SK
Samantha Kling
Answers (6)
SK
Answered
During 2010, Dawson's first year of operations, the following transactions occurred:
Credit sales of $2,000,000 \$ 2,000,000 $2,000,000 .
Collections on ac count of $1,700,000 \$ 1,700,000 $1,700,000 .
Accounts receivable written off during the year, $5,000 \$ 5,000 $5,000 .
Estimated uncollectible accounts $8,000 \$ 8,000 $8,000 .
Accepted a $10,000 \$ 10,000 $10,000 one-year. 12% 12 \% 12% note receivable on June 30
Required:
Prepare as appropriate:
a. The receivables portion of Dawson's first year operations balance sheet.
b. Notes to the financial statments for receivalites
Credit sales of $2,000,000 \$ 2,000,000 $2,000,000 .
Collections on ac count of $1,700,000 \$ 1,700,000 $1,700,000 .
Accounts receivable written off during the year, $5,000 \$ 5,000 $5,000 .
Estimated uncollectible accounts $8,000 \$ 8,000 $8,000 .
Accepted a $10,000 \$ 10,000 $10,000 one-year. 12% 12 \% 12% note receivable on June 30
Required:
Prepare as appropriate:
a. The receivables portion of Dawson's first year operations balance sheet.
b. Notes to the financial statments for receivalites
On Jul 19, 2024
a.
Balance sheet clisclosures: Accounts receivable, net $247,000∗∗Notes receivable 10,000Interest on notes receivable 600\begin{array}{lr}\text {Balance sheet clisclosures: }&\\\text {Accounts receivable, net }&\$247,000**\\\text {Notes receivable }&10,000\\\text {Interest on notes receivable }&600\\\end{array}Balance sheet clisclosures: Accounts receivable, net Notes receivable Interest on notes receivable $247,000∗∗10,000600
b.
Notes to the financial statements: Trade receivables $250,000 Allowance, beginning of the year $0 Charged to expense 8,000 Deductions (5,000)Allowance, end of the year $3,000Net receivables ∗$247,000\begin{array}{lr}\text { Notes to the financial statements: }\\\\\text { Trade receivables }&\$250,000\\\text { Allowance, beginning of the year }&\$0\\\text { Charged to expense }&8,000\\\text { Deductions }&(5,000)\\\text {Allowance, end of the year }&\$3,000\\\text {Net receivables }&*\$247,000\\\end{array} Notes to the financial statements: Trade receivables Allowance, beginning of the year Charged to expense Deductions Allowance, end of the year Net receivables $250,000$08,000(5,000)$3,000∗$247,000
Notes receivable due June 30, 2010, 12% interest rate, annual interest $10, 000
Balance sheet clisclosures: Accounts receivable, net $247,000∗∗Notes receivable 10,000Interest on notes receivable 600\begin{array}{lr}\text {Balance sheet clisclosures: }&\\\text {Accounts receivable, net }&\$247,000**\\\text {Notes receivable }&10,000\\\text {Interest on notes receivable }&600\\\end{array}Balance sheet clisclosures: Accounts receivable, net Notes receivable Interest on notes receivable $247,000∗∗10,000600
b.
Notes to the financial statements: Trade receivables $250,000 Allowance, beginning of the year $0 Charged to expense 8,000 Deductions (5,000)Allowance, end of the year $3,000Net receivables ∗$247,000\begin{array}{lr}\text { Notes to the financial statements: }\\\\\text { Trade receivables }&\$250,000\\\text { Allowance, beginning of the year }&\$0\\\text { Charged to expense }&8,000\\\text { Deductions }&(5,000)\\\text {Allowance, end of the year }&\$3,000\\\text {Net receivables }&*\$247,000\\\end{array} Notes to the financial statements: Trade receivables Allowance, beginning of the year Charged to expense Deductions Allowance, end of the year Net receivables $250,000$08,000(5,000)$3,000∗$247,000
Notes receivable due June 30, 2010, 12% interest rate, annual interest $10, 000
SK
Answered
In a simple CAPM world which of the following statements is (are) correct?
I. All investors will choose to hold the market portfolio, which includes all risky assets in the world.
II. Investors' complete portfolio will vary depending on their risk aversion.
III. The return per unit of risk will be identical for all individual assets.
IV. The market portfolio will be on the efficient frontier, and it will be the optimal risky portfolio.
A) I, II, and III only
B) II, III, and IV only
C) I, III, and IV only
D) I, II, III, and IV
I. All investors will choose to hold the market portfolio, which includes all risky assets in the world.
II. Investors' complete portfolio will vary depending on their risk aversion.
III. The return per unit of risk will be identical for all individual assets.
IV. The market portfolio will be on the efficient frontier, and it will be the optimal risky portfolio.
A) I, II, and III only
B) II, III, and IV only
C) I, III, and IV only
D) I, II, III, and IV
On Jul 18, 2024
D
SK
Answered
Futuring relies on the idea that the future is ________.
A) uncertain
B) predictable
C) quantitative
D) similar to the past
A) uncertain
B) predictable
C) quantitative
D) similar to the past
On Jun 19, 2024
A
SK
Answered
The most appropriate ending for a routine inquiry message is a general statement that does not waste time in revisiting the topic of the message.
On Jun 18, 2024
False
SK
Answered
Produces the highest ending inventory when costs are increasing
A)FIFO
B)LIFO
C)Weighted average
A)FIFO
B)LIFO
C)Weighted average
On May 20, 2024
a
SK
Answered
The perfectly competitive firm's marginal revenue curve is:
A) exactly the same as the marginal cost curve.
B) downward-sloping, at twice the (negative) slope of the market demand curve.
C) vertical.
D) horizontal.
E) upward-sloping.
A) exactly the same as the marginal cost curve.
B) downward-sloping, at twice the (negative) slope of the market demand curve.
C) vertical.
D) horizontal.
E) upward-sloping.
On May 19, 2024
D