Business, 15.02.2020 02:23 monsterduckgoose
Renue Spa had the following balances at December 31, Year 1: Cash of $15,000, Accounts Receivable of $61,000, Allowance for Doubtful Accounts of $3,750, and Retained Earnings of $72,250. During Year 3, $2,100 of accounts receivable were written off as uncollectible. In addition, Renue unexpectedly collected $500 of receivables that had been written off in a previous accounting period. Services provided on account during Year 3 were $215,000, and cash collections from receivables were $218,000. Uncollectible accounts expense was estimated to be 2 percent of the sales on account for the period. Required a. Organize the transaction data in accounts under an accounting equation. b. Based on the preceding information, compute (after year-end adjustment): (1) Balance of Allowance for Doubtful Accounts at December 31, Year 3. (2) Balance of Accounts Receivable at December 31, Year 3. (3) Net realizable value of Accounts Receivable at December 31, Year 3. c. What amount of uncollectible accounts expense will Renue Spa have for Year 3?
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Suppose someone wants to sell a piece of land for cash. the selling of a piece of land represents turning econ
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Perez, inc., applies the equity method for its 25 percent investment in senior, inc. during 2018, perez sold goods with a 40 percent gross profit to senior, which sold all of these goods in 2018. how should perez report the effect of the intra-entity sale on its 2018 income statement?
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Business, 22.06.2019 12:50
You are working on a bid to build two city parks a year for the next three years. this project requires the purchase of $249,000 of equipment that will be depreciated using straight-line depreciation to a zero book value over the three-year project life. ignore bonus depreciation. the equipment can be sold at the end of the project for $115,000. you will also need $18.000 in net working capital for the duration of the project. the fixed costs will be $37000 a year and the variable costs will be $148,000 per park. your required rate of return is 14 percent and your tax rate is 21 percent. what is the minimal amount you should bid per park? (round your answer to the nearest $100) (a) $214,300 (b) $214,100 (c) $212,500 (d) $208,200 (e) $208,400
Answers: 3
Renue Spa had the following balances at December 31, Year 1: Cash of $15,000, Accounts Receivable of...
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