McDonnell-Myer Corporation reported net income of $741 million. The company had 544 million common shares outstanding at January
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Answer:
Following are the solution to the given points:
Explanation:
In point a:
Following are the Journal entries of Nicole's Getaway Spa Books:
Month Title Account Dr Cr
September receivable Accounts 1,600
Sales 1,600
Sold gold cost 820
inventory Merchandise 820
October receivable Accounts 370
Sales 370
Sold gold cost 160
inventory Merchandise 160
November receivable Accounts 220
Sales 220
Sold gold cost 150
inventory Merchandise 150
December Cash 1,080
receivable Accounts 1,080
In point b:
Estimated Doubt Debt Allowance:
Class of age Quantity The proportion is Doubting debt
considered uncollectible allowance
1 month - -
2 month 220 11
3 month 370 74
More than 520 208
3 month
1,110 293
In point c:
The Doubtful Account Balance amounts to before aging analysis is performed. Therefore, its amount of bad debt is
. Due ought to be the writing system Costs of poor debt
Doubtful cashback rewards allowance
.
In point d:
Accounts receivable is calculated as total earnings accounts receivable. It is 8.600 / 760 and 11.32 time for NGS thus.
In point e:
Especially in comparison to both the Mineral Spa in Audrey, NGS' account receivable performance is quite healthy.