As of May 31, Kiddy Day Care's general ledger balances, listed in alphabetical order of accounts, are as follows: Accounts Balance Accounts Payable $2,215.00 Accounts Receivable 2,555.00 Advertising Expense 983.00 Cash 21,298.00 Equipment 8,500.00 Income from Services 20,510.00 Prepaid Insurance 460.00 R. Ramirez, Capital (beginning) 21,572.00 R. Ramirez, Drawing 2,700.00 Rent Expense 1,900.00 Supplies 535.00 Utilities Expense 783.00 4,583.00 Wages Expense Required: 1. Prepare an income statement for the two months ended May 31, 20--. Kiddy Day Care Income Statement For Two Months Ended May 31, 20-- Revenue: Time Remaining: 0:25:54 All work saved.

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10. Elly's credit card record for the last 7 months is below. Based on the information from the table, what will be her new balance at the end of month 7? End of Month Previous New Payment Finance Principal New Balance Charges Received Charges Paid Balance 1 $0.00 $2200.00 $0.00 $0.00 $0.00 $2200.00 5 6 234567 2 $2200.00 $0.00 $44.00 $33.00 $11.00 $2189.00 $2189.00 $0.00 $43.78 $32.84 $10.95 52178.06 4 $2178.06 $0.00 $43.56 $32.67 $10.89 $2167.16 $2167.16 $0.00 $43.34 $32.51 $10.84 $2156.33 $2156.33 $0.00 $43.13 $32.34 $10.78 $2145.55 $2145.55 $0.00 $42.91 $32.18 $10.73 $?

Maxwell Inc., analyzed its accounts receivable balances at December 31, and arrived at the aged balances listed below, along with the percentage that is estimated to be uncollectible: % Considered Age Group Balance Uncollectible 0-30 days past due $300,000 1% 31-60 days past due 54,000 3% 61-120 days past due 60,000 6% 121-180 days past due 21,000 10% Over 180 days past due 6,000 20% $441,000 The company handles credit losses using the allowance method. The credit balance of the Allowance for Doubtful Accounts is $2,520 on December 31, before any adjustments. a. Determine the amount of the adjustment for estimated credit losses on December 31. b. Determine the financial statement effect of a write off of Porter Company's account on the following May 12, in the amount of $1,440. Use negative signs with answers, when appropriate. If a transaction increases and decreases the same Balance Sheet category, enter the increase amount in the first row and the decrease amount directly below (in…

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Compute the balance in the subsidiary accounts at the end of the month!

Oswego Clay Pipe Company provides services of $46,000 to Southeast Water District #45 on April 12 of the current year with terms 1/15, n/60. What would Oswego record on April 23, assuming the customer made the correct payment on that date? A. Cash Sales Revenue Accounts Receivable B. Cash Sales Discounts Accounts Receivable Interest Revenue C. Cash Sales Discounts Accounts Receivable D. Cash Accounts Receivable Sales Revenue Select one: O A. Option A OB. Option B O C. Option C OD. Option D Clear my choice 45,540 460 46,000 460 45,540 460 46,000 46,000 46,000 460 46,000 45,540 460

Blossom Company has a balance in its Accounts Receivable control account of $11,300 on January 1, 2022. The subsidiary ledger contains three accounts: Bixler Company, balance $4,200: Cuddyer Company, balance $2,200, and Freeze Company. During January the following receivable-related transactions occurred. Bixler Company Cuddyer Company Freeze Company (a) Credit Sales Collections $9,000 $7,900 2.600 8.800 7.100 8.500 Returns $0 3.000 Balance in the Freeze Company subsidiary account S 0 What is the January 1 balance in the Freeze Company subsidiary account?

The following data (in millions) were adapted from recent financial statements of CVS Health Corporation (CVS).   Year 2 Year 1 Sales   $256,776     $194,579   Operating income   12,467     10,170   Average accounts receivable   18,624     15,406   1.  Compute the accounts receivable turnover for Years 1 and 2. Round to one decimal place.   Accounts Receivable Turnover Year 2 fill in the blank 1 Year 1 fill in the blank 2 2.  Compute the days' sales in receivables for Years 1 and 2. Assume there are 365 days in the year, and round to the nearest day.   Number of Days' Salesin Receivables   Year 2 fill in the blank 3 days Year 1 fill in the blank 4 days 3.  Compute the return on sales for Years 1 and 2. Round to one decimal place.   Return on Sales   Year 2 fill in the blank 5 % Year 1 fill in the blank 6 % 4.  Based on the results in parts 1, 2, and 3, all the following are true except: The change in accounts receivable turnover from Year 1 to…

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