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satela [25.4K]
2 years ago
14

Craigmont uses the allowance method to account for uncollectible accounts. its year-end unadjusted trial balance shows accounts

receivable of $104,500, allowance for doubtful accounts of $665 (credit) and sales of $925,000. if uncollectible accounts are estimated to be 4% of accounts receivable, what is the amount of the bad debts expense adjusting entry?
Business
1 answer:
marshall27 [118]2 years ago
3 0
<span>$104,500 * 0.04 = $4,180 - $665 = $3,515</span>
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Had to look for the options and here is my answer:

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3 years ago
In 20X5, Elm Corp. bought 10,000 shares of Oil Corp. at a cost of $20,000. On January 15, 20X6, Elm declared a property dividend
xxMikexx [17]

Answer:

c) $25,000

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A property dividend should be recorded in retained earnings at the property's  <u>market value at date of declaration.</u>

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Hence, retained earnings will reduce by $25,000

In 20X5, Elm Corp. bought 10,000 shares of Oil Corp. at a cost of $20,000. On January 15, 20X6, Elm declared a property dividend of the Oil stock to shareholders of record on February 1, 20X6, payable on February 15, 20X6. During 20X6, the Oil stock had the following market values:  

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February 15

24,000

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3 years ago
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D I think is correct answer.
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3 years ago
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3 years ago
Read 2 more answers
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Over [174]

Answer:

The bond's issue (selling) price = $1,146,890.2

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During the 5 years, there are 10 equal periodic coupon payments that will be made. In each  year, the total coupon paid will be $1,070,000*0.15=$160,500 and this payment will be split into two equal payments equal to  \frac{160,500}{2}=$80,250. this stream of cashflows is an ordinary annuity

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=$80,250*7.1888+$1,070,000*0.5327 = $1,146,890.2

7 0
3 years ago
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