At the end of the current year (before adjusting entries), Spring Corporation had a balance of $76,000 in Accounts Receivable and a credit balance of $7,000 in Allowance for Uncollectible Accounts. Service revenue (all on credit) for the year totaled $480,000. Read the requirements. Using the percent-of-sales method, calculate the amount of Uncollectible-Account Expense if Spring Corporation estimates its uncollectible-account expense using a rate of 2% of credit sales. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario? Spring Corporation has $ of uncollectible-account expense using the percent-of-sales method. The ending balance of the Allowance for Uncollectible Accounts is $ under this scenario. Now assume that Spring Corporation uses the aging-of-receivables method. Spring Corporation estimates that its Allowance for Uncollectible Accounts should have a credit balance of $22,000. Calculate the amount of its Uncollectible-Account Expense. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario? Spring Corporation has $ of uncollectible-account expense using the aging-of-receivables method. The ending balance of the Allowance for Uncollectible Accounts is $ under this scenario.

If you offer up your car as a demonstration that you will pay off your loan to a bank or another financial lending institution, you are using your car as collateral. true false

The uno company was formed on january 2, year 1, to sell a single product. over a 2-year period, uno’s acquisition costs have increased steadily. physical quantities held in inventory were equal to 3 months’ sales at december 31, year 1, and zero at december 31, year 2. assuming the periodic inventory system, the inventory cost method which reports the highest amount for each of the following is inventory december 31, year 1/ cost of sales year 2 a: lifo fifo b: lifo lifo c: fifo fifo d: fifo lifo

< back to assignment attempts: 1 1 keep the highest: 1 / 2 2. determining opportunity cost juanita is deciding whether to buy a suit that she wants, as well as where to buy it. three stores carry the same suit, but it is more convenient for juanita to get to some stores than others. for example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $102 for the suit: store travel time each way price of a suit (minutes) (dollars per suit) local department store 15 102 across town 30 88 neighboring city 60 65 juanita makes $42 an hour at work. she has to take time off work to purchase her suit, so each hour away from work costs her $42 in lost income. assume that returning to work takes juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. as you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. complete the following table by computing the opportunity cost of juanita's time and the total cost of shopping at each location. store opportunity cost of time price of a suit total cost (dollars) (dollars per suit) (dollars) local department store 102 across town 88 neighboring city 65 assume that juanita takes opportunity costs and the price of the suit into consideration when she shops. juanita will minimize the cost of the suit if she buys it from the . grade it now save & continue continue without saving