ACC 422 - Week 2 Individual Exercises (E7-2, E7-8, E8-5, E8-14, P7-1, E8-25)
About the Week ACC 422 Week 2 Guide
The Week 2 Study Guide for ACC 422 provides all necessary answers to get an A+. All work is show and explained throughout the guide.
Checking account balance $925,000; certificate of deposit $1,400,000; cash advance to subsidiary of $980,000; utility deposit paid to gas company $180
At the end of 2010 Sorter Company has accounts receivable of $900,000 and an allowance for doubtful accounts of $40,000. On January 16, 2011, Sorter Company determined that its receivable from Ordonez Company of $8,000 will not be collected, and management authorized its write-off.
Werth Company asks you to review its December 31, 2010, inventory values and prepare the necessary adjustments to the books. The following information is given to you.