Assessing ______ requires evaluating whether an organization is financially strong or in jeopardy.
A. liquidity
B. profitability
C. asset management
D. long-term solvency
D. long-term solvency
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Quan uses a periodic inventory system. At the end of April, Quan had 20 units on hand. April 1 On hand, 10 units @ $2 each $ 20 19 Purchased 90 units @ $3 each 270 Goods available for sale $290 If Quan uses the LIFO inventory method, how much is inventory on the balance sheet as of April 30?
a. $50 b. $40 c. $60 d. $58
Activity-based costing (ABC) is used most often to improve the assignment of overhead costs to products
Indicate whether the statement is true or false
A company uses the aging of accounts receivable method to estimate its bad debts expense. On December 31 of the current year an aging analysis of accounts receivable revealed the following: Account AgeBalanceEstimated Uncollectible PercentageCurrent (not yet due)$620,0000.5%1-30 days past due270,0002.0%30-60 days past due145,0008.0%61-90 days past due55,00020.0%90-120 days past due32,00050.0%Over 120 days past due18,00070.0%Total$1,140,000?Required:a. Calculate the amount of the Allowance for Doubtful Accounts that should be reported on the current year-end balance sheet.b. Calculate the amount of the Bad Debts Expense that should be reported on the current year's income statement, assuming that the credit balance of the Allowance for Doubtful Accounts on January 1 of the current year
was $41,000 and that accounts receivable written off during the current year totaled $43,200.c. Prepare the adjusting entry to record bad debts expense on December 31 of the current year.d. Show how Accounts Receivable will appear on the current year-end balance sheet as of December 31. What will be an ideal response?
Which of the following is not a real federal anti-discrimination law?
a. Title VII of the Civil Rights Act of 1964 b. Equal Pay Act c. Equal Opportunity Act d. Rehabilitation Act