A company has the following unadjusted account balances at December 31,of the current year; Accounts Receivable of $185,700 and Allowance for Doubtful Accounts of $1,600 (credit balance).The company uses the aging of accounts receivable to estimate its bad debts.The following aging schedule reflects its accounts receivable at the current year-end:

1.Calculate the amount of the Allowance for Doubtful Accounts that should appear on the December 31,of the current year,balance sheet.
2.Prepare the adjusting journal entry to record bad debts expense for the current year.

The 1998 ________ states that all federal district court litigants must consider the use of ADR at some stage of the litigation.

A) Alternative Dispute Resolution Act
B) Federal Court Early Intervention Act
C) Dispute in Litigation Act
D) Resolution Dispute Act
E) Peacekeepers Act

Larry has been a systems analyst at a software company for six years. Although he works hard, gets favorable performance reviews, takes night classes in business management, and has applied for promotions, his coworkers always get the promotions instead. Larry asked his coworkers about this, and one of them said, "Don't you realize? This management will never promote someone like you." This supports Larry's concern that he may be a target of discrimination because he is black; other talented employees are black, but no black employees have moved into management positions. Larry decides to discuss the problem with the human resource manager. If he can't find a satisfactory solution that way, with which federal agency could he file a complaint?

A) Anti-Discrimination Federal Agency
B) Equal Employment Opportunity Commission
C) Office of Federal Contract Compliance Programs
D) Uniform Guidelines on Employee Selection Procedures
E) Federal Register

When a company has preferred stock in its capital structure, what amount should be used to calculate noncontrolling interest in the preferred stock of the subsidiary when the company is acquired as a subsidiary of another company?

As managers and other executives owe a fiduciary duty to their employer, they may find themselves somewhat restricted in what they can do even after they leave their employment.

The process by which a third party imposes a solution to a dispute on the employer and union is called

A) binding arbitration.
B) certification.
C) conciliation.
D) job action.
E) mediation.

Consider a day on which the S&P/TSX 60 Index, an index of 60 large stocks, rose 59 points. On that same day, Alcan, which is one of the stocks in the Index, announced some unexpectedly bad news. The price of Alcan declined $10 on that same day. Using this example, discuss systematic risk, portfolio diversification, and asset specific risk.

Which of the following definitions is correct?

A) Accounting profit + economic profit = normal profit.
B) Economic profit - accounting profit = explicit costs.
C) Economic profit = accounting profit + implicit costs.
D) Economic profit - implicit costs = accounting profits.