Acc 291 Final Exam Uop a+ Course Tutorial Essay

2435 WordsJun 9, 201510 Pages
NEW ACC 291 Final Exam Multiple Choice Question 86 An aging of a company's accounts receivable indicates that $4,500 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1,200 credit balance, the adjustment to record bad debts for the period will require a     debit to Bad Debt Expense for $4,500. debit to Bad Debt Expense for $3,300. credit to Allowance for Doubtful Accounts for $4,500. debit to Allowance for Doubtful Accounts for $3,300. Multiple Choice Question 182 The financial statements of the Melton Manufacturing Company reports net sales of $300,000 and accounts receivable of $50,000 and $30,000 at the beginning of the year and end of year, respectively. What is the average collection period for accounts receivable in days?     60.8 96.1 36.5 48.7 Find the quiz answers here ACC 291 Final Exam Answers Multiple Choice Question 119 Stine Company purchased machinery with a list price of $64,000. They were given a 10% discount by the manufacturer. They paid $400 for shipping and sales tax of $3,000. Stine estimates that the machinery will have a useful life of 10 years and a residual value of $20,000. If Stine uses straight-line depreciation, annual depreciation will be     $3,760. $4,072. $6,100. $4,100. Multiple Choice Question 198 Given the following account balances at year end, compute the total intangible assets on the balance sheet of Janssen Enterprises. Cash $1,500,000 Accounts Receivable 4,000,000 Trademarks 1,000,000 Goodwill 2,500,000 Research & Development Costs 2,000,000     $7,500,000. $5,500,000. $3,500,000. $9,500,000. Find the final exam answers here ACC 291 Final Exam Answers Multiple Choice Question 207 On January 1, a machine with a useful life of five years and a residual value of $40,000 was

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