Business, 02.07.2019 20:10 lattimore12
P8-1b. allowance method steinbrook company, which has been in business for three years, makes all of its sales on account and does not offer cash discounts. the firm’s credit sales, collections from custom-ers, and write-offs of uncollectible accounts for the three-year period are summarized as follows: year sales collections accounts written off2015 $751,000 $733,000 $5,3002016 876,000 864,000 6,2002017 975,000 938,000 6,500required a. if steinbrook company used an allowance method of recognizing credit losses and provided for such losses at the rate of one percent of credit sales, what amounts of accounts receivable and the allowance for doubtful accounts should appear on the firm’s balance sheet at the end of 2017? what total amount of bad debts expense should appear on the firm’s income statement during the three-year period? b. comment on the use of the one percent rate to provide for credit losses in part a.
Answers: 1
Business, 22.06.2019 11:20, angeline2004
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
Business, 22.06.2019 21:40, andyboehm7411
The following items could appear on a bank reconciliation: a. outstanding checks, $670. b. deposits in transit, $1,500. c. nsf check from customer, no. 548, for $175. d. bank collection of note receivable of $800, and interest of $80. e. interest earned on bank balance, $20. f. service charge, $10. g. the business credited cash for $200. the correct amount was $2,000. h. the bank incorrectly decreased the business's by $350 for a check written by another business. classify each item as (1) an addition to the book balance, (2) a subtraction from the book balance, (3) an addition to the bank balance, or (4) a subtraction from the bank balance.
Answers: 1
P8-1b. allowance method steinbrook company, which has been in business for three years, makes all of...
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