Entries by mary WAMBUGU

One January 2, 2016, Alpha Company purchased 10,000 shares of Bravo Company stock, as trading securities, for $10 per share.

September 6, 2019 in /by

One January 2, 2016, Alpha Company purchased 10,000 shares of Bravo Company stock, as trading securities, for $10 per share. On July 3, 2016 the securities were trading on the open market for $12.50 per share. On December 31, 2016, the closing market price for these securities was $9.00 per share. What value should the trading […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

Alpha Company uses aging to estimate uncollectibles. At the end of the fiscal year, December 31, 2016, Accounts Receivable has a balance that consists of: Dollar Value

September 6, 2019 in /by

Alpha Company uses aging to estimate uncollectibles.  At the end of the fiscal year, December 31, 2016, Accounts Receivable has a balance that consists of:  Dollar Value Age of Account Estimated Collectible $125,000  < 30 days old 98% 85,000  30 to 60 days old 85% 50,000  61 to 120 days old 50% 10,000  > 120 days old […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

Alpha Company used the percentage of sales method, with an historical rate of 2.5% for determining their bad debt expense.

September 6, 2019 in /by

Alpha Company used the percentage of sales method, with an historical rate of 2.5% for determining their bad debt expense. During 2016, sales were $1,500,000, and the January 1 Allowance for Doubtful Accounts had a normal balance of $25,000. $18,600 of accounts were written off during the year. What are the year end dollar amounts for:   […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

On March 31, 2016, Alpha Company’s note receivable from Bravo Company was dishonored due to the extreme decline in economic conditions.

September 6, 2019 in /by

On March 31, 2016, Alpha Company’s note receivable from Bravo Company was dishonored due to the extreme decline in economic conditions. The note was a one-year, $10,000 note, issued on January 1, 2016, bearing 10%. Use this information to prepare for the Alpha Company the General Journal entries (without explanation) for March 31, 2016. If no […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"