ACC 556 STR Course Great Wisdom / tutorialrank.com ACC 556 STR Course Great Wisdom / tutorialrank.com | Page 79

Smithson Corporation‘s unadjusted trial balance includes the
following balances (assume normal balances):
Accounts Receivable
Allowances for Doubtful Accounts

$3,357,000
$

63,900

Bad debts are estimated to be 6% of outstanding receivables. What
amount of bad debt expense will the company record?
· Question 8
All of the following are characteristics of every accounting
information system except it is a system
· Question 9
Receivables are
· Question 10
Regions Inc. pays its rent of $48,000 annually on January 1 and
makes monthly adjusting entries. If the February 28 monthly
adjusting entry for prepaid rent is omitted, which of the following are
true?
· Question 11
What is an advantage of using the multiple-step income statement?
· Question 12
The primary difference between accrued revenues and unearned
revenues is that accrued revenues have:
· Question 13
Dobler Company gathered the following reconciling information in
preparing its June bank reconciliation:
Cash balance per books, 6/30

$8,400