During burns company's first year of operations, credit sales totaled $180,000 and collections on credit sales totaled $125,000. burns estimates that bad debt losses will be 1.0% of credit sales. by year-end, burns had written off $500 of specific accounts as uncollectible. required: 1. prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense. 2. show the year-end balance sheet presentation for accounts receivable.

Which of the following mechanisms would be most likely to motivate managers to act in the best interests of shareholders? a) decrease the use of restrictive covenants in bond agreements, b) take actions that reduce the possibility of a hostile takeover, c) elect a board of directors that allows managers greater freedom of action, d) increase the proportion of executive compensation that comes from stock options and reduce the proportion that is paid as cash salaries, e) eliminate a requirement that members of the board directors have a substantial investment in the firm's stocks

Last year, western corporation had sales of $5 million, cost of goods sold of $3 million, operating expenses of $175,000 and depreciation of $125,000. the firm received $40,000 in dividend income and paid $200,000 in interest on loans. also, western sold stock during the year, receiving a $40,000 gain on stock owned 6 years, but losing $60,000 on stock owned 4 years. what is the firm's tax liability?

Who has summer school : ( because i do : (