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9 Required information The following information applies to the questions displayed below.) Part 2 of 4 Willie Cheetum is the CEO of Happy Foods, a
9 Required information The following information applies to the questions displayed below.) Part 2 of 4 Willie Cheetum is the CEO of Happy Foods, a distributor of produce to grocery store chains throughout the Midwest. At the end of the year, the company's accounting manager provides Willie with the following information, before any adjustment 7.69 points Accounts receivable 5970,000 Estimated percentage uncollectible 9 Allowance for uncollectible account. $ 27,000 (credit) Operating income $247,000 Wille's compensation contract states that if the company generates operating income of at least $197,000, he will get a salary bonus early next year. 2-a. After the adjustment is recorded in Part 1, what is the revised amount of operating income? Revised operating income 2-b. Will Wille get his salary bonus? Yes NO Help Save & Exit the end of the year, the company's accounting manager provides Wilie with the following information, before any adjustment 10 Accounts receivable 5970,000 Estimated percentage wollectible 98 Allowance for collectible accounts $27.000 eredit) Operating con $247,000 Part of Wille's compensation contract states that if the company generates operating income of at least $197.000, he will get a salary bonus early next year 709 points 3. Wille instructs the accountant to record the adjustment for uncollectible accounts using 6K rather than 9% of accounts receivable. Now wit Wille get his salary bonus? Multi Choice Yes No 11 Required information [The following information applies to the questions displayed below) Part 4 of 4 Wille Cheetum is the CEO of Happy Foods, a distributor of produce to grocery store chains throughout the Midwest At the end of the year, the company's accounting manager provides Wille with the following information before any adjustment 7.72 points Accounts receivable $970,000 Estimated percentage uncollectible Allowance for uncollectible contes 37,000 credit) Operating income $247,000 Willo's compensation contract states that if the company generates operating income of at least $92000, he will get a salary bonus early next year 4. By how much would total assets and operating income be misstated using the 6% amount? Tot assets Operating income
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