Minor Company had checks outstanding totaling $5,407 on its April bank reconciliation. In May, Minor Company issued checks totaling $40,849. The May bank statement shows that $25,832 in checks cleared the bank in May. A check from one of Minor Company's customers of $640 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be

a. $19,784

b. $20,425

c. $66,681

d. $20,424

Apple Inc. is an American multinational technology company hired you as Marketing Manager of Saudi Arabian Region and you have to answer the below question from your own words:

a. Environmental Analysis (Conduct an environmental analysis that looks at and comments on Saudi Arabia and your network of business contacts, competitors and customers.)

b. Target Market Analysis (Identify the target market, describing how the company will meet the needs of the consumer better than the competition does).

Globalization represents the opportunity to deliver improved value to end customers by developing world-class supply relationships in terms of cost, quality, delivery and performance. more and more buyers have to learn to develop a supply base in more than one country in order to remain competitive in the complex and dynamic global business environment.

1. Critically discuss the reasons why your company (a vehicle manufactiring company) should consider ethical conduct in its purchasing structure.

Frederick and Sons is a small company that makes faucets rings.   They have experienced a larger than normal bad debts due to the slowdown in the economy.  Koehler Corporation is a multimillion-dollar Corporation that makes faucets and other plumber supplies is also experiencing bad debt losses. What method would each company use when writing off customers’ accounts unable to pay and why?   Give an entry for each when actually writing off a customer’s account.

Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31, the company’s fiscal year-end. The 2020 balance sheet disclosed the following:

During 2021, credit sales were $1,840,000, cash collections from customers $1,920,000, and $57,000 in accounts receivable were written off. In addition, $4,800 was collected from a customer whose account was written off in 2020. An aging of accounts receivable at December 31, 2021, reveals the following:

Required:
1. Prepare summary journal entries to account for the 2021 write-offs and the collection of the receivable previously written off.
2. Prepare the year-end adjusting entry for bad debts according to each of the following situations:

1. Bad debt expense is estimated to be 4% of credit sales for the year.
2. Bad debt expense is estimated by adjusting the allowance for uncollectible accounts to the balance that reduces the carrying value of accounts receivable to the amount of cash expected to be collected. The allowance for uncollectible accounts is estimated to be 10% of the year-end balance in accounts receivable.
3. Bad debt expense is estimated by adjusting the allowance for uncollectible accounts to the balance that reduces the carrying value of accounts receivable to the amount of cash expected to be collected. The allowance for uncollectible accounts is determined by an aging of accounts receivable.

3. For situations (a)−(c) in requirement 2 above, what would be the net amount of accounts receivable reported in the 2021 balance sheet?

BBB Company specializes in computer manufacturing. BBB takes many orders from multiple customers per year. For 2019, BBB estimates total manufacturing overhead costs throughout the plant to amount to $900,000. The company anticipates that total direct labor hours worked for all jobs throughout the year will amount to 40,000 hours and also predicts that total machine hours will amount to 60,000 hours. The company uses direct labor hours as its allocation base. Make sure to show all work!!!!

1. Compute the pre-determined overhead rate:

2) Use your answer from Question #1 to solve this question. During the year, BBB has worked on two jobs, which are listed as follows:

                                                            Job 101                                               Job 102

Actual DM Cost                                   $33,000                                                           $47,500

Actual DL Cost                                    $16,700                                                           $22,550

Actual Direct Labor Hours                   1,200                                                   1,900

Actual Machine Hours                            660                                                      426

Units Produced                                         40                                                        50

1. Apply overhead to Jobs 101 and 102.

2. Compute total manufacturing costs for Jobs 101 and 102.

c) Compute unit cost for Jobs 101 and 102.

Elegant Dogs and Dazzling Dogs are competing canine grooming salons. Each company currently serves 4,500 customers per year. Both companies charge $35 to groom a dog. Elegant Dogs pays its dog groomers fixed salaries. Salary expense totals $45,000 per year. Dazzling Dogs pays its groomers $10 per dog groomed. Elegant Dogs lures 2,000 customers from Dazzling Dogs. Which of the following is true?

Multiple Choice Profits at both companies will decrease:

Dazzling Dogs will suffer a net loss.

Elegant Dogs' profits will increase by more than Dazzling Dogs' profits will decrease.

Dazzling Dogs' profits will decrease by more than Elegant Dogs' profits will increase.

Acme Materials Company manufactures and sells synthetic coatings that can withstand high temperatures. Its primary customers are aviation manufacturers and maintenance companies. The following table contains financial information pertaining to cost of quality (COQ) in 2019 and 2020 (in thousands of dollars):

Required:

1. Classify the cost items in the table into cost-of-quality (COQ) categories.

2. Calculate the ratio of each COQ category to revenues in each of the 2 years.

3. Calculate the percentage change in each COQ category and total COQ and comment on the results:

a. Percentage change in total COQ as a percentage of sales, from 2019 to 2020;

b. Total COQ in 2020 expressed as a percentage of 2019 sales dollars;

c. Percentage change in total prevention costs, 2019 to 2020;

d. Percentage change in total appraisal costs, 2019 to 2020;

e. Percentage change in total internal failure costs, 2019 to 2020;

f. Percentage change in total external failure costs, 2019 to 2020.

Acme Materials Company manufactures and sells synthetic coatings that can withstand high temperatures. Its primary customers are aviation manufacturers and maintenance companies. The following table contains financial information pertaining to cost of quality (COQ) in 2019 and 2020 (in thousands of dollars):

Required:

1. Classify the cost items in the table into cost-of-quality (COQ) categories.

2. Calculate the ratio of each COQ category to revenues in each of the 2 years.

Classify the cost items in the table into cost-of-quality (COQ) categories. Calculate the ratio of each COQ category to revenues in each of the 2 years. (Enter amounts in thousands, not in whole dollar. Round your "Percentage" answers to 2 decimal places.)