts receivable. during the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. at the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. at the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. accounts receivable activity for 2013 was as follows: the company's controller prepared the following aging summary of year-end accounts receivable: prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (if no entry is required for a particular event, select "no journal entry required" in the first account field.) prepare the necessary year-end adjusting entry for bad debt expense. (if no entry is required for an event, select "no journal entry required" in the first account field.) what is total bad debt expense for 2013? calculate the amount of accounts receivable that would appear in the 2013 balance sheet?

Benning manufacturing company is negotiating with a customer for the lease of a large machine manufactured by benning. the machine has a cash price of $980,000. benning wants to be reimbursed for financing the machine at a 9% annual interest rate. (fv of $1, pv of $1, fva of $1, pva of $1, fvad of $1 and pvad of $1) (use appropriate factor(s) from the tables provided.) required: 1. determine the required lease payment if the lease agreement calls for 10 equal annual payments beginning immediately. 2. determine the required lease payment if the first of 10 annual payments will be made one year from the date of the agreement. 3. determine the required lease payment if the first of 10 annual payments will be made immediately and benning will be able to sell the machine to another customer for $68,000 at the end of the 10-year lease.

Dallas company uses a job order costing system. the company's executives estimated that direct labor would be $4,800,000 (160,000 hours at $30/hour) and that factory overhead would be $1,400,000 for the current period. at the end of the period, the records show that there had been 190,000 hours of direct labor and $1,100,000 of actual overhead costs. using direct labor hours as a base, what was the predetermined overhead rate? (round your answer to two decimal places.)