Answer

On December 31, 2016, the end of Larry's Used Cars first year of operations, the accounts receivable Was $53, 600. The company estimates that $1, 200 of the year-end receivables will not be collected. Accounts receivable in the 2016 balance sheet will be values at: $ 53, 600. $ 54, 800. $52, 400. $ 1, 200. Cal Farms reported supplies expense of $2,000,000 this year. The supplies account decreased by $200,000 during the year to an ending balance of $400,000. What was the cost of supplies the Cal Farms purchased during the year? $1.600,000. $1, 800,000. $2, 200,000. $2, 400,000. Mama's Pizza Shoppe $8,000 at 9% interest on May 1, 2016, with principal and interest due on October 31, 2017. The company's fiscal year ends June 30, 2016. What adjusting entry is necessary on June 30, 2016? No entry. Interest expense 240 Interest payable 240 Interest expense 120 Interest payable 120 Prepaid interest 120 Interest payable 120 In its first year of Best Corp. had tax Best income tax payments totaling $210,000 during the year and has an income tax rate of What was Best's net income for the year? $290,000. $294,000. $300,000. $306,000. Dave's Duds reported cost of sold ofs2,000,000 this year. The inventory account goods increased by $200,000 during the year to an ending balance of $400,000. What was the cost of merchandise that Dave's purchased during the year? $1, 600,000. $1, 800,000. $2, 200,000. $2, 400,00