42 dollars is not the correct answer
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42 dollars is not the correct answer
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- The excel calculations are incorrect in places like the rounding and the other values need explanation as to their calculation. Every cell should contain a formula except the given values for the captured NWC. I don't understand the B6 calculation. B3 reflects the investment not the depreciation. Isn't year 0 deprc $0Sally Goodenough owes ABC Company $100. ABC has decided that Sally is not going to pay them. ABC will: Group of answer choices do nothing Record bad debt expense of $100 Decrease its allowance for doubtful accounts Increase accounts receivable $10050% 40% 30% 20% 10% Total Sales Bad Debts Knowledge Check 01 The allowance method of accounting for bad debts has the following advantages over the direct write-off method including: (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.) Records estimated bad debts expense in the period when the related sales are recorded. Records estimated bad debts expense when the account receivable is determined to be uncollectible. Reports accounts receivable on the balance sheet at the estimated amount of cash to be collected. Reports sales on the income statement at the estimated amount of cash to be collected.
- For April 8 ($11,416) and April 20 ($8,827), the values are incorrect. What are the correct values and how would you go about solving them?I need help with 5,7, and 12 please 5. Number of days in sales in receivables 7. number of days in sales in inventory 12. return on total asset i have tried working on them myself and nothing appears to be correct. Please help me on these last 3 questions for these questions i need the answer in dollar amounts as its asking for the current asset-current liabilities=calculated value i understand that number 5 is 365/16 but i need the dollar amount and number 7 is 365/6 i just need the dollar amount. Then 12 i need the dollar amount for number 5 i know its 6250000 i would assume its divided by 10000000 and get 22.8 days but my professor said it was wrong. number 7 i tried 1070000/5350000 and got 73 days which is still wrong number 12 i tried 1300000/9267500=14% and professor said wrong toobackground info: Green checkmark means that entry is correct, red is wrong. There is only supposed to be a total of 19 entries. look at 1 picture with the complete journal and adjust to fit the allowance method to go into the second table with green and red corrections. The first entry....you are removing the account so you have to remove the allowance and related receivable (2 parts) The second entry...you want to record the cash received, the removal of the allowance and related receivable (3 parts) The third entry...recording a credit sales (2 parts) The fourth entry...setting up receivable and the allowance (2 parts) The fifth entry...record collection of a previously recorded credit sale (2 parts) The sixth entry...record collection of a previously recorded credit sale (2 parts) The seventh entry...adjusting the allowance by reducing the allowance and reducing 5 customer receivable accounts (6 parts) 1. Finalize the journal entries shown on the Fan-Tastic Sports Gear Inc. panel…
- None2. A warehouse owned by Martha and used in her business (i.e., to store inventory) is being condemned by the city to provide a right-of-way for a highway. The warehouse has appreciated by $180,000 based on Martha’s estimate of its fair market value. In the negotiations, the city is offering $35,000 less than what Martha believes the property is worth. Alan, a real estate broker, has offered to purchase Martha’s property for $20,000 more than the city’s offer. Martha plans to invest the proceeds she will receive in an office building she will lease to various tenants. Identify the relevant tax issues for Martha. Would the answer in part (1) change if Martha’s warehouse was property being held for investment rather than being used in her business? Explain.how did you get 700 in unearedn storage revenue
- Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.please help me to solve this problem and please do not give answer in image formate1. A hotel receives advance payment of 2,500,000 from a conference organizer. This is not a sale due to the ______ principle. 2. Resto Supplies, Inc. takes a 32,000 loss on a number of older ovens in its inventory; it paid the manufacturer 107,000 for them but can sell them for only 75,000 Choices: a. Full disclosure principle b. Time period assumption c. Materiality constraint d. Cost Principle e. Revenue recognition principle f. Conservatism Constraint g. Matching principle h. Economic entity assumption i. Monetary unit j. Going concern k. Some other answers
