【文章內(nèi)容簡(jiǎn)介】 $15,500 $20,00029． Net accounts receivable is calculated as：A． Sales less sales discounts.B． Accounts receivable plus the allowance for uncollectible accounts.C． Accounts receivable less the allowance for uncollectible accounts.D． Accounts receivable less the bad debts expense..30． When the allowance method is used, the entry to write off a customer’s accountA． increases bad debts expense.B． has no effect on net accounts receivable. C． decreases net accounts receivable.D． Increases the balance of the allowance for uncollectible accounts.31． Which of the following statements about the statement of cash flows is true?A． The purchase of a heldtomaturity security is considered an investing activity.B． Collection of interest is an investing activity.C． Sales on account is the largest cash flow from operating activities.D． Loaning money to others is a financing activity.Table 1On December 31, 20X8, Troy Inc., had the following accounts and balances（before adjustment）on its books：Accounts Receivable $80,000Allowance for Uncollectible Accounts 2,000 （credit balance）Net Sales 500,00032． Refer to Table 1. Troy estimates that its Bad Debts Expense is 2% of Net Sales. The Bad Debts Expense for 20X8 should be:A． $10,000B． $12,000C． $8,000D． $1,60033． Refer to Table 1. Troy uses an aging schedule to estimate its uncollectible accounts. The aging schedule and the percentage of each category that is estimated to be uncollectible is given below：Current $40,000 2%130 days past due 30,000 10%Over 30 days past due 10,000 40% The balance in the Allowance for Uncollectible Accounts after adjusting should be：A．$2,000 B．$5,800 C．$7,800 D．$9,80034． Martinez Co. paid Acme Co. for merchandise with a $2,000, 90day, 8% note dated April 1. If Martinez pays off the note at maturity, what entry should Acme make on its books at that time?A．Cash 2,160 Notes Receivable 2,160B．Notes Payable 2,000Interest Expense 160 Cash 2,160C．Cash 2,040 Notes Receivable 2,000 Interest Revenue 40D．Cash 2,160 Notes Receivable 2,000 Interest Revenue 16035． Which accounts would be debited and credited in the entry to record accrued interest on a note receivable? Debit CreditA．Interest Revenue Interest Receivable B．Interest Receivable Interest RevenueC．Cash Interest RevenueD．Interest Receivable Cash36． Given the following information, pute the quick ratio. Salary Payable $4,000 Trading investments $10,000Inventory 100,000 Equipment 96,000Accounts Receivable 42,000 Cash 14,000Supplies 8,000 Accounts Payable 62,000A．1 B． C． D．37． Teresa Company began the period with 10 units in inventory, costing $5 each. During the period the pany purchased 100 units at a cost of $5 each. At the end of the period there were 13 units left on hand. What is the correct amount that should appear on the ine statement for the period and on the balance sheet at the end of the period?Ine Statement Balance SheetA． Cost of goods sold, $500 Inventory, $550B． Inventory, $485 Cost of goods sold, $550C． Cost of goods sold, $65 Inventory, $485D． Cost of goods sold, $485 Inventory, $6538． Sheridan Corp. has $10,000 of goods on hand at August 31, 20X8. Cost of goods sold averages 40% of sale revenue. Sales for the month of September are budgeted to be $143,000. If ending inventory at the end of September is budgeted to be $10,500, what amount of inventory will Sheridan’s managers need to purchase during September in order to meet this goal?A． $57,700B． $86,300C． $56,700D． Cannot be determined from the information given.Table 2Consider the following data for Reed Company for the current year:Units Unit Cost Total Beginning inventory 55 $10 $550Purchase February 4 22 12 264Purchase May 15 20 13 260Purchase October 20 48 15 720Sales during the year, 84 units @ $30 each.39． Refer to Table 2. What is the weightedaverage cost per unit?A．$ B．$ C．$ D．$40． Refer to Table 2. What is the cost of ending inventory, assuming the LIFO method is used?A．$889 B．$905 C．$622 D．$1,17241． Refer to Table 2. What is the cost of goods sold, assuming the FIFO method is used?A．$889 B．$905