ACC 577 help A Guide to career/uophelp.com ACC 577 help A Guide to career/uophelp.com | Page 32

the part unexpectedly became obsolete. Card had 250,000 units of this
inventory at December 31, 2004 and believes these parts can be sold as
scrap for $.02 per unit. What amount of probable loss from the purchase
commitment should Card report in its 2004 income statement?
Question 20
Mill Co.'s allowance for uncollectible accounts was $100,000 at the end
of 2005 and $90,000 at the end of 2004. For the year ended December
31, 2005, Mill reported bad debt expense of $16,000 in its income
statement. What amount did Mill debit to the appropriate account in
2005 to write off actual bad debts?
----------------------------------------------------------------------------
ACC 577 Week 3 Quiz (100 % Correct Answers)
For more course tutorials visit
www.uophelp.com
Week 3 Quiz
All Questions Details given below (Please Check)
Question 1
During 2004, Yvo Corp. installed a production assembly line to
manufacture furniture. In 2005, Yvo purchased a new machine and
rearranged the assembly line to install this machine. The rearrangement