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Nikolay [14]
3 years ago
8

Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.

Business
1 answer:
astra-53 [7]3 years ago
5 0

Answer:

Explanation:

please find the attached for the full explanation of the answer.

before answering the total current assets that will be recorded by Symphony one needs to understand what a current asset is. A current asset  can be referred to a short term meaning that its span of life is short it can not be longer than 12 months hence current.

we also need to explain an asset: an item of property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies

Download docx
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The correct answer is choice a - task motivated.

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7 0
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The compensation associated with executive stock option plans is:A. The book value of a share of the company's shares times the
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The correct answer is letter "B": The estimated fair value of the options.

Explanation:

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3 years ago
Microsoft develops, produces, and markets a wide range of computer software, including the Windows operating system. On its rece
Shkiper50 [21]

Answer:

$106 million

Explanation:

                               allowance for doubtful accounts

                               debit             credit

beg. balance                                   426

bad debt                                           85        

ending balance       <u>405                        </u>

                                                        106

Since you need $106 million to balance the account, that should be the amount of bad debt written off during the current year. Allowance for doubtful accounts is a contra asset account, any debit balance increases accounts receivable while a credit balance decreases it.

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4 years ago
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Answer:

b

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8 0
3 years ago
The best definition of an accounting system is: The concepts, principles, and standards specifying the information which should
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Answer:

The personnel, procedures, devices, and records used by an entity to develop accounting information and communicate this information to decision makers.

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3 years ago
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