MGT120H5 Final: MGT120H 2007 Summer Test and Test Solution.pdf
12
MGT120H5 Full Course Notes
Verified Note
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Document Summary
The adjusting entry for kathy"s employer at september 30 is: no entry is required, salaries expense. 400: sanderson corporation has a credit balance of ,000 in its allowance for doubtful accounts before any adjustments are made. Based on an aging of its accounts receivable at the end of the period, the company estimates that ,000 of its receivable are uncollectible. The amount of bad debts expense which should be reported for this accounting period is: ,000, ,000. 1: ,000, ,000, assume a company receives a bill for ,000 for advertising done during the current year. They receive their wages every friday for that week"s work. Collected ,000 rent from a tenant for the month of june. June 17 paid operating expenses of ,000 arising from expenses incurred in. June 18 collected ,000 from customers on account. June 30 received a utilities bill (,000) for the month of june. Net income for the month of june is: ,000, ,000, ,000, ,000.
