On November 15, 2017, company sold goods on credit to company B for 3 million dollars and recognized an accounts receivable. On the due date, company B informed company A that it is incapable of paying this amount because of financial difficulty. After negotiation, company A accepted the offe...
On November 10,Magic Company sold goods to PopShop, costing $18 000 on account for $26 000.On November 15, Pop Shop asks for a price reduction of $3 000 for damagedduring shipment;Magic Company agreed to the price reduction. Record the transactions in journal entries instructions: On N...
scope of coverage.4.Please insure electric fans at 120% of the invoice value on our behalf.5.We can insure the porcelain vases on your behalf,but at a rather high premium andthe additional premium will be for your account.6.The porcelain varies with the nature of the goods,the scope of...
Give thejournal entry(日记账会计分录)to record theuncollectible accounts expense(坏账费用)under each of the following assumptions(要求):(1) the Allowance for Uncollectible Accounts has acredit balance(贷方余额)of $780; (2) it has adebit balance(借方余额)of $780 Allowance forUncollectible Accounts...
The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense for: ? A.$3,600 B.$3,568 C.$2,800 D.$4,400 正确答案:D解析:D、Answer:D Explanation: Desiredbalanceinallowanceaccount: $90,000×0.04= $3,600 credit Currentbalanceinallowanceaccount...
The beauty products industry faces intense competition and high fragmentation due to low barriers to entry. Ulta’s competition encompasses a diverse array of retailers, ranging from small to large entities, including regional and national department stores (Macy’s and Kohl’s), specialty retailers ...
76.26 USD +1.03% +4.64% +10.48% Sep. 04 Performance Food Group Plans to Offer $1 Billion of Senior Notes MT Aug. 20 Performance Food Group Insider Sold Shares Worth $4,669,255, According to a Recent SEC Filing MT Summary Quotes Charts News Company Financials Valuation Conse...
It's easy to forget how historic many areas of the City of Poughkeepsie are. The Chance Theater,which was recently sold,started as a vaudeville theater. Many of the large buildings on Main Street and Market Street have been around for generations. Poughkeepsie was founded in 1686 and the cit...
such as 6/30/14 to record financial results for the first half of the calendar year. In the journal entry table, add a line for each income and expense account, as shown inFigure 1-2. Enter values for income accounts in the Credit column, and values for expense accounts in the Debit...
To calculate the sales growth rate for your business, you’ll need to know the net sales value of the initial period and the net sales value of the current period. These values should be easy to find on an income statement. Once you have these values, you can use the following formula...