Current Attempt in Progress The balance sheet of Windsor Company at December 31, 2019, includes the following. Notes receivable $52,400 Accounts receivable 190,000 Less: Allowance for doubtful accounts 24,500 $217,900 Transactions in 2020 include the following. 1. Accounts receivable of $149,300 were collected including accounts of $66,800 on which 3% sales discounts were allowed. 2. $5,540 was received in payment of an account which was written off the books as worthless in 2019. 3. Customer accounts of $24,700 were written off during the year. 4. At year-end, Allowance for Doubtful Accounts was estimated to need a balance of $23,800. This estimate is based on an analysis of aged accounts receivable.

Grant, inc., acquired 30% of south co.’s voting stock for $200,000 on january 2, year 1, and did not elect the fair value option. the price equaled the carrying amount and the fair value of the interest purchased in south’s net assets. grant’s 30% interest in south gave grant the ability to exercise significant influence over south’s operating and financial policies. during year 1, south earned $80,000 and paid dividends of $50,000. south reported earnings of $100,000 for the 6 months ended june 30, year 2, and $200,000 for the year ended december 31, year 2. on july 1, year 2, grant sold half of its stock in south for $150,000 cash. south paid dividends of $60,000 on october 1, year 2. before income taxes, what amount should grant include in its year 1 income statement as a result of the investment?

Sonic corp. manufactures ski and snowboarding equipment. it has estimated that this year there will be substantial growth in its sales during the winter months. it approaches the bank for credit. what is the purpose of such credit known as? a. expansion b. inventory building c. debt management d. emergency maintenance

What’s the present value of a perpetuity that pays $250 per year if the appropriate interest rate is 5%? $4,750 $5,000 $5,250 $5,513 $5,788what is the present value of the following cash flow stream at a rate of 8.0%, rounded to the nearest dollar? cash flows: today (t = 0) it is $750, after one year (t = 1) it is $2,450, at t = 2 it is $3,175, and at t=3 it is $4,400. draw a time line. $7,917 $8,333 $8,772 $9,233 $9,695