Solved >   ____              11.A contingent liability should be recorded:1542077 …


____              11.A contingent liability should be recorded in the accounts if it is:


                            b.reasonably possible.

                            c.probable and reasonably estimable.

                            d.Both (a) and (b) above.

____              12.In a period of rising prices, the inventory method that results in the lowest income tax payment is:



                            c.average cost.

                            d.specific identification.

____              13.On June 30, Gaston Company issued a $9,000, 8%, 6-month note to National Bank. The entry on Gaston’s books to record the payment of the note at maturity will include a credit to Cash for:





____              14.The following information is available for McDaniel Company:

                            Beginning Inventory$  80,000

                            Cost of Goods Sold360,000

                            Ending Inventory60,000

                            Net Sales600,000

                            Inventory turnover for the year is:

                            a.4.5 times.

                            b.5.1 times.

                            c.10.0 times.

                            d.6.0 times.

____              15.Sister Sue Corporation’s unadjusted trial balance includes the following balances (assume normal balances):

Accounts Receivable$247,000

Allowance for Doubtful Accounts4,400

Bad debts are estimated to be 4% of outstanding receivables. What amount of bad debts expense will the company record?





____              16.The following information is available for Aikman Company:


                            Ending Inventory18,000Purchase Returns and Allowances3,000

                            Purchases120,000Beginning Inventory22,000

                            Aikman’s cost of goods sold is:





____              17.If ending inventory is understated, net income and assets will be:

                            Net Income   Assets   




                            d.None of the above.

____              a18.Ryan has agreed to pay $50,000 each to McCoy and Alexander for one-fourth of their interest in their partnership. At the time of the admission, McCoy and Alexander had balances of $80,000 each in their capital accounts. The entry to record the admission of Ryan includes a credit to his capital account for:





____19.A company purchased land for $60,000 cash. Real estate brokers’ commission was

$6,500 and $10,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the cost principle, the cost of land would be recorded at:





____              20.Which of the following errors will cause a trial balance to be out of balance? The entry to record a payment on account was:

                            a.posted as a debit to Cash and a debit to Accounts Payable.

                            b.posted as a debit to Cash and a credit to Accounts Payable.

                            c.posted as a debit to Accounts Receivable and a credit to Cash.

                            d.not posted at all. is an online academic writing platform that provides extensive assistance to graduate school students as they work through their research projects, papers and dissertations. gives students access to experienced professionals who can provide the help they need in a timely and efficient manner. The service offers a wide range of services, including editing, proofreading, formatting, researching and more that can give students the confidence they need to write the perfect paper or dissertation for their chosen subject matter.

Services Offered by offers a wealth of different services designed to make research projects easier for graduate school students. These include editing, proofreading, formatting and researching services, all tailored specifically for graduate-level studies such as PhDs or Master’s degrees in any field from business administration to engineering or even psychology – all with the aim of helping busy students find success in their academics without having to sacrifice other important commitments like family time or work hours towards earning a living wage outside of college hours.

The Benefits of Using
Using gives you access to experts from all over the world who are highly qualified and experienced in helping graduate-level students to complete successful projects in various fields quickly and efficiently – something that would otherwise be difficult, if not impossible, given tight deadlines associated with most Ph.D./Master’s degree programs today. Moreover, using this platform makes it easier for students to keep up with multiple research tasks simultaneously since there are so many different experts available on tap at any one time – no longer will you have to put off studying one topic while focusing on another because of lack of resources! Additionally, having access to professional editors, proofreaders, but also formatters means that quality control standards aren’t sacrificed when finishing major pieces – since these individuals understand what makes up good academic writing better than anyone else and can offer guidance on how best one should go about making improvements along those lines. Finally, there is also an added cost-saving benefit associated with utilizing Graduate Writer Help compared to hiring an independent contractor (which could potentially run into thousands depending on length/complexity).
This service allows users only pay for what students need, which tends to be much lower overall because customers pay per hour rather than project basis, thus resulting to greater financial flexibility, especially for those just starting out postgraduate studies looking to conserve some pennies here there whenever possible!

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?