At the end of the current year (before adjusting entries), summer corporation had a balance of $ 88 comma 000 in accounts receivable and a credit balance of $ 11 comma 000 in allowance for uncollectible accounts. service revenue (all on credit) for the year totaled $ 470 comma 000. read the requirement 1. using the percent-of-sales method, calculate the amount of uncollectible-account expense if summer corporation estimates its uncollectible-account expense using a rate of 3% of credit sales. what is the ending balance of the allowance for uncollectible accounts under this scenario? summer corporation has $ of uncollectible-account expense using the percent-of-sales method. the ending balance of the allowance for uncollectible accounts is $ under this scenario. requirement 2. now assume that summer corporation uses the aging-of-receivables method. summer corporation estimates that its allowance for uncollectible accounts should have a credit balance of $ 26 comma 000. calculate the amount of its uncollectible-account expense. what is the ending balance of the allowance for uncollectible accounts under this scenario? summer corporation has $ of uncollectible-account expense using the aging-of-receivables method. the ending balance of the allowance for uncollectible accounts is $ under this scenario.

Acompany factory is considered which type of resource a. land b. physical capital c. labor d. human capital

The following transactions occur for badger biking company during the month of june: a. provide services to customers on account for $32,000. b. receive cash of $24,000 from customers in (a) above. c. purchase bike equipment by signing a note with the bank for $17,000. d. pay utilities of $3,200 for the current month. analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (decreases to account classifications should be entered as a negative.)

Cardinal company is considering a project that would require a $2,725,000 investment in equipment with a useful life of five years. at the end of five years, the project would terminate and the equipment would be sold for its salvage value of $400,000. the company’s discount rate is 14%. the project would provide net operating income each year as follows: sales $2,867,000 variable expenses 1,125,000 contribution margin 1,742,000 fixed expenses: advertising, salaries, and other fixed out-of-pocket costs $706,000 depreciation 465,000 total fixed expenses 1,171,000 net operating income $571,000 1. which item(s) in the income statement shown above will not affect cash flows? (you may select more than one answer. single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. any boxes left with a question mark will be automatically graded as incorrect.) (a)sales (b)variable expenses (c) advertising, salaries, and other fixed out-of-pocket costs expenses (d) depreciation expense 2. what are the project’s annual net cash inflows? 3.what is the present value of the project’s annual net cash inflows? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 4.what is the present value of the equipment’s salvage value at the end of five years? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 5.what is the project’s net present value? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.)