bidexboard XCO Remaining Time: 2 hours. 28 minutes, 50 seconds. Question Completion Status QUESTION 26 Calculate the grou profit for Macy Company based on the following Sales $764 cod Net Sales STOC Selling expenses 42 sod ministrin expenses Cost of rods sold a $721 Soo 5495,500 c. $206.000 d. $220.000 QUESTION 27 A credit balance in the Allowance for Doubtful Account is not the normal balance for that b. indices at actual bad debt write ots have been less than what was estimated O cindecades that actual bad debt write-offs have exceeded previo provision for bad debes d. cannot occur if the percentage of receivables method of estimating bad debts is wand QUESTION 28 Equipment costing $80,000 with a wellife of 10 years and residual value of $8.000 has been deprecated for years by the wine od A c alye Der Was the book value the end of 1.554200 c. 536,800 d. 143.200 QUESTION 29 Click Save and tone and will save All A l anner Blackboard - XCIOD Remaining Time: 2 hours 28 minutes 25 seconds. Question Completion Status d. 543,200 QUESTION 29 de whe do t On the first day of the fiscal year, Hawthorne Company obtained an 8000 yen ottom Sea Sudenk The fiscal year. The first payment consists of interest of $4,400 and principal part of $10.08 The journal w e would recorde a. debit to cash for $15,208 b. debit to test expense for $4,400 O credit to notes payable for $10,808 d. debit to notes payable for $15,208 her l ade QUESTION 30 The following data were gated to use in reconciling the back out of really cowy Outstandine check What is the adjusted balance on the bank reconciliation? 18.065 $11.250 515.200 d. 10.150 QUESTION 31 Shores sports ewe er cames and kayak Below is the bed wil b Cash Acces Recente d. 510,730 QUESTION 31 Shores Sports rents canoes and kayaks. Below is the adjusted trial balance December 31. Debit Credit Cash Accounts Receivable Interest Receivable Prepaid Insurance Notes Receivable (Long-Term) Equipment Accumulated Depreciation Accounts Payable Accrued Expenses Payable Income Taxes Payable 1,500 2,000 100 1,600 2,800 15,000 3,000 2,400 2.700 Uneaed Rent Fees 500 Common Stock 7.700 Duvidende Rental Revenue 37,000 1.300 Service Reve 19,000 1.800 Wars Expense Depreciation Expense Und Expense Insurance Expense M enance Experte 9.000 Income Tax Expen $8.520 Click Save and submit to wa i t Chia See All A t wall annen westion Completion Status Service Rever Wiges Expense Depreciation Expense 19.000 1,800 Utiles pense Insurance Expense 700 9000 Maintenance Expense Income Tax Expense 2.700 58,520 s at the end of the period includes a The entry required to close the reverse and expense a credit to Remed Earnings for $4,780 b.debt to Retained Earnings for 538,300 credit to R ed Earnings for $33,300 debetto Retained Earnings for 14.780 QUESTION 32 e pair Service a tiche Al wat t the hulle coffee On May 20, Wine Raw Service extended an offer of S108,000 for and th e price for sale $140.000 O May 30, W Ma value of $95.000 for property tax e s On July 4, Wise Repair Service was cred 150,000 for the land by a n $140.000 . Os we 55.000 d. 5115 000 QUESTIONS forensic accounting and financial Remaining Time: 2 hours, 27 minutes, 22 seconds. Question Completion Status N OT QUESTION 34 The accounting principle upon which deferrals and accruals are based is a. matching b.conservatism price-level adjustment d. cost QUESTION 35 How will the following using journal entry affect the accounting equation? 11,500 11.500 Uncamed Subscriptions Subscriptions Eamed a increase abilities, increase revenues b. decrease liabilities, decrease revenues increase assets, increase revenues d. decrease liabilities, increase revenues QUESTION 36 Which of the following is the best description of accounting's role in business? a. Accounting is not responsible for providing any form of information to us. That is the role of the Information Systems Department Accounting provides stockholders with information regarding the market value of the company's stocks c. Accounting provides information to managers to operate the business and to other users to make decisions regarding the economic condition of the company d. Accounting helps in decreasing the credit risk of the company QUESTION 37 Use the information below to answer the following