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E6-2, E6-7, E6-18




E6-2;Determine the due date and the amount of interest due at maturity on the following notes;Date of Note Face Amount Interest Rate Term of Note;a. January 6 $40,000 9% 45 days;b. March 23 9,000 10 60 days;c. May 30 12,000 12 90 days;d. August 30 18,000 10 120 days;e. October 110,500 8 60 days;E6-7;Estimating doubtful accounts;Newbury Bikes Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31, 2012, and a historical analysis of the percentage of uncollectible accounts in each age category are as follows;Estimate what the balance of the allowance for doubtful accounts should be as of December 31, 2012.;E6-18;Lower-of-cost-or-market inventory;On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9.;Commodity Inventory Quantity Unit Cost Price Unit Market Price;Buffal 35 $115 $120;Dakota 67 90 75;Frontier 8 300 280;Midwest 83 40 30;Rainbow 100 90 94


Paper#79562 | Written in 18-Jul-2015

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