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Inga [223]
3 years ago
11

Interpreting the Accounts receivable Footnote Hewlett-Packard Company (HPQ) reports the following in its 2007 10-K report.

Business
1 answer:
skelet666 [1.2K]3 years ago
6 0

Answer:

The answer is below

Explanation:

Interpreting the Accounts receivable Footnote Hewlett-Packard Company (HPQ) reports the following in its 2007 10-K report. We have the following:

(a) What is the gross amount of accounts receivables for HPQ in fiscal 2007 and 2006?($ millions)2007, 2006

Gross accounts receivable for year 2007 = $13,646 for year 2006 = 11,093

(b)What is the percentage of the allowance for doubtful accounts to gross accounts receivable for 2007 and 2006?(Round your answers to two decimal places.)($ millions) 2007 2006 Percentage of uncollectible accounts to gross accounts receivable for year 2007 =  1.66% for year 2006 =1.98 %

(c)What amount of bad debts expense did HPQ report each year 2005 through 2007? What amount was actually written off? ($ millions)2007, 2006, 2005,

Bad debt expense for year 2007 = $32. Year 2006 = $37.   Year 2005 = $17

Amount actually written off for year 2007 = $29.  Year 2006 = $48 Year 2005 = $76

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Studentka2010 [4]

Answer:

a commercial bank

Explanation:

A commercial bank is a deposit accepting institutions regulated by the central bank of a country. The banks play a crucial role in availing capital to businesses. They accept deposits in the form of savings from customers. They keep a small fraction(reserves) in their custody to cater for withdrawal and loan out the rest. Banks, therefore, pool resources together for businesses and households to borrow.

Since banks have a wide customer base, they are able to mobilize huge amounts of resources to loan out. Commercial banks are the best institution to issue a loan to Glenn and Maggie. Saving and loan, credit unions have a limited membership and may not have sufficient resources to issue a loan to Glenn and Maggie.

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2 years ago
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Divine Apparel has 3,100 shares of common stock outstanding. On October 1, the company declares a $0.75 per share dividend to st
Naya [18.7K]

Answer:

1.

                                                                              Debit                         Credit

Retained Earnings ($0.75*3,100)                         $2,325

Dividend payable                                                                                    $2,325

2. "No Journal Entry Required"

3.

                                                                              Debit                         Credit

Dividend payable                                                 $2,325

Cash                                                                                                        $2,325

Explanation:

The following journal entries will be required to be made

1. Recording declaration of dividend

The Divine Apparel shall record the the following journal entry on October 1 in respect of dividend declared by it.

                                                                              Debit                         Credit

Retained Earnings ($0.75*3,100)                         $2,325

Dividend payable                                                                                    $2,325

2.Record the entry on date of record

"No Journal Entry Required"

3.Record the payment of cash dividends

The Divine Apparel shall record the the following journal entry on October 31 in respect of dividend paid by it.

                                                                              Debit                         Credit

Dividend payable                                                 $2,325

Cash                                                                                                        $2,325

7 0
3 years ago
Frederick Company has two service departments (Cafeteria Services & Maintenance). Frederick has two production departments (
Alja [10]

Answer:

Maintenance total cost: 325,000

Cost Allocated to Packagin from Maintenance 162,500

Explanation:

\left[\begin{array}{ccccc}&Maintenance&Cafeteria&Assembly&Packaging\\Employees&4&&8&8\\Direct \: Cost&270,000&275,000&&\\Allocate C&55,000&-275,000&&\\Subtotal&325,000&&110,000&110,000\\Allocate M&-325,0004&-15,760&-162,500&-162,500\\Total&&&272,500&272,500\\\end{array}\right]

We will divide the cafeteria cost by the sum of employees of the department and maintenance.

4+8+8 = 20

275,000/20 = 13,750

Then we multiply this by each department employees and add them to their cost.

Maintenance total cost after adding cafeteria is 325,000

Then we do the same, we divide this amount for the emplyees of the processsing department:

8 + 8 = 16

325,000/16 =20,325.5

Then we multiply by 8 employees: 162,500

Maintenance total cost: 325,000

Cost Allocated to Packagin from Maintenance: 162,500

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Answer:

Distribution and Logistics

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3 years ago
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