Blue Spruce Corp. uses the percentage-of-receivables method for recording bad debt expense. The Accounts Receivable balance is $400000 and credit sales are $1600000. Management estimates that 6% of accounts receivable will be uncollectible. What adjusting entry will Blue Spruce Corp. make if the Allowance for Doubtful Accounts has a credit balance of $4000 before adjustment
Answers: 3
Business, 22.06.2019 01:00, avablankenship
Data pertaining to the current position of forte company are as follows: cash $437,500 marketable securities 170,000 accounts and notes receivable (net) 320,000 inventories 700,000 prepaid expenses 42,000 accounts payable 240,000 notes payable (short-term) 250,000 accrued expenses 310,000 required: 1. compute (a) the working capital, (b) the current ratio, and (c) the quick ratio. round ratios to one decimal place. 2. compute the working capital, the current ratio, and the quick ratio after each of the following transactions, and record the results in the appropriate columns of the table provided. consider each transaction separately and assume that only that transaction affects the data given. round to one decimal place. a. sold marketable securities at no gain or loss, 75,000. b. paid accounts payable, 135,000. c. purchased goods on account, 100,000. d. paid notes payable, 105,000. e. declared a cash dividend, 125,000. f. declared a common stock dividend on common stock, 45,000. g. borrowed cash from bank on a long-term note, 205,000. h. received cash on account, 130,000. i. issued additional shares of stock for cash, 635,000. j. paid cash for prepaid expenses, 15,000.
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Business, 23.06.2019 00:00, SoccerHalo
Todd and jim learned that in building a business plan, it was important for them to:
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Business, 23.06.2019 02:10, netflixacc0107
Ben is the owner of a small organization with a few employees. he plans to have a data warehouse for the limited number of users in his organization. which data warehouse is most suited for ben's organization? o a. lan-based o b. stationary o c. distributed od. virtual
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Business, 23.06.2019 12:30, kkruvc
Ricardo is sure he has what it takes to succeed in the food business, but because he lacks management experience, he wants one that will provide the most training and support. which of these possibilities would be his best choice? a. subway b. old macdonald's bed and breakfast c. fuzzy's tavern d. ricardo's café
Answers: 1
Blue Spruce Corp. uses the percentage-of-receivables method for recording bad debt expense. The Acco...
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