Allowance for Doubtful Accounts has a credit balance of $500 at the end of the year (before adjustment), and bad debt expense is estimated at 2% of credit sales. If credit sales are $848,200, the amount of the adjusting entry to record the estimated uncollectible accounts receivable

In the normal operation of business, you receive a check from a customer and deposit it into your checking account. With your bank statement, you are advised that this check for $775 is "NSF." The bank also informs you that due to the amount of activity on your business account the monthly service charge is $75. During a bank reconciliation, you will a. subtract both values from balance according to books b. add both values to balance according to bank c. subtract both values from balance according to bank d. add both values to balance according to books

A $170 petty cash fund has cash of $24 and receipts of $153. The journal entry to replenish the account would include a a. credit to Cash for $170 b. credit to Petty Cash for $153 c. credit to Cash Short and Over for $7 d. debit to Cash for $24

1. Suppose that the quantity demanded of visits to a doctor per year is given by 10X = 120 - (1/2)P   where X is the number of visits and P is the price the patient pays for a visit.

1. How many visits would the patient make if he or she had to pay the full price of a visit, $100?
2. How many visits would a patient make if he or she was insured and had to pay only a 20% co-insurance payment per visit?
3. How many visits would a patient make if he or she was insured and had to pay only a 15% co-insurance payment per visit?
4. How many visits would the patient make if medical services were free?
5. Comment on the role of copay on the number visits made.

Tunic Corporation was organized on April 1 of the current year, with an authorization of 25,000 shares of 6%, $50 par value preferred stock and 200,000 shares of $5 par value common stock. During April, the following transactions affecting stockholders’ equity occurred.

April 1    Issued 80,000 shares of common stock at $15 per share.

3. Issued 2,000 shares of common stock to attorneys and promoters in exchange for their services in organizing the corporation. The services were valued at $31,000.

8. Issued 3,000 shares of common stock in exchange for equipment with a fair market value of $48,000.

17. Received land valued at $75,000 as a donation from the city to attract Tunic to      its present location. The land will allow Tunic to have adequate parking for its operations.    

20. Issued 6,000 shares of preferred stock for cash at $55 per share.

30 Closed the $49,000 net income for April from the Income Summary account to Retained Earnings.

REQUIRED:

A Prepare general journal entries to record the foregoing transactions.

  B. Prepare the stockholders’ equity section of the balance sheet at April 30.   

The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following:

Income before income tax was $191,400, and income taxes were $28,600, for the current year. Cash dividends paid on common stock during the current year totaled $21,560. The common stock was selling for $35 per share at the end of the year.

Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use the rounded answers for subsequent requirements, if required.

If the company is in its first year of operations, what costs should be taken as reference for the establishment of standard costs?

At the middle year 2020 ，there is an outbreak that causes patients to have fever，cough ，and breath difficulty. Discuss how methods in DNA recombinant technology can be applied to identify X virus that causes the recent outbreak. Based on a flowchart, explain steps involved accordingly and in details. (10marks)

The balance sheet for Seuss Company at the end of the current fiscal year indicated the following:

Income before income tax was $1,500,000, and income taxes were $200,000 for the current year. Cash dividends paid on common stock during the current year totaled $150,000. The common stock sells for $75 per share at the end of the year.

Required:

Determine each of the following:

Round to one decimal place except earnings per share and dividends per share, which should be rounded to two decimal places.

In the year 2029, Kimberly is a leading nurse practitioner. Kimberly is interested in increasing the mean number of hours of continuing education opportunities that nurse practitioners have per year. In the past, the mean number of hours of continuing education opportunities per year was 45.3 (assume σ = 8.6). In a random sample of 36 nurse practitioners that entered a new continuing education system, the sample mean number of hours of continuing education opportunities was 48.9. Using α = 0.01, answer the following questions.

a) What is the setup for your null and alternative hypothesis?

b) What is the value of the test statistic, Z*?

c) Using the appropriate level of confidence, what is the confidence interval?

d) What is the interpretation (not your conclusions) of the confidence interval (in the context of the problem) you obtained in part c?

e) What is the p value?

f) What is the interpretation (not your conclusions) of the p value in the context of the problem you found in part e?

g) What are your conclusions in the context of the problem? Relate your conclusions to the test statistic and critical value, confidence interval and p value.

determine the amount of the standard deduction for each of the following taxpayers for tax year 2017
a. Christina, who is single.
b. A drain and Carol, who are filling a joint return. their son is blind.
c. Peter and Elizabeth, who are married and file separate tax returns. Elizabeth will itemize her deductions.
d. Karen, who earned $1100 working a part-time job. she can be claimed as a dependent by her parents.
e. Rodolfo, who is over65 and is single.
f. Bernard, who is non resident alien with U.S return.
g. Manuel, who is 70 and Easter, who us 63 and blind, will file a joint return.
h.herman, who is 75 and qualifying widower with a dependent child

At the end of the current year, Accounts Receivable has a balance of $803,120; Allowance for Doubtful Accounts has a credit balance of $5,189; and sales for the year total $2,213,000. Bad debt expense is estimated at 1/2 of 1% of net sales.

a. Determine the amount of the adjusting entry for bad debt expense.
$

b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.

c. Determine the net realizable value of accounts receivable.
$