You are testing your client's allowance, recorded at $1,500,000, with a monetay unit sample. Thefollowing results are at a 2-sided confidence level of 90%.Lower confidence limit$1,200,000 uncollectibleUpper confidence limit$1,900,000 uncollectibleMax. tol. misstatement:$500,000The client already has a previously recognized a $1.500.000 allowance for uncollectiblesrecorded.Which of the following would be a materially correct DR or CR adjustment amount?a.DR Allowance $500,000CR Allowance $500,000No adjustment needed.CR Allowance$1,550,000b.d:

Introduction: An allowance is a deposit set up in anticipation of future costs. The creation of a…

Answered: following results are at a 2-sided…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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.
nstructions uiz. Question 4 If ratios computed on forecasted "pro forma" financial statements are out of acceptableE tolerances, it is an indication that the forecast is faulty and must be redone. True O False « Previous No new data to save. Last checked at 3:33pm JUL étv 4. MacBook Air 吕0 000 000 F6 F7 F8 F3 F4 F5 *
NAME Barney, R. S. Fisk, M. C. Hayes, W. O. Lee, L. B. Parks, S. J Tempy, E. B. EARNINGS EARNINGS EARNINGS UNEMPLOYMENT SECURITY MEDICARE 1,932.00 1,932.00 1,932.00 1,932.00 567.00 567.00 567.00 567.00 483.00 483.00 483.00 483.00 679.00 679.00 679.00 679.00 578.00 578.00 578.00 578.00 546.00 546.00 546.00 546.00 4.785.00 4,785.00 4,785.00 4,785.00 DATE ..... 20-- Jan. 7 Assume that the payroll is subject to an employer's Social Security tax of 6.2 percent on the first $118,500 and a Medicare tax of 1.45 percent on all earnings. Also assume that the federal unemployment tax is 0.6 percent, and that the state unemployment tax is 5.4 percent of the first $7,000. 1,932.00 567.00 483.00 Give the entry in general journal form to record the payroll tax expense. If an amount box does not require an entry, leave it blank. If required, round your intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations. 679.00 578.00 546.00 4,785.00…
1
Finance State Probability Stock ABC Stock DEF Depression .3 -.10 - .05 Normal .3 .10 .12 Boom .4 .16 .08 What is the correlation between Stock ABC and Stock DEF?What is the standard deviation of return for Stock DEF?What is the expected return for Stock ABC?show how to solve this and answer Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Do not provide Excel Screet shot rather use tool table Answer completely.
Use the sample data and confidence level given below to complete parts (a) through (d). A drug is used to help prevent blood clots in cortain patients. In olinical trials, among 4202 patienta treated with the drug, 120 developed the adverse reaction of nausea. Construct a 96% confidence interval for the proportion of adverse reactions a) Find the best point estimate of the population proportion p. (Round to three decimal places as needed.)
Please please sir answer both sir I have no more question sir.. I will rate your performance sir.
Which of the following returns is best described as a guess and is based on an individual's expected outcomes and probability of those outcomes? This was also described as your "guess at the beginning of the semester". Realized Expected Required Promsied
if your supervisor tells you to change the aging category of a large account from over 120 days to current status and prepare a new invoice to the customer with the revised date that agrees with this new category this will change the required allowance from for uncollectible accounts from $180, 000 to $135,000. How do you think this misstatement of funds will impact your income statement and your balance sheet?
2. Which of these distributions would you expect to have the highest standard deviation? Age of children in a fourth grade classroom Height of players on a high school basketball team Number of books read by people in New York State Number of M&Ms in a sample of 10 M&M packets
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