On january 1, year 2, kincaid company's accounts receivable and the allowance for doubtful accounts carried balances of $65,400 and $1,700, respectively. during the year kincaid reported $162,000 of credit sales. kincaid wrote off $1,350 of receivables as uncollectible in year 2. cash collections of receivables amounted to $178,900. kincaid estimates that it will be unable to collect one percent (1%) of credit sales. the net realizable value of receivables appearing on kincaid's year 2 balance sheet will amount to:

Which of the following is not an example of one of the four mail advantages of prices on a free market economy

Astudent finds data on an internet site that contains financial information about selected companies. he plans to analyze the data and use the results to develop a stock investment strategy. what kind of data source is he using? what concerns might you have about drawing conclusions from this data set?

Expert computers was started in 2018. the company experienced the following accounting events during its first year of operation: started business when it acquired $40,000 cash from the issue of common stock. purchased merchandise with a list price of $32,000 on account, terms 2/10, n/30. paid off one-half of the accounts payable balance within the discount period. sold merchandise on account for $28,000. credit terms were 1/20, n/30. the merchandise had cost expert computers $16,000. collected cash from the account receivable within the discount period. paid $2,100 cash for operating expenses. paid the balance due on accounts payable. the payment was not made within the discount period. required record the events in a horizontal statements model below. in the cash flows column, use the letters oa to designate operating activity, ia for investing activity, fa for financing activity, or nc for net change in cash. if the account is not affected by the event, leave the cell blank. the first event is recorded as an example. what is the amount of gross margin for the period? what is the net income for the period?