Homework Answers
| a | Advanced $10,000 to an employee. | Other receivables |
| b | Received a promissory note of $34,000 for services performed. | Notes receivable |
| c | Sold merchandise on account for $60,000 to a customer. | Accounts receivable |
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Send to Gradebook Question 8 View Policies Current Attempt in Progress Presented below are three receivables...
please help with this accounting question! Question 8 View Policies Current Attempt in Progress Presented below...
please help with this accounting question!
Question 8 View Policies Current Attempt in Progress Presented below are three receivables transactions Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet. (a) Advanced $10,000 to an employee. (b) Received a promissory note of $34,000 for services performed. c) Sold merchandise on account for $60,000 to a customer. e Textbook and Media List of Accounts
Send to Gradebook Next > Question 5 View Policies Current Attempt in Progress In October, Pine...
Send to Gradebook Next > Question 5 View Policies Current Attempt in Progress In October, Pine Company reports 21,300 actual direct labor hours, and it incurs $113,850 of manufacturing overhead costs. Standard hours allowed for the work done is 25,300 hours The predetermined overhead rate is $4.25 per direct labor hour. Compute the total overhead variance. Total Overhead Variance $ e Textbook and Media Attempts: 0 of 3 used Save for Later Submit Answer Send to Gradebook Nect>
Ch 2: Homework Send to Gradebook Next > Question 11 View Policies Current Attempt in Progress...
Ch 2: Homework Send to Gradebook Next > Question 11 View Policies Current Attempt in Progress Suppose the following information (in millions of dollars) is available for Limited Brands for a recent year: sales revenue $8,780, net income $153, preferred dividend $0, and weighted average common shares outstanding 300 million Compute the earnings per share for Limited Brands. (Round answer to 2 decimal places, eg. 15.25.) -ort Earnings per share $ e Textbook and Media Save for Later Attempts: 0...
CH 14 Homework Send to Gradebook < Prev Next > Question 2 View Policies Current Attempt...
CH 14 Homework Send to Gradebook < Prev Next > Question 2 View Policies Current Attempt in Progress Sunland Manufacturing Company management found that during the last year it took an average of 46 days to pay its suppliers, whereas it took 65 days to collect its receivables. The company's days' sales in inventory was 70 days. What was Sunland's cash conversion cycle? Sunland's cash conversion cycle is days. e Textbook and Media Attempts: 0 of 3 used Save for...
Ch 2: Homework Send to Gradebook < Prev Question 8 --/1 View Policies Current Attempt in...
Ch 2: Homework Send to Gradebook < Prev Question 8 --/1 View Policies Current Attempt in Progress Place a number, 1 through 7. in front of each of the following balance sheet categories to designate the order in which they are to be presented in a classified balance sheet. Long-term investments Current liabilities Stockholders' equity Intangible assets Current assets Long-term liabilities Property, plant, and equipment e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
Send to Gradebook < Prev Question 25 --/1 View Policies Current Attempt in Progress ort The...
Send to Gradebook < Prev Question 25 --/1 View Policies Current Attempt in Progress ort The balance of the Allowance for Doubtful Accounts account at January 1 of the current year was $6,800 credit. During the year, accounts receivable in the amount of $9,000 were written off. Estimated uncollectible accounts expense for the year amounts to $7,200. The balance of the Allowance for Doubtful Accounts account to be reported on the balance sheet at year-end is $14,000. $5,000. O $7,200....
Send to Gradebook < Prev Next > Question 20 --/1 View Policies Current Attempt in Progress...
Send to Gradebook < Prev Next > Question 20 --/1 View Policies Current Attempt in Progress An aging of a company's accounts receivable indicates that $14400 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1160 credit balance, the adjustment to record bad debts for the period will require a O debit to Allowance for Doubtful Accounts for $13240. O credit to Allowance for Doubtful Accounts for $14400. O debit to Bad Debt Expense for $14400. debit...
Send to Gradebook Next> < Prev Question 16 -/1 View Policies Current Attempt in Progress Swifty...
Send to Gradebook Next> < Prev Question 16 -/1 View Policies Current Attempt in Progress Swifty Company had net credit sales during the year of $1300000 and cost of goods sold of $800000. The balance in accounts receivable at the beginning of the year was $150000, and the end of the year it was $110000. What was the accounts receivable turnover? 8.67 11.82 10.00 6.35 Attempts: 0 of 1 used Save for Later Submit Answer Send to Gradebook III
Send to Gradebook < Prev Next > Question 21 --/1 View Policies Current Attempt in Progress...
Send to Gradebook < Prev Next > Question 21 --/1 View Policies Current Attempt in Progress port An aging of a company's accounts receivable indicates that $15500 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1180 credit balance, the adjustment to record bad debts for the period will require a debit to Allowance for Doubtful Accounts for $14320 O credit to Allowance for Doubtful Accounts for $15500. Odebit to Bad Debt Expense for $14320. debit to...
Send to Gradebook < Prev © Sho. Question 2 View Policies Current Attempt in Progress Before...
Send to Gradebook < Prev © Sho. Question 2 View Policies Current Attempt in Progress Before year-end adjusting entries, Sheridan Company's account balances at December 31, 2020, for accounts receivable and the related allowance for uncollectible accounts were $1490000 and $81100, respectively. An aging of accounts receivable indicated that $129000 of the December 31 receivables are expected to be uncollectible. The accounts receivable amount expected to be collected after adjustment is $1408900 51361000 $1279900 $1442100 Attempts: 0 of 1 used...
please help with this accounting question!
Question 8 View Policies Current Attempt in Progress Presented below are three receivables transactions Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet. (a) Advanced $10,000 to an employee. (b) Received a promissory note of $34,000 for services performed. c) Sold merchandise on account for $60,000 to a customer. e Textbook and Media List of Accounts
Send to Gradebook Next > Question 5 View Policies Current Attempt in Progress In October, Pine Company reports 21,300 actual direct labor hours, and it incurs $113,850 of manufacturing overhead costs. Standard hours allowed for the work done is 25,300 hours The predetermined overhead rate is $4.25 per direct labor hour. Compute the total overhead variance. Total Overhead Variance $ e Textbook and Media Attempts: 0 of 3 used Save for Later Submit Answer Send to Gradebook Nect>
Ch 2: Homework Send to Gradebook Next > Question 11 View Policies Current Attempt in Progress Suppose the following information (in millions of dollars) is available for Limited Brands for a recent year: sales revenue $8,780, net income $153, preferred dividend $0, and weighted average common shares outstanding 300 million Compute the earnings per share for Limited Brands. (Round answer to 2 decimal places, eg. 15.25.) -ort Earnings per share $ e Textbook and Media Save for Later Attempts: 0...
CH 14 Homework Send to Gradebook < Prev Next > Question 2 View Policies Current Attempt in Progress Sunland Manufacturing Company management found that during the last year it took an average of 46 days to pay its suppliers, whereas it took 65 days to collect its receivables. The company's days' sales in inventory was 70 days. What was Sunland's cash conversion cycle? Sunland's cash conversion cycle is days. e Textbook and Media Attempts: 0 of 3 used Save for...
Ch 2: Homework Send to Gradebook < Prev Question 8 --/1 View Policies Current Attempt in Progress Place a number, 1 through 7. in front of each of the following balance sheet categories to designate the order in which they are to be presented in a classified balance sheet. Long-term investments Current liabilities Stockholders' equity Intangible assets Current assets Long-term liabilities Property, plant, and equipment e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
Send to Gradebook < Prev Question 25 --/1 View Policies Current Attempt in Progress ort The balance of the Allowance for Doubtful Accounts account at January 1 of the current year was $6,800 credit. During the year, accounts receivable in the amount of $9,000 were written off. Estimated uncollectible accounts expense for the year amounts to $7,200. The balance of the Allowance for Doubtful Accounts account to be reported on the balance sheet at year-end is $14,000. $5,000. O $7,200....
Send to Gradebook < Prev Next > Question 20 --/1 View Policies Current Attempt in Progress An aging of a company's accounts receivable indicates that $14400 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1160 credit balance, the adjustment to record bad debts for the period will require a O debit to Allowance for Doubtful Accounts for $13240. O credit to Allowance for Doubtful Accounts for $14400. O debit to Bad Debt Expense for $14400. debit...
Send to Gradebook Next> < Prev Question 16 -/1 View Policies Current Attempt in Progress Swifty Company had net credit sales during the year of $1300000 and cost of goods sold of $800000. The balance in accounts receivable at the beginning of the year was $150000, and the end of the year it was $110000. What was the accounts receivable turnover? 8.67 11.82 10.00 6.35 Attempts: 0 of 1 used Save for Later Submit Answer Send to Gradebook III
Send to Gradebook < Prev Next > Question 21 --/1 View Policies Current Attempt in Progress port An aging of a company's accounts receivable indicates that $15500 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1180 credit balance, the adjustment to record bad debts for the period will require a debit to Allowance for Doubtful Accounts for $14320 O credit to Allowance for Doubtful Accounts for $15500. Odebit to Bad Debt Expense for $14320. debit to...
Send to Gradebook < Prev © Sho. Question 2 View Policies Current Attempt in Progress Before year-end adjusting entries, Sheridan Company's account balances at December 31, 2020, for accounts receivable and the related allowance for uncollectible accounts were $1490000 and $81100, respectively. An aging of accounts receivable indicated that $129000 of the December 31 receivables are expected to be uncollectible. The accounts receivable amount expected to be collected after adjustment is $1408900 51361000 $1279900 $1442100 Attempts: 0 of 1 used...
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