Interpreting the Accounts receivable Footnote Hewlett-Packard Company (HPQ) reports the following in its 2007 10-K report.

October 31 (in millions) 2007 2006
Accounts receivable, net $13,420 $10,873

HPQ footnotes to its 10-K provide the following additional information relating to its allowance for doubtful accounts.

For the fiscal years ended October 31 (in millions)

2007 2006 2005
Allowance for doubtful accounts-accounts receivable
Balance, beginning of period $220 $227 $286
Increase in allowance from acquisition 245 3 4
Addition of bad debts provision 32 37 17
Deductions, net of recoveries (29) (48) (76)
Balance, end of period $226 $220 $227

Required:
a. What is the gross amount of accounts receivables for HPQ in fiscal 2007 and 2006?
b. What is the percentage of the allowance for doubtful accounts to gross accounts receivable for 2007 and 2006?
c. What amount of bad debts expense did HPQ report each year 2007 through 2006? What amount was actually written off?

Answer:

The answer is below

Explanation:

Interpreting the Accounts receivable Footnote Hewlett-Packard Company (HPQ) reports the following in its 2007 10-K report. We have the following:

(a) What is the gross amount of accounts receivables for HPQ in fiscal 2007 and 2006?($ millions)2007, 2006

Gross accounts receivable for year 2007 = $13,646 for year 2006 = 11,093

(b)What is the percentage of the allowance for doubtful accounts to gross accounts receivable for 2007 and 2006?(Round your answers to two decimal places.)($ millions) 2007 2006 Percentage of uncollectible accounts to gross accounts receivable for year 2007 =  1.66% for year 2006 =1.98 %

(c)What amount of bad debts expense did HPQ report each year 2005 through 2007? What amount was actually written off? ($ millions)2007, 2006, 2005,

Bad debt expense for year 2007 = $32. Year 2006 = $37.   Year 2005 = $17

Amount actually written off for year 2007 = $29.  Year 2006 = $48 Year 2005 = $76

Marigold Inc. disposes of an unprofitable segment of its business. The operation of the segment suffered a $192000 loss in the year of disposal. The loss on disposal of the segment was $99000. If the tax rate is 30%, and income before income taxes was $1630000.

a. the income tax expense on the income before discontinued operations is $378300.
b. the income from continuing operations is $1141000.
c. net income is $1339000.
d. the losses from discontinued operations are reported net of income taxes at $291000.

"16. An investment promises to pay $6,000 at the end of each year for the next five years and $4,000 at the end of each year for years 6 through 10. a. If you require a 12 percent rate of return on an investment of this sort, what is the maximum amount you would pay for this investment?"

Target (TGT) recently earned a profit of $4.15 per share and has a P/E ratio of 23.19. Earnings have been growing at 11.5 percent per year over the past few years. If this growth continues, what would the stock price be in five years if the P/E ratio remains unchanged

Headland Mining Company purchased land on February 1, 2020, at a cost of $1,169,500. It estimated that a total of 52,800 tons of mineral was available for mining. After it has removed all the natural resources, the company will be required to restore the property to its previous state because of strict environmental protection laws. It estimates the fair value of this restoration obligation at $96,300. It believes it will be able to sell the property afterwards for $107,000. It incurred developmental costs of $214,000 before it was able to do any mining. In 2020, resources removed totaled 26,400 tons. The company sold 19,360 tons. Compute the following information for 2020.
A) Per unit mineral cost.
B) Total material cost of December 31, 2020, inventory.
C) Total material cost in cost of goods sold at December 31, 2020.

Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200.

Required:
For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method.

Suppose that in a competitive market without government regulations, the equilibrium price of a hamburger is $7 each.
Complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding.
Statement Price Control Binding or Not
Due to new regulations, fast-food restaurants that would like to pay better wages in order to hire more workers are prohibited from doing so.
The government prohibits fast-food restaurants from selling hamburgers for more that $5 each.

1. As a young child, Karina had a passion for animals and environmental issues. After she graduated from college, Karina landed a job in an organization whose mission is to create public awareness about endangered animals and other environmental issues. Karina’s employer depends largely on grants and donations to fund business activities.

Allied Merchandisers was organized on May 1. Macy Co. is a major customer (buyer) of Allied (seller) products May 3 Allied made its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $10 5 Allied sold 1,500 of the units in inventory for $14 per unit (invoice total: $21,000) to Macy Co. under credit 7 Macy returns 125 units because they did not fit the customer 's needs (invoice amount: $1,750). Allied restores 8 Macy discovers that 200 units are scuffed but are still of use and, therefore, keeps the units. Allied sends cash per unit (for a total cost of $20,000) terms 2/10, n/60. The goods cost Allied $15,000 the units, which cost $1,250, to its inventory. Macy a credit memorandum for $300 toward the original invoice amount to compensate for the damage allowances, and any cash discount. 15 Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, Exercise 5-4 Recording sales, sales returns, and sales allowances LO P2
Prepare journal entries to record the following transactions for Allied assuming it uses a perpetual inventory system and the gross method. (Allied estimates returns using an adjusting entry at each year-end.) View transaction list Journal entry worksheet Allied made its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $10 cash per unit (for a total cost of $20,000).
Note: Enter debits before credits. Date General Journal Debit Credit May 03

Selected accounts from the ledger of McDaniel Corporation appear below. Indicate the nature of each account. Type Of Account

1. Supplies select a type of account
2. Notes Payable select a type of account
3. Service Revenue select a type of account
4. Dividends select a type of account
5. Accounts Payable select a type of account
6. Salaries and Wages Expense select a type of account
7. Common Stock select a type of account
8. Accounts Receivable select a type of account
9. Equipment select a type of account
10. Notes Receivable select a type of account

( Please Help thank you.)

Franchisors in foreign countries must be aware of
A: Ease of communication
B: Shared currency Values
C. Political Risk
D: shared values and customs

For Sheffield Corp., sales is $1660000 (8300 units), fixed expenses are $480000, and the contribution margin per unit is $80. What is the margin of safety in dollars

Andreasen Corporation manufactures thermostats for office buildings. The following is the cost of each unit:
Materials $ 36.00
Labor 14.00
Variable overhead 4.00
Fixed overhead ($1,800,000 per year; 100,000 units per year) 18.00
Total $ 72.00
Simpson Company has approached Andreasen with an offer to buy 7,500 thermostats at a price of $60 each. The regular price is $100. Andreasen has the capacity to produce the 7,500 additional units without affecting its current production of 100,000 units. Simpson requires that each unit use its branding, which requires a more expensive label, resulting in an additional $2 per unit material cost. The labor cost of affixing the label will be the same as for the current models. The Simpson order will also require a one-time rental of packaging equipment for $20,000.
Required:
a. Prepare a schedule to show the impact of filling the Simpson order on Andreasen’s profits for the year. (Enter your answers in thousands (i.e., 5,400,000 should be entered as 5,400). Select option "higher" or "lower", keeping Status Quo as the base. Select "none" if there is no effect.)
Status quo 100,000 units Alternative 107,500 units Difference Higher or lower

Sales Revenue ? ? ? ?
Less: variable cost ? ? ? ?
Materials ? ? ? ?
Labor ? ? ? ?
Variable Overhead ? ? ? ?
Total variable cost ? ? ? ?
Contribution margin ? ? ? ?
Less; fixed costs ? ? ? ?
Operating profit or loss ? ? ? ?
b. Do you agree with the decision to accept the special order. Yes or no?
c. Considering only profit, determine the minimum quantity of thermostats in the special order that would make it profitable, assuming capacity is available.... Quanitity of Themostats #___?____ units

What is a premium in personal finance HEEEEELLPPP

Yancey Productions is a film studio that uses a job-order costing system. The company’s direct materials consist of items such as costumes and props. Its direct labor includes each film’s actors, directors, and extras. The company’s overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars.At the beginning of the year, Yancey made the following estimates:Direct labor-dollars to support all productions $ 8,260,000Fixed overhead cost $ 4,956,000Variable overhead cost per direct labor-dollar $ 0.17Required:1. Compute the predetermined overhead rate. (I found the answer: .77 per DL$)2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs:Direct materials $ 1,386,000Direct labor cost $ 2,478,000Compute the total job cost for this particular film.Direct Materials: $1,386,000Direct Labor: $2,478,000

Winona and Hubert need to decide which one of them will take time off from work to complete the rather urgent task of shearing their llamas. Winona is pretty good with a pair of shears; she can shear the llamas in 1 hour. Hubert is somewhat slow; it takes him 9 hours to shear the llamas. Winona earns $200 per hour as a psychiatrist, while Hubert earns $25 per hour as a cobbler. Keeping in mind that either Winona or Hubert must take time off from work to shear the llamas, who has the lowest opportunity cost of completing the task?

a. Jacques
b. Kyoko and Jacques face equal opportunity costs
c. Kyoko

Eaton Tires manufactures tires for dune buggies and has two different products, nubby tires and smooth tires. The company produces 5,000 nubby tires and 10,000 smooth tires each year and incurs $172,000 of overhead costs. The following information is available:
Activity Total Cost Cost Driver
Materials handling $60,000 Number of requisitions
Machine setups 55,000 Number of setups
Quality inspections 57,000 Number of inspections
For the nubby tires, the company has 400 requisitions, 200 setups, and 200 inspections. The smooth tires require 600 requisitions, 300 setups, and 400 inspections.
Determine the overhead rate for each activity.

The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts. Note: You must complete parts 1, 2, 3, 4 before completing part 5.
Part 5: Enter the unadjusted trial balance on an end-of-period spreadsheet (work sheet) and complete the spreadsheet using the following adjustment data.
Insurance expired during May is $275.
Supplies on hand on May 31 are $715.
Depreciation of office equipment for May is $330.
Accrued receptionist salary on May 31 is $325.
Rent expired during May is $1,600.
Unearned fees on May 31 are $3,210.
If an amount box does not require an entry, leave it blank or enter "0".
Kelly Consulting
End-of-Period Spreadsheet (Work Sheet)
For the Month Ended May 31, 20Y8
Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash
Accounts Receivable
Supplies
Prepaid Rent
Prepaid Insurance
Office Equipment
Accum. Depreciation
Accounts Payable
Salaries Payable
Unearned Fees
Common Stock
Retained Earnings
Dividends
Fees Earned
Salary Expense
Rent Expense
Supplies Expense
Depreciation Expense
Insurance Expense
Miscellaneous Expense
Net income

A commodity’s demand causes its price to go up.
True
False

Brews 4 U is a local chain of coffee shops. Managers are interested in the costs of the stores and believe that the costs can be explained in large part by the number of customers patronizing the stores. Monthly data regarding customer visits and costs for the preceding year for one of the stores have been entered into the regression analysis.

Average monthly customer-visits 1,462
Average monthly total costs $4,629
Regression results: Intercept $1,496
b coefficient $2.08
R2 0.86814

Required:
a. In a regression equation expressed as y= a + bx, how is the letter b best described?
b. How is the letter y in the regression equation best described?
c. How is the letter x in the regression equation best described?
d. Based on the data derived from the regression analysis, what are the estimated costs for 370 customer-visits in a month?
e. What is the percent of the total variance that can be explained by the regression equation?

You would expect a bond of the U.S. government and a bond of an Eastern European government to pay different interest rates because of differences in the bonds_____.
You would expect a bond that pays the principal in year 2040 and a bond that pays the principal in year 2020 to pay_____interest rates because of differences in the bonds.
You would expect a bond from a software company you run in your garage and a bond from Coca-Cola to pay different interest rates because of differences in the bonds_____.
You would expect a bond issued by New York State to pay_____interest rate as compared to a bond issued by the federal government.

what are you being for halloween

The value of a share of common stock depends on the cash flows it is expected to provide, and those flows consist of the dividends the investor receives each year while holding the stock and the price the investor receives when the stock is sold. The final price includes the original price paid plus an expected capital gain. The actions of the marginal investor determine the equilibrium stock price. Market equilibrium occurs when the stock's price is -Select-less thanequal togreater thanCorrect 1 of Item 1 its intrinsic value. If the stock market is reasonably efficient, differences between the stock price and intrinsic value should not be very large and they should not persist for very long. When investing in common stocks, an investor's goal is to purchase stocks that are undervalued (the price is -Select-abovebelowequivalent toCorrect 2 of Item 1 the stock's intrinsic value) and avoid stocks that are overvalued.
The value of a stock today can be calculated as the present value of -Select-a finitean infiniteCorrect 3 of Item 1 stream of dividends:
This is the generalized stock valuation model. We will now look at 3 different situations where we can adapt this generalized model to each of these situations to determine a stock's intrinsic value:
1. Constant Growth Stocks;
2. Zero Growth Stocks;
3. Nonconstant Growth Stocks.
Constant Growth Stocks:
For many companies it is reasonable to predict that dividends will grow at a constant rate, so we can rewrite the generalized model as follows:
This is known as the constant growth model or Gordon model, named after Myron J. Gordon who developed and popularized it. There are several conditions that must exist before this equation can be used. First, the required rate of return, rs, must be greater than the long-run growth rate, g. Second, the constant growth model is not appropriate unless a company's growth rate is expected to remain constant in the future. This condition almost never holds for -Select-maturestart-upCorrect 4 of Item 1 firms, but it does exist for many -Select-maturestart-upCorrect 5 of Item 1 companies.
Which of the following assumptions would cause the constant growth stock valuation model to be invalid?
The growth rate is zero.
The growth rate is negative.
The required rate of return is greater than the growth rate.
The required rate of return is more than 50%.
None of the above assumptions would invalidate the model.
-Select-Statement aStatement bStatement cStatement dStatement eCorrect 6 of Item 1
Quantitative Problem 1: Hubbard Industries just paid a common dividend, D0, of $1.60. It expects to grow at a constant rate of 2% per year. If investors require a 10% return on equity, what is the current price of Hubbard's common stock? Round your answer to the nearest cent. Do not round intermediate calculations.
$ per share
Zero Growth Stocks:
The constant growth model is sufficiently general to handle the case of a zero growth stock, where the dividend is expected to remain constant over time. In this situation, the equation is:
Note that this is the same equation developed in Chapter 5 to value a perpetuity, and it is the same equation used to value a perpetual preferred stock that entitles its owners to regular, fixed dividend payments in perpetuity. The valuation equation is simply the current dividend divided by the required rate of return.
Quantitative Problem 2: Carlysle Corporation has perpetual preferred stock outstanding that pays a constant annual dividend of $2.00 at the end of each year. If investors require an 10% return on the preferred stock, what is the price of the firm's perpetual preferred stock? Round your answer to the nearest cent. Do not round intermediate calculations.
$ per share
Nonconstant Growth Stocks:
For many companies, it is not appropriate to assume that dividends will grow at a constant rate. Most firms go through life cycles where they experience different growth rates during different parts of the cycle. For valuing these firms, the generalized valuation and the constant growth equations are combined to arrive at the nonconstant growth valuation equation:
Basically, this equation calculates the present value of dividends received during the nonconstant growth period and the present value of the stock's horizon value, which is the value at the horizon date of all dividends expected thereafter.
Quantitative Problem 3: Assume today is December 31, 2013. Imagine Works Inc. just paid a dividend of $1.15 per share at the end of 2013. The dividend is expected to grow at 15% per year for 3 years, after which time it is expected to grow at a constant rate of 6% annually. The company's cost of equity (rs) is 9.5%. Using the dividend growth model (allowing for nonconstant growth), what should be the price of the company's stock today (December 31, 2013)? Round your answer to the nearest cent. Do not round intermediate calculations.
$ per share

1. You are 26 years old, married, and have two small children. You have a household income (take-home pay) of $3,500 per month and currently rent your home. You have and pay many bills, and make many purchases (usually by debit card) each month. You often lose track of spending and end up paying unnecessary bank fees. You would like to buy a new car in five months and a new home in two years. To avoid overdrafts, you chose "opt-in" overdraft protection with your bank. You just received your bank statement, which states a balance of $691, while your check register says you have a balance of $800. Which of the following accounts would be best for?
Purpose Type of accountA) Satisfying your day-to-day spending needs? ___________ B) Making and holding funds for your car purchase? ___________C) Making and holding funds for your home purchase? ___________D) Making and holding funds for your retirement?
A. Stock and bond portfolio.
B. NOW account.
C. NOW account.
D. Mutual funds.
2. Which of the following accounts is typically not insured?A. Mutual Funds.B. NOW account.
C. Certificate of deposit.
D. Statement savings account.
3. Which of the following practices would help you keep accurate records regarding the funds in your bank account?
A. Keep track of your balance online.B. Immediately record the date and amount of each transaction in your check register and calculate the new balance.C. Wait for the printed bank statement to arrive in the mail to know what payments and receipts have cleared your account.4. You can avoid a service fee on an average-balance account if you:______.
A. Issue a stop-payment order when you find yourself overdrawn.B. Keep a certain average daily balance in the account through a specified time.C. Avoid an overdraft for a specified time.D. Have your paycheck automatically deposited into your account each pay period.

Which staff member usually does the work of both a front desk clerk and an accounting clerk?
A. Controller
B. Credit manager
C. Accounts receivable clerk
D. Night auditor

true or false ,The first step in composing a message is to identify its purpose

Categories of expenditures
Eric and Ginny Gaffney live in Swarthmore, PA. Ginny's father, Kenji, lives in Sweden.
For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply.
Transaction C I G X M
Eric's employer upgrades all of its computer systems using U.S.-made parts.
Ginny gets a new refrigerator made in the United States.
Ginny's father in Sweden orders a bottle of Vermont maple syrup from the producer's website.
The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.
Eric buys a bottle of Italian wine.

What is the basic economic problem?

a
Creating stability in the stock market.
b
Making products available at places that are convenient for customers.
c
Being a competitive business in the marketplace.
d
Making choices about using limited resources to satisfy unlimited wants.

im on a test please help

Pix Company has the following production data for March: no beginning work in process, units started and completed 30,500, and ending work in process 5,200 units that are 100% complete for materials and 40% complete for conversion costs. Pix uses the FIFO method to compute equivalent units. If unit materials cost is $4 and unit conversion cost is $12. The total costs to be assigned are $533,760, prepare the cost section of the production cost report for Pix Company using the FIFO approach.

Suppose that per-unit costs for Alpha-Zeta Co. are $25 when they are producing 50,000 units. Now suppose that the firm increases production to 50,100 units and total costs are $2,000,000 at that level of production. Question: What is occurring as the firm increases production from 50,000 to 50,100 units?

Southwest Pediatrics has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $116,000; Allowance for Uncollectible Accounts = $1,900 (debit). On December 31, 2021, Southwest estimates uncollectible accounts to be 15% of accounts receivable.
Required:
1. Record the adjusting entry for uncollectible accounts on December 31, 2021.
2. Determine the amount at which bad debt expense is reported in the income statement and the allowance for uncollectible accounts is reported in the balance sheet.
3. Calculate the net realizable value of accounts receivable.