Business

Allowance for Doubtful Accounts has an unadjusted balance of $500 at the end of the year, and an analysis of

QUESTION Q1. Allowance for Doubtful Accounts has an unadjusted balance of $500 at the end of the year, and an analysis of accounts in the customers ledger indicates doubtful accounts of $15,000. Which of the following records the proper provision for doubtful accounts?a. Increase Uncollectible Accounts Expense, $14,500; increase Allowance for Doubtful Accounts, $14,500b. Increase […]

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Date: September 2nd, 2020

accounting- Journalize the purchase and sale of the common stock.

QUESTION Brief Exercise 16-2 On August 1, Shaw Company buys 1,000 shares of Estrada common stock for $28,260 cash. On December 1, Shaw sells the stock investments for $34,670 in cash. Journalize the purchase and sale of the common stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record […]

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Date: September 2nd, 2020

accounting-Fargus Corporation owned 51% of the voting common stock

QUESTION Fargus Corporation owned 51% of the voting common stock of Manatee, Inc. The parent’s interest was acquired several years ago on the date that the subsidiary was formed. Consequently, no goodwill or other allocation was recorded in connection with the purchase price.On January 1, 2005, Manatee sold $1,400,000 in ten-year bonds to the public […]

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Date: September 2nd, 2020

accounting-he total amount of employee compensation before deductions

QUESTION Here it is! Thanks!he total amount of employee compensation before deductions are taken out is referred to as_______. (Points : 1) gross pay net pay compensation after withholdings take-home payQuestion 2.2.Unearned subscription revenue appears on the balance sheet as a_______. (Points : 1) long-term asset long-term investment current asset or long-term investment current liability […]

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Date: September 2nd, 2020

accounting-Artistic Metals sold some yard art for $50.00 and collected 6% sales tax

QUESTION Question 1.1.Artistic Metals sold some yard art for $50.00 and collected 6% sales tax. Which journal entry reflects this sale? Ignore inventory and cost of goods sold for this question. (Points : 20) Cash53.00 Sales Revenue53.00 Cash53.00 Sales Revenue50.00 Sales Tax Payable3.00 Cash53.00 Sales Revenue50.00 Sales Tax Expense3.00 Cash50.00 Sales Tax Expense3.00 Sales Revenue53.00Question […]

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Date: September 2nd, 2020