For each of the following scenarios, calculate the amount of the adjusting journal entry for Bad Debt
Expense to be recorded, the balance in Allowance for Doubtful Accounts after adjustment at December
31, and the net realizable value of accounts receivable at December 31. (12 pts)
(a) Based on an analysis of Simmons Company’s $380,000 balance in Accounts Receivable at December
31, it was estimated that $15,500 will be uncollectible. There is a debit balance of $1,200 in Allowance for
Doubtful Accounts before adjustment.

(b) Blake Company had credit sales of $900,000 at year-end, an Accounts Receivable balance of $425,000
at December 31, and an Allowance for Doubtful Accounts debit balance of $11,000 before
adjustment. Blake estimates bad debt expense as 3⁄4 of 8% of credit sales.

Jiffy printing shops does a lot of printing job for college students. the shop use an average of 25 cases of copy paper each day during the 312 days last year. the shop opens 6 days a week for 52 weeks each year and closes on sundays. each case of paper costs $35. it conducts a count of its paper inventory at the end of every quarter of the year. the table below shows the inventory counting records for last year. inventory end of quarter 1 700 cases end of quarter 2 1,050 cases end of quarter 3 920 cases end of quarter 4 800 cases 1. what's jiffy's cost of goods sold last year? 2. what's jiffy's average aggregate inventory value? 3. what's jiffy's inventory turnover last year? 4. what is the printing shop's weeks of supply last year?

According to fiedler, in situations that are very unfavorable for the leader, it would be wise to choose someone who: a. is task oriented. b. is likely to engage in behaviors that are classified as consideration behaviors. c. has a low lpc score. d. has a high lpc score.

The mccolls have made an offer on a new home. the home is new construction and scheduled to be completed by the end of the year. they provide a purchase deposit--a check in the amount of $40,000--to their agent, suzette. suzette, at the broker's direction, deposits the earnest money in the broker's trust fund account within two business days of receipt of the funds. did suzette follow the proper procedures? a. no, the check should not have been cashed. if a check is used as an earnest money deposit, it is to be held until acceptance of the offer. the seller must also be informed the buyer's check is being held and not negotiated. b. yes, suzette deposited the earnest money in the broker's trust fund account as directed. she also deposited the check within three business days of receipt. unless there were written instructions to hold the check until acceptance of the offer, the check may be cashed. c. no, suzette needed to deposit the earnest money in the broker's trust fund account within two days of receipt, not necessarily two business days. d. both a and c