1) indy sport and hobby's allowance for doubtful accounts had an unadjusted credit balance of $400. the manager estimates that $900 of the accounts receivable is uncollectible. using the balance sheet approach, the year-end adjusting entry for bad-debts expense includes a

a) debit to the bad-debts expense account for $900.

b) credit to the bad-debt expense account for $500.

c) credit to the bad-debts expense account for $1,300.

d) debit to the bad-debts expense account for $500.

2) net realizable value can be defined as the

a) gross accounts receivable minus the allowance for doubtful accounts.

b) amount of accounts receivable you don't expect to collect.

c) gross accounts receivable.

d) current bad debts expense

"in my opinion, we ought to stop making our own drums and accept that outside supplier's offer," said wim niewindt, managing director of antilles refining, n.v., of aruba. "at a price of $21 per drum, we would be paying $4.70 less than it costs us to manufacture the drums in our own plant. since we use 70,000 drums a year, that would be an annual cost savings of $329,000." antilles refining's current cost to manufacture one drum is given below (based on 70,000 drums per year):

Suppose that a major city’s main thoroughfare, which is also an interstate highway, will be completely closed to traffic for two years, from january 2014 to december 2015, for reconstruction at a cost of $535 million. if the construction company were to keep the highway open for traffic during construction, the highway reconstruction project would take much longer and be more expensive. suppose that construction would take four years if the highway were kept open, at a total cost of $800 million. the state department of transportation had to make its decision in 2014, one year before the start of construction (so that the first payment was one year away). so the department of transportation had the following choices: (i) close the highway during construction, at an annual cost of $267.5 million per year for two years. (ii) keep the highway open during construction, at an annual cost of $200 million per year for four years. now suppose the interest rate is 80%. calculate the present value of the costs incurred under each plan.

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