# Uop Acc 291 Final Exam Homework Help Essay

2434 Words10 Pages
ACC 291 Final Exam Assignments [pic] 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 Final Exam Answers just a click away ACC 291 Final Exam 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. Want more details? Download now ACC 291 Final Exam Answers Multiple