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allsm [11]
2 years ago
14

g Oregon Corp. prepares its financial statements annually and has a calendar year end. The adjusted trial balance ( NO MORE ADJU

STING ENTRIES ARE NEEDED) shows the following balances at December 31, 2019 (all accounts have normal balances): December 31, 2019 General Ledger Balances: Bad debt expense $ 100,000 Accounts Receivable 2,000,000 Allowance for Doubtful Accounts 300,000 What amount would be reported on Oregon Corp's balance sheet as the NET accounts receivable (the cash realizable value) at December 31, 2019
Business
1 answer:
Semmy [17]2 years ago
5 0

Answer:

$1,700,000

Explanation:

The computation of the NET accounts receivable (the cash realizable value) at December 31, 2019 is shown below:

= Account receivable - allowance for doubtful debts

= $2,000,000 - $300,000

= $1,700,000

By deducting the allowance for doubtful debts from the account receivable we can get the net account receivable or the cash realizable value

Therefore we ignored the bad debt expense

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On January 1, 2020, Bonita Company purchased 12% bonds, having a maturity value of $320,000 for $344,260.74. The bonds provide t
Delvig [45]

Answer:

Following are the responses to the given points:

Explanation:

For point a:

Criteria I                                    

Date: 1-1.2020                 Debt Investments                    \$3,44,260.74

                                         cash                                       \$3,44,260.74

For point b:

Criteria  II

Date: 31.12.2020                Interest Account receivable to pay \$38,400.00   \ \ \ \ \ \ \ \ \ \            320000\times 12\%

                                    Debt Investments   \$3973.93

                                   rate of Revenue          \$34,426.07(\$344,261.74 \times 0.10)                                        

31.12-2020                         Fair Value Adjustment                        1713.19

                       Gain or loss - equity unrealized holding          1713.19                          

for point c:

Criteria III

31.12-2021                       Interest Account receivable to pay          \$38,400            

                                    Debt Investments                              \$4,371

                                   rate of Revenue                       \$34,029

 

31.12-2021                   Gain or loss - equity unrealized holding    \$7,927.69

                                   Fair Value Adjustment                          \$7,927.69

                                329700-335914.50=6214.50+1713.19 =7,927.69

Please find the attached table.

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3 years ago
Explain how Nike came to that situation through its expansion strategy
sasho [114]

Answer:

Other than its superior products, it was able to expand thanks to its use of global marketing strategies to help expand its business globally and gain market share everywhere. Nike was able to use social media presence and strategic partnership and sponsorship to gain global consumers and market share

Explanation:

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2 years ago
you are driving lyou are driving on a two-lane highway behind a large vehicle that you want to pass to ensure you can see ahead
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Explanation:

7 0
2 years ago
Consumers and businesses are able to purchase from governments and private companies, which are debt certificates. Investors can
Assoli18 [71]

Answer:

True

Explanation:

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5 0
3 years ago
Taxable income from the rental of actively managed depreciable real estate is classified as:
iragen [17]

Answer:

passive income if taxable income is negative;active income if taxable income is positive.

3 0
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