Requirements 1. Journalize Surf and Sun's entry to record bad debts expense for 2018 using the aging-of-receivables method. 2. Prepare a T-account to compute the ending balance of Allowance for Bad Debts.

The answer is 1,130.55

Now, assume that the state of the limit order book is as follows just before the call of CBA's opening call auction: Buy Quantity Price $8.08 $8.01 $7.99 $7.96 $7.91 $7.87 $7.84 $7.82 0 0 0 a. $7.96 O b. $8.01 O c. Other O d. $7.99 e. $7.91 1800 800 1100 1900 800 Sell Quantity 1600 1800 1200 0 0 0 0 If no more orders are entered, the call price would be:

Accounting Question

ces TPC 06-01 (Static) [LO 6-5] Company Y began business in February 2023. By the end of the calendar year, it had billed its clients for $3.5 million of services and had incurred $800,000 of operating expenses. As of December 31, it had collected $2.9 million of its billings and had paid $670,000 of its expenses. It expects to collect the remaining outstanding bills and pay the remaining expenses by March 2024. Company Y adopted a calendar year for federal tax purposes. It may use either the cash method or the accrual method of accounting on its first tax return, and it has asked you to quantify the value of using the cash method for the first year. In doing so, assume Company Y uses a 5 percent discount rate to compute NPV. Use Appendix A. Note: Round discount factor(s) to 3 decimal places, intermediate computations and final answers to the nearest whole dollar amount. Enter your answers in dollars not in millions of dollars. Accrual method: Income from billings Expenses incurred Net…