Exercise 9-5 Percent of sales method; write-off LO P3 At year-end (December 31), Chan Company estimates its bad debts as 0.80% of its annual credit sales of $717,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $359 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off. Prepare the journal entries for these transactions.
Answers: 2
Business, 22.06.2019 09:50, winterblanco
phillips, inc. had the following financial data for the year ended december 31, 2019. cash $ 41,000 cash equivalents 75,000 long term investments 59,000 total current liabilities 149,000 what is the cash ratio as of december 31, 2019, for phillips, inc.? (round your answer to two decimal places.)
Answers: 3
Business, 22.06.2019 14:30, mathhelppls14
If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided
Answers: 1
Business, 22.06.2019 19:40, mahoganyking16
Chang corp. has $375,000 of assets, and it uses only common equity capital (zero debt). its sales for the last year were $595,000, and its net income was $25,000. stockholders recently voted in a new management team that has promised to lower costs and get the return on equity up to 15.0%. what profit margin would the firm need in order to achieve the 15% roe, holding everything else constant? a. 9.45%b. 9.93%c. 10.42%d. 10.94%e. 11.49%
Answers: 2
Exercise 9-5 Percent of sales method; write-off LO P3 At year-end (December 31), Chan Company estima...
Chemistry, 02.10.2020 15:01
Chemistry, 02.10.2020 15:01
World Languages, 02.10.2020 15:01