Use the information in the adjusted trial balance presented below to calculate the current ratio for Wicked Wicker Company:Account TitleDr. Cr.Cash$80,000? Accounts receivable 35,000? Prepaid insurance 14,200? Equipment 290,000? Accumulated depreciation-Equipment $145,000? Land 114,000? Accounts payable 36,000? Interest payable 7150? Unearned revenue 10,700? Long-term notes payable 87,000? Retained earnings 247,350? Totals$533,200? $533,200?
A. 0.42.
B. 2.14.
C. 2.12.
D. 2.30.
E. 2.40.
Answer: E
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The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts expense, reports the following selected amounts: Accounts receivable$441,000?DebitAllowance for Doubtful Accounts 1310?DebitNet Sales 2,160,000?CreditAll sales are made on credit. Based on past experience, the company estimates 2.5% of ending account receivable to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
A. Debit Bad Debts Expense $15,400; credit Allowance for Doubtful Accounts $15,400. B. Debit Bad Debts Expense $5400; credit Allowance for Doubtful Accounts $5400. C. Debit Bad Debts Expense $11,025; credit Allowance for Doubtful Accounts $11,025. D. Debit Bad Debts Expense $12,335; credit Allowance for Doubtful Accounts $12,335. E. Debit Bad Debts Expense $9715; credit Allowance for Doubtful Accounts $9715.
Agencies do not need to worry about complying with the U.S. Constitution's due process class; they only need to worry about following the Administrative Procedures Act
Indicate whether the statement is true or false
Employer campaign tactics try to dissuade employees from voting for a union by influencing all of the following except:
A. job dissatisfaction. B. utility maximization. C. union instrumentality. D. collective social identity.
Which of the following generates emotional requests that link the target person's hopes, ideals, values, and desires?
A) inspirational appeal B) rational persuasion C) consultation D) collaboration