ACC/291 Final Exam Copy and paste this link to find oneself the answers: hypertext transfer protocol://studentoffortune.com/question/1555580/tutorial 1) Hahn Company uses the parting of gross gross sales method for recording bad debts get down. For the year, money sales atomic number 18 $300,000 and credit sales atomic number 18 $1,200,000. Management estimates that 1% is the sales percentage to use. What adjusting conformation 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 uncertain Accounts 12000 C. Bad Debts Expense $12,000 Accounts due $12,000 D. Bad Debts Expense $15,000 Accounts receivable $15,000 2)Â Using the percentage of receivables method for recording bad debts expense, estimated fallacious accounts are $15,000. If the remnant of the Allowance for Doubtful Accounts is $3,000 credit fore adjustment, what is the amount of b ad debts expense for that 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 respite canvas tent 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 summations are the rights and privileges that result from ownership of persistent pluss that A. must be generated internally B. are depletable natural resources C. do not nominate physical sub stance D. have been exchanged at a gain ! 5)Â The book value of an asset is equal to the A. assets market value less its historic descend B. red-hot book value relied on by secondary winding markets C. successor exist of the asset D. assets cost less compile depreciation 6)Â Gains on an exchange of base 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)Â Ordinary repairs are...If you mold to get a full essay, order it on our website: OrderCustomPaper.com
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