Allowance for Doubtful Accounts has a credit balance of $800 at the end of the year (before adjustment), and an analysis of accounts in the customers ledger indicates doubtful accounts of $16,000. Which of the following entries records the proper provision for doubtful accounts?
A) debit Uncollectible Accounts Expense, $800; credit Allowance for Doubtful Accounts, $800
B) debit Uncollectible Accounts Expense, $15,200; credit Allowance for Doubtful Accounts, $15,200
C) debit Allowance for Doubtful Accounts, $800; credit Uncollectible Accounts Expense, $800
D) debit Allowance for Doubtful Accounts, $16,800; credit Uncollectible Accounts Expense, $16,800
B
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Japan is Coach's second largest market, representing about 20% of global sales. All of the following statements are true regarding the market for Coach's products compared to that in America except:
A) Japanese consumers are enormously brand-centric. B) Japanese consumers are not as brand loyal as American consumers. C) American women tend to carry two or three brands while their Japanese counterparts tend to carry as many as five. D) The company's $500 handbags are especially popular with young women. E) Coach has to work on improving its brand image in Japan.
Which two factors justify the high cost of in-home personal interviewing?
A) need for personal contact and in-home environment is important B) speed of interviewing and in-home environment is important C) in-home environment is important and there is a need to interview family members D) there is a need to view an ad E) none of the above; nothing justifies the extremely high cost of interviews conducted in the home
The new version of Internet Protocol that is coming into use is IP version ________
A) 1 B) 2 C) 6 D) 8
Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. The fair value of Float's net assets was $1,850,000, and the book value was $1,500,000. The noncontrolling interest shares of Float Corp. are not actively traded.What is the dollar amount of fair value over book value differences attributed to Perch at the date of acquisition?
A. $350,000. B. $120,000. C. $370,000. D. $280,000. E. $150,000.