Questions
57. Using percentage of sales method in estimating the uncollectible account expense, Key Company expects 2%...

57. Using percentage of sales method in estimating the uncollectible account expense, Key Company expects 2% of the 2015 credit sales to be uncollectible. The credit sales of 2015 amount to $110,000 and the allowance for uncollectible accounts prior to adjustment has a credit balance of $300. The amount of the uncollectible account expense is:

Select one:

a. $300

b. $1,900

c. $2,500

d. $2,200

58. At December 31, 2015, the accounts receivable balance of Carrie Corporation is $200,000. Carries expects 1% of the outstanding accounts receivable to be uncollectible. Prior to adjustment, allowance for uncollectible accounts has a credit balance of $200. The expense reported on the income statement as uncollectible account expense of 2015 is:

Select one:

a. $2,000

b. $1,800

c. $2,200

d. $200

In: Accounting

1. write a hypothesis for this chart? Data Table 2 Graphical Data Percentage calculations Generation number...

1. write a hypothesis for this chart?

Data Table 2

Graphical Data

Percentage calculations

Generation number

Number of Long-tooth Rabbits

Number of Short-tooth Rabbits

Total Rabbits

% Long-tooth Rabbits

% Short-tooth Rabbits

2

3

54

57

5.26%

94.73%

4

6

474

480

1.25%

98.75%

7

0

4

4

0%

100%

10

0

1

1

0%

100%

3. Does the data in the table above support your hypothesis for this experiment? Be sure to use

    your data in explaining whether the hypothesis was supported or not.

4. Explain how the tooth length trait was influenced by natural selection in your experiment

In: Biology

Sunland Company had the following department information about physical units and percentage of completion: Physical Units...

Sunland Company had the following department information about physical units and percentage of completion:

Physical Units
Work in process, May 1 (50%)   59200
Completed and transferred out 180100
Work in process, May 31 (50%) 49200


If all materials are added at the beginning of the production process, what is the total number of equivalent units for materials during May?

In: Accounting

Brad earns $4960 per month. He is married and claims four exemptions. Use the percentage method...

Brad earns $4960 per month. He is married and claims four exemptions. Use the percentage method to find the FIT (federal income tax) to be withheld from his monthly paycheck

In: Accounting

What is the Return on Assets (ROA) for CZ Inc.? Please give your answer in decimal form and not as a percentage

 

JZ Inc. has (net income / sales )= .10, (sales / assets)= 2, and (assets / equity)= 1.5

SZInc. has (net income / sales )= .30, (sales / assets)= 1, and (assets / equity)= 1

CZ Inc. has (net income / sales )= .05, (sales / assets)= 2, and (assets / equity)= 2

 

13)   What is the Return on Assets (ROA) for CZ Inc.? Please give your answer in decimal form and not as a percentage (just like above where net income / sales = .10 is in decimals).   

Please put the number on the answer sheet.

 

 

14)   What is the Return on Equity (ROE)for CZ Inc.? Please give your answer in decimal form and not as a percentage (just like above where net income / sales = .10 is in decimals).   

Please put the number on the answer sheet.

 

 

 

 

 

15)   If you were going to invest in one of the companies as an individual stock investor (equity holder), which company would you invest in?

A. JZ INC.

B. SZ INC.

C. CZ INC

D. You are indifferent between JZ INC. and SZ INC. since they have the same ROE

E. You are indifferent between CZ INC. and SZ INC. since they have the same ROE

 

 

In: Finance

In 2012, about what percentage did online digital entertainment and media revenues constitute of total entertainment...

In 2012, about what percentage did online digital entertainment and media revenues constitute of total entertainment and media revenues?

In: Economics

nnovative Tech Inc. (ITI) has been using the percentage of credit sales method to estimate bad...

nnovative Tech Inc. (ITI) has been using the percentage of credit sales method to estimate bad debts. During November, ITI sold services on account for $120,000 and estimated that 1/4 of 1 percent of those sales would be uncollectible.

Required:

  1. Prepare the November adjusting entry for bad debts.

  2. Starting in December, ITI switched to using the aging method. At its December 31 year-end, total Accounts Receivable is $97,700, aged as follows: (1) 1–30 days old, $82,000; (2) 31–90 days old, $11,000; and (3) more than 90 days old, $4,700. The average rate of uncollectibility for each age group is estimated to be (1) 11 percent, (2) 22 percent, and (3) 44 percent, respectively. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts.

  3. Before the end-of-year adjusting entry is made, the Allowance for Doubtful Accounts has a $1,950 credit balance at December 31. Prepare the December 31 adjusting entry.

  4. Show how the various accounts related to accounts receivable should be shown on the December 31 balance sheet.

In: Accounting

I need a scatterplots graph for NBA players foul shot percentage. can use 30 players

I need a scatterplots graph for NBA players foul shot percentage. can use 30 players

In: Statistics and Probability

What percentage of commercial airplane accidents have resulted from pilot error? This includes mismanagement of flight...

What percentage of commercial airplane accidents have resulted from pilot error? This includes mismanagement of flight systems, poor judgement and not maintaining proper situational awarness.

Please do not include orher human factors. Also please list your reference that supports the claim.

In: Statistics and Probability

Lab: Exploration of Avogadro's Law-Determination of Percentage of Sodium Bicarbonate in an Alka-Seltzer Tablet 1) One...

Lab: Exploration of Avogadro's Law-Determination of Percentage of Sodium Bicarbonate in an Alka-Seltzer Tablet

1) One concern with setting up a closed system experiment where gas is evolved during a reaction is the presence of leaks (another concern is that the system will explode if too much gas evolves!). We know that some leaking of pressure occurs because after a maximum pressure is achieved it slowly starts to decrease with time. Will a leak during gas evolution overstate or understate the amount of sodium bicarbonate in an Alka-Seltzer tablet and why?

2)In our rearranged Ideal Gas Law Δn=(ΔPV)/(RT) we considered V and T to remain constant. Is this a reasonable assumption and why? Assuming that T increased as a function of the reaction, would this cause an overestimation or underestimation of the amount of sodium bicarbonate?

3) To calculate the amount of sodium bicarbonate, we assume that there was enough citric acid to react completely with the sodium bicarbonate. However, if the citric acid is the limiting reagent, then the calculated amount for sodium bicarbonate would be incorrect. How could we experimentally test this possibility? Describe in two sentences how you would change the reaction conditions to account for this.

In: Chemistry