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Sunny_sXe [5.5K]
3 years ago
5

The 2017 Form 10-K of Oracle Corporation, for the May 31, 2017 year-end, included the following information relating to their al

lowance for doubtful accounts: Balance in allowance at the beginning of the year $327 million, accounts written off during the year of $137 million, balance in allowance at the end of the year $319 million.
What did Oracle Corporation report as bad debt expense for the year?

Select one:
A. $ 27 million
B. $129 million
C. $118 million
D. $151 million
E. None of the above
Business
1 answer:
KatRina [158]3 years ago
5 0

Answer:

B. $129 million

Explanation:

bad debt expense for the year = balance in allowance at the end + write off - balance in allowance at the beggining

= $319 million + $137 million - $327 million

= $129 million

Therefore, Oracle Corporation report as bad debt expense for the year is $129 million.

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The adjusted trial balance of Bramble Corp. at December 31, 2019, includes the following accounts:
natulia [17]

Answer:

$11,400

Explanation:

                       Income Statement

         For the year ended December 31, 2019

Particulars                                                Amount

<u>Revenues</u>

Service revenue                                       $37,900

<u>Expense</u>

Salaries & wages expense       $16,000

Insurance expense                   $2,900

Rent expense                            $3,400  

Supplies expense                     $2,500

Depreciation expense              <u>$1,700</u>

Total expenses                                         <u>$26,500</u>

Net income (loss)                                     <u>$11,400</u>

4 0
3 years ago
Great Harvest Bakery purchased bread ovens from New Morning Bakery. New Morning Bakery was closing its bakery business and sold
ddd [48]

Answer:

Particulars                                  Amount

Purchase price                         $700,000

Add: Freight cost                     $35,000

Add: Electrical connections    $5,000

Add: Labor costs                      $37,800

Add: Bred dough used            $900

Add: Safety guards                  <u>$1,500</u>

Total cost of Equipment         <u>$780,200</u>

<u></u>

Note: Repairs cost of $5,000 will not be included

5 0
3 years ago
The following data are for the Akron Division of Consolidated Rubber, Inc.: Sales $ 800,000 Net operating income $ 50,000 Averag
ELEN [110]

Answer:

ROI 87.5%

Explanation:

Return on Investment = return /investment

Total return

50,000 perating income + 20,000 residual income = 70,000 income

The asset could been adquire on lease or through liabilities, this is not investment. The investmetn made is the one done by the shareholders.

Stock Holders equity = investment = 80,000

The shareholders invest this amount to generate

70,000 dollars of return

ROI  70,000/80,000 = 87.5%

7 0
3 years ago
Abardeen Corporation borrowed $90,000 from the bank on October 1, 2018. The note had an 8 percent annual rate of interest and ma
TiliK225 [7]

Answer:

Interest paid in cash in 2018 = $0

Interest recognized on the Income statement = $1,800

Liabilities recognized = $90,000

Amount paid for Principal and interest = $93,600

Interest reported on 2019 Income statement = 1800

Explanation:

Interest paid in cash in 2018 is zero because interest and principal were paid in cash on the maturity date.

Interest recognized in 2018 = 90000*0.08*3/12 = $1800

liabilities are recognized at original amount because the interest is not capitalized and no payment made thus far.

Amount paid on maturity date is 93,600 ( 90000 principal, 3600 interest)

interest reported is for three months jan - march

7 0
3 years ago
Luis follows a lot of news sources in his industry. He subscribes to several blogs written by industry experts, and updates are
bekas [8.4K]

Answer:

Group of choices:

a. Media sharing

b. Blog

c. Content aggregator

d. Mass media

The correct answer is c. Content aggregator .

Explanation:

Feedly is considered to be a content aggregator site because all of its information is derived from external sources. In a broader sense, content aggregators are tools that allow information to be collected in order to locate it in a specific place. One of the advantages is that it allows having the information in the same place, which saves time for those who are interested in the same or similar topics.

3 0
3 years ago
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