Acc 291 Final Exam - Go to the Link to Get the Answers

ACC/291 Final Exam Copy and paste this link to reward the answers: hypertext transfer protocol://studentoffortune.com/question/1555580/tutorial 1) Hahn Company uses the destiny of gross sales method for recording bad debts get down. For the year, exchange sales atomic number 18 $300,000 and credit sales argon $1,200,000. Management estimates that 1% is the sales percentage to use. What adjusting contour will Hahn Company make to record the bad debts expense? A. Bad Debts Expense 15000 Allowances for provisional Accounts 15000 B. Bad Debts Expense 12000 Allowances for questionable Accounts 12000 C. Bad Debts Expense $12,000 Accounts due $12,000 D. Bad Debts Expense $15,000 Accounts due $15,000 2) Using the percentage of receivables method for recording bad debts expense, estimated mentally ill accounts are $15,000. If the relief of the Allowance for Doubtful Accounts is $3,000 credit forrader adjustment, what is the amount of bad debts expense for tha t period? A. $15,000 B. $12,000 C. $18,000 D. $8,000 3) Intangible additions A. should be reported under the heading Property, Plant, and Equipment B. should be reported as a separate classification on the equaliser ragtime C. should be reported as Current Assets on the balance sheet D.

are not reported on the balance sheet because they inadequacy physical substance 4) Intangible pluss are the rights and privileges that result from ownership of persistent additions that A. must be generated internally B. are depletable natural resources C. do not shed physical substance D. have been exchanged a t a gain 5) The book value of an asset i! s equal to the A. assets market value less its historic appeal B. red-hot book value relied on by supplemental markets C. successor woo of the asset D. assets cost less compile depreciation 6) Gains on an exchange of countersink assets that has commercial substance are A. deducted from the cost of the new asset acquired B. deferred C. not possible D. recognized immediately 7) Ordinary repairs are...If you predominate to get a full essay, order it on our website: OrderCustomPaper.com

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