Business, 09.07.2019 01:20 slowik9467

Wang corporation follows generally accepted accounting principles in accounting for uncollectibles. wang received notification from a bankruptcy court that its customer, timber creek, had been adjudicated and released from all claims presently pending against it by wang corporation. frank wang, owner of wang corporation, was not at all with this decision. frank had anticipated recovering at least $50,000 from timber creek, and that balance remained in the accounts receivable accounts of wang corporation. because wang corporation has no further remedies for collection, frank directed the accounting department to prepare a journal entry to write off the account of timber creek.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 06:40

Burke enterprises is considering a machine costing $30 billion that will result in initial after-tax cash savings of $3.7 billion at the end of the first year, and these savings will grow at a rate of 2 percent per year for 11 years. after 11 years, the company can sell the parts for $5 billion. burke has a target debt/equity ratio of 1.2, a beta of 1.79. you estimate that the return on the market is 7.5% and t-bills are currently yielding 2.5%. burke has two issuances of bonds outstanding. the first has 200,000 bonds trading at 98% of par, with coupons of 5%, face of $1000, and maturity of 5 years. the second has 500,000 bonds trading at par, with coupons of 7.5%, face of $1000, and maturity of 12 years. kate, the ceo, usually applies an adjustment factor to the discount rate of +2 for such highly innovative projects. should the company take on the project?

Answers: 1

Answer

Business, 22.06.2019 23:00

Ernesto baca is employed by bigg company. he has a family membership in his company's health insurance program. the annual premium is $5,432. ernesto's employer pays 80% of the total cost. ernesto's contribution is deducted from his paycheck. what is his annual contribution? $1,086.40 $1,125.65 $1,527.98 $1,567.20 save and exit

Answers: 3

Answer

Business, 23.06.2019 02:00

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.

Answers: 3

Answer

Business, 23.06.2019 02:40

Peter, the marketing manager of a company that manufactures church furniture, has been given the job of increasing corporate profits by five percent during the upcoming year. peter decided to give his assistant the full responsibility and authority for developing a mailing campaign to target churches in an entire state. in other words, peter has

Answers: 1

Answer

You know the right answer?

Wang corporation follows generally accepted accounting principles in accounting for uncollectibles....

Questions