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melisa1 [442]
3 years ago
8

The 2016 financial statements of Leggett & Platt, Inc. include the following information in a footnote. What are the company

’s current gross accounts and other receivables at the end of 2016? (in millions) 2016 2015 Allowance for doubtful accounts $ 7.2 $ 9.3 Total accounts and other receivables, net $486.6 $520.2
Business
1 answer:
nalin [4]3 years ago
3 0

Answer:

$493.8

Explanation:

Since the 2016 financial statements of Leggett & Platt, Inc. includes the following information in a footnote.  (in millions) 2016 2015 Allowance for doubtful accounts $ 7.2 $ 9.3 Total accounts and other receivables, net $486.6 $520.2

Therefore the company’s current gross accounts and other receivables at the end of 2016 is

Net Total accounts and other receivables, net $486.6

Allowance for doubtful accounts ..........................<u>...$ 7.2</u>

Gross accounts and other receivables................<u>$493.8</u>

<u>The gross accounts and other receivables will be the amounts before making any allowances for doubtful accounts</u>

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Answer:

a. credit to Cash for $63,316.

Explanation:

Given;

Pension contribution by GL Inc. percentage = 11%

Salaries for the period = $575,600

Amount to be contributed = 11% × $575,600

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To account for this, the required journal would be

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The right option is a. credit to Cash for $63,316.

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Which of the following is true when an economy produces at full employment, but consumers, government, businesses, and the forei
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Explanation:

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