Description / Instructions: Complete the following Week 1 Assignment in WileyPLUS: * Exercise 8-4 * Exercise 8-11 * BYP 8-1 * BYP 8-2 Question 1 The ledger of Wainwright Company at the end of the current year shows Accounts Receivable $78,000; Credit Sales $810,000; and Sales Returns and Allowances $40,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) If Wainwright uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Wainwright determines that Hiller’s $900 balance is uncollectible. (b) If Allowance for Doubtful Accounts has a credit balance of $1,100 in the trial balance, journalize the adjusting …show more content…
AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF Cash Flows (in thousands) For the year ended December 31, 2011 2010 2009 CASH FLOWS FROM OPERATING ACTIVITIES: Net earnings $43,938 $53,063 $53,157 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation 19,229 18,279 17,862 Impairment charges — — 14,000 Impairment of equity method investment — — 4,400 Loss from equity method investment 194 342 233 Amortization of marketable security premiums 1,267 522 320 Changes in operating assets and liabilities: Accounts receivable (5,448 ) 717 (5,899 ) Other receivables 3,963 (2,373 ) (2,088 )
1.An extensive network of specialized cells that carry information to and from all parts of the body is called the nervous system.
The following information is provided for adjustments prior to closing the books. Lopez and Knepp ask you to enter the adjustments into the spreadsheet, in the two columns to the right of the unadjusted trial balance. (CM2 uses a perpetual inventory system.)
3. What type of bank risk would worry you the most as an account holder? How should the bank protect itself against that risk? (2-4 sentences. 1.0 points)
What services do you offer? Will I have a formal written agreement or contract with you? What if I can 't afford to pay your fees or make contributions? In addition to helping me solve my immediate problem, will you help me develop a plan for avoiding problems in the future?
When Oprah gave away Pontiac G6 sedans to her TV audience, was the value of the cars taxable? On Labor Day weekend in 2006, World Furniture Mall in Plano, Illinois, gave away $275,000 of furniture because the Chicago Bears shut out the Green Bay Packers in the team’s football season opener at Lambeau Field in Green Bay (26-0). Was the free furniture in the form of a discount or rebate taxable, or should the furniture company have handed the customers a Form 1099-MISC?
1. Why does the Indian classical tradition dominate the musical image of South Asia in the west?
"What is necessary to change a person is to change his awareness of himself. --
I believe that Excel can enhance the younger generations math learning skills. I think that as long as the basic math skills of calculating numbers are learned and mastered first, then Excel can be of a great benefit in the development of the critical thinking skills that are necessary to implement all of the different formulas. I believe that this kind of critical thinking that is required to realize how to formulate the data is a very important skill to develop. I do think that the younger generations and everyone else's calculating skills become a "little rusty" because of continually relying on Excel to do all of the calculating instead of doing the math out longhand, but this can occur even through the use of calculators. I think Excel
After reading the above statement, did you miss any species in your gut content sampling? If so, which ones?
(After noting that electricity passing through a conductor produces a glowing red or white heat, Edison imagined using this light for pratical uses. )
(b) Would the trial balance be out of balance if the $2650 entry had been journalized correctly but the credit to Cash had been posted as $2560?
The total Accounts Receivable balance in the records of $4,752,257.70 was verified by setting a filter of
f. On December 1, the company rented space to another tenant for $3,200 per month. The tenant paid six months' rent in advance on that date. The payment was recorded with a credit to the Unearned Rent account.
Although a customer declared bankruptcy in the previous quarter and did not prepay for services, Grass Man lawn service company provided services for the entire 4th Quarter. While Grass Man did not learn of the bankruptcy until the next fiscal year, the assumption that the customer never agreed to pay for the services provided is valid. Assuming that customers request additional services during the prepaid month which generate occasional accounts receivable for Grass Man, the accounting estimate of a 4% allowance is reasonable. In consideration of provided background and assumptions, the question is whether revenue was inappropriately recognized leading to erroneous financial reports or if accounting estimates should be adjusted to reflect
I sit up on my cot. It doesn’t feel right without Tobias next to me. I am not sure where Caleb and Cara are. Probably in the lab, working on that new serum. Uriah walked into the dormitory looking stuffed from breakfast. He sees me and gives me a strange look.