Entries for Bad Debt Expense under the Direct Write-Off and Allowance Methods

The following selected transactions were taken from the records of Shipway Company for the first year of its operations ending December 31:

For those amount boxes in which no entry is required, leave the box blank. If an entry is not required, select "No entry" from the dropdown box(es).

a. Journalize the transactions under the direct write-off method.

b. Shipway Company uses the percent of credit sales method of estimating uncollectible accounts expense. Based on past history and industry averages, 3% of credit sales are expected to be uncollectible. Shipway Company recorded $548,500 of credit sales during the year.

Journalize the transactions under the allowance method.

c. How much higher (lower) would Shipway Company's net income have been under the direct write-off method than under the allowance method?
  by $

Tesla Motor

Vision:

1. Most compelling: Tesla wants to say, first of all, we want to make the most compelling car company. It shows the leadership and excellence of the company

2. Car Company: The second one, they want to make it clear that it is a car company.

3. 21st century: They want to make the best cars before the 21st century.

4. The world’s transition to electric vehicles: Also, the important indicator is, they want to work worldwide. Tesla Motors wants to shift the entire world from a petrol diesel car to electric cars.

Mission:

1. Accelerate: They Want to work with high speed and also want to increase the customer’s speeds by providing the best cars.

2. The World’s Transition: They believe their mission is to eliminate petrol and diesel cars and bring their electric cars.

3. Sustainable Transport: They want to provide sustainable transport by providing these products which are based on renewable technology which is called sustainable energy.

Amazon

Vision:

1. Global Reach: They want to make it clear that the entire world is their customer.

2. Customer Prioritization: They are more focused on customer prioritization.

3. Anything They Might Want to Buy Online: It means they are focusing on widest selection.

Mission

1. The Lowest Possible Price: They want to provide the products for the best possible price to the customers.

2. The Best Available Selection: They want to provide the best selection to the customers.

3. The Utmost Convenience: They want to provide the utmost convenience so that the customers can get their orders or material by seating in the home.

Q/ Prepare the vision and mission statements of Tesla and Amazon using the key terms given above ?

ABC Corp. had $30,000,000 in revenues (sales), $10,000,000 in Costs of Goods Sold (COGS), $3,500,000 in SG&A expenses, $5,400,000 in depreciation expenses, $3,000,000 in interest expenses, and $1,745,000 in tax expenses. ABC Corp.'s shares are currently traded at $25.52, and the company currently has 1,500,000 shares outstanding. What is the company's earnings per share (EPS)? What is the company's price-earnings ratio?

Part 1

Fill in the blanks in the five sentences given below with the most suitable words:   

(Inventory - revenue - reconciliation – appraisal – goodwill)

(a) In business, ………… is the income that a company receives from its normal

business activities, usually from the sale of goods and services to customers.

(b) ………… is an intangible, sale able asset arising from the reputation of a business

and its relations with its customers.

(c) Matching of the cash balance shown in the bank statement with the balance

given in the company’s cash book as at a particular date is called bank ……… .

(d) The ………… is valued at lower of cost or net realizable value.

(e) An ………… is defined as an impartial analysis and evaluation conducted

according to established criteria to determine the acceptance, merit or worth

of an item.

Part 2

Fill in the blanks in the five sentences given below with the most suitable

words: (procedures – subsequent – corporate – performance – investigations – accordance – compliance – deferred – impairment – strategies)

1. The Chief Internal Auditor presented a summary of the findings of internal audit and ...........

carried out by his department during the year as directed by the management.

2. One of the purposes of the audit committee is to review the company’s processes for monitoring     

….…… with laws and regulations.

3. The financial statements of the company have been prepared and presented in .…… with the Sri Lanka Accounting Standards.

4. An internal audit generally determines whether the company’s....... are followed and whether embezzlement or other illegal activity has taken place.

5. The Board of Directors of our company is committed and takes responsibility to maintain the

highest standards of … …… governance.

Listed Below are paired data consisting of movie budget amounts and the amounts that the movies grossed. Find the regression​ equation, letting the budget be the predictor​ (x) variable. Find the best predicted amount that a movie will gross if its budget is

​$105 million. Use a significance level of alpha equals 0.05.

The regression equation is

y(carrot) = __ + __x.

​(Round to one decimal place)

The best predicted gross for a movie with a ​$105 million budget is ​$___million

​(Round to one decimal place)

Please make sure I can read your answer! Thank you!

I have figured out the SPSS part, can someone answer the questions?

Use SPSS to answer the following: Create a histogram to organize the following distributions of scores.

How does the distribution look like?

Normal curve, positive and negatively skewed?

Construct a grouped frequency distribution table.

Show the Mean Median and standard deviation of the data in your SPSS output.

How many scores lie within the class interval that is equivalent to 100% Scores:

28 54 65 53 81

45 44 51 72 34

43 59 65 39 20

53 74 24 30 49

36 58 60 27 47

22 52 46 39 65

SOMEONE is answering this incorrectly and not showing me STEP by STEP. Can someone please help me

The Discover Company (NYSE: DIS) has debt of a par value of $13 billion and is currently traded at 98.5% of the par value. The appropriate cost of debt for Discover is 2.5%, whereas the Treasury rate is 2%. Discover’s current stock price is $97 per share, and the company has 1.625 billion shares outstanding. Its equity beta is 1.1, and the expected return on the equity market is 8%. Discover has a 35% effective corporate tax rate. What is Discover’s current weighted average cost of capital?

Schneider Electric manufactures power distribution equipment for commercial customers, such as hospitals and manufacturers. Activity-based costing was used to determine customer profitability. Customer service activities were assigned to individual customers, using the following assumed customer service activities, activity base, and activity rate:

Assume that the company had the following gross profit information for three representative customers:

The administrative records indicated that the activity-base usage quantities for each customer were as follows:

• Assume that the fixed cost is $80, calculate the above costs in the table and explain the difference between average total costs and marginal costs.
• In a graph illustrate the Average Total Cost and Marginal Cost Curves, explain their relationship.
• Assume marginal revenue is $ 25 (constant at any quantity). Determine the profit maximizing output and calculate the profit.
• Examine why a firm could decide to produce at a loss on a short run.