E8-8 Requirement: Compute the amount of allowance for uncollectible accounts to be reported in the balance sheet of V company: Estimated Uncollected Accounts Details Total Amount ($) Percentage Considered Uncollectible (%) Allowance for Doubtful Debts Accounts ($) A B C D 0 – 30 Days Past Due 60‚000 5% 3‚000 31 – 60 Days Past Due 4‚000 10% 400 Over 60 Days Past 2‚000 70% 1‚400 Total 66‚000 4‚800 Therefore‚ the amount of allowance for uncollectible accounts to be reported in the balance sheet of
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Joe Dirt Mrs. Peterson English 101 09 August‚ 2012 McDonald’s Manipulation It’s not always so easy to spot the tactics companies use to advertise. Many consumers may believe it’s the design or the neatness of an advertisement that sells the products. Although the neatness and boldness of color of the two burgers being displayed help to draw the attention of the consumer‚ it is not always what is noticed right away that wins someone over. Consensus‚ Reciprocation‚ Commitment‚ and Availability
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ACCT 3512 Chart of Accounts Accounts & 4 Characteristics by 6 Acct Types: FS‚ Real vs. Nominal & Normal Acct Bal (NAB) mjm cpa 9/13 (Contra Accts) [Historical Cost Exceptions] (ACCT 3512 emphasized accts in italics) by Marco J. Malandra‚ CPA 1. ASSETS: BS‚ Real‚ Dr NAB‚ (Cr if contra) 3. SHs’ EQUITY: BS‚ Real‚ Cr NAB (Dr if contra) Current [generally]: IC accts: Preferred Stock [at Par Value] Cash (Money Orders‚Checks‚Checking‚ Savings‚ Petty) Additional-paid-in-capital
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The Chart of Accounts The increases and decreases in accounting element as affected by a business transaction are recorded in a device called account name‚ account title or account. Each accounting element is composed of several accounts which describe the related economic transactions and events. To maintain uniform account name‚ the business must have a listing of all the accounts it uses to record economic transactions. This listing of all accounts is called “Chart of Accounts.” The Chart of
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Uncollectible Accounts Acc281: Accounting Concepts for Health Care Professionals Charity Care and Bad Debit Hospitals usually count bad debit in the non-compensation costs but there is a question of whether or not it should be included. There is some gray area when it comes to the difference between bad debit and charity when it comes to the Health care environment. Bad debit that won are bills that people don ’t pay for whatever reason and there is a difference between those who won ’t pay
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Individual Assignment Introduction to Financial Accounting (ACC106) Mega Lawa Trading is a sole proprietorship business owned by Milah Mela. Transactions below are the business activities for the month of December 2013. Date Transaction Effects of Transaction Principles of Double Entry 1 Started a business with a cash at bank for RM 15‚000 and cash in hand for RM 10‚000 3 Purchased machinery on credit from Happy Machine Supplies amounted to RM 90‚000 4 Bought inventories
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Advertising is more about manipulation than information." Critically discuss this statement‚ with detailed reference to the advertising techniques used in one advertising campaign or one class of product. The media are influential in the construction of reality for all of us living in this new world of information technology. It is from our engagements with the media how we perceive what the rest of the world is like. The media are the major means by which we construct an understanding of the
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Why are accounts important To begin by why accounts are important‚ a person should first know what accounts actually mean. Accounts are financial records of an organization that register all financial transactions‚ and must be kept at its principal office or place of business. The purpose of these records is to enable anyone to appraise the organization’s current financial position with reasonable accuracy. Firms present their annual accounts in two main parts: the balance sheet‚ and the income
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Friday is not compulsory for employees‚ only those who are willing to work on overtime rate‚ they do the job. The over time allowance re given t a rate of tk. Ten per hour for skilled workers and tk. Five for unskilled workers in the factory. Last month the workers have given notice in writing to the management (G.M. Production) and (GM HRM) to double their overtime allowance rates and to accept their request within a month. The reason for doubling their overtime rates as mentioned were many. Some
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Marlowe’s Manipulation When it comes to American heroes‚ many critics and casual readers alike rally unquestionably behind characters that portray honesty‚ courage‚ wit‚ and self-reliance. How can a reader truly assess a character’s qualities if the narration is told in a first person perspective? Philip Marlowe‚ a “hard-boiled private detective” created by Raymond Chandler in his first novel (Yearley par 15)‚ The Big Sleep‚ displays many of said admirable qualities. His story is also told
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