15. Restructuring costs are not: a. More commonly recorded now than in the 1960s
ID: 2434636 • Letter: 1
Question
15. Restructuring costs are not:
a. More commonly recorded now than in the 1960s.
b. Often related to corporate downsizing.
c. Extraordinary items.
d. Included in income from continuing operations.
On December 31, 1999, Typical Fashions had balances in its accounts receivable and allowance for uncollectible accounts of $48,400 and $940, respectively. During 2000 Typical Fashions wrote off $820 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $1,140 at December 31, 2000. Bad debt expense for 2000 would be:
a. $ 320
b. $1,140
c. $ 820
d. $1,020
9. Marquinn Manufacturing Company reported accrual basis net income of $36,000 for the third quarter. Accounts payable decreased $4,000 and accounts receivable decreased $3,000. Net income under cash basis would be:
a. $27,000
b $35,000
c $36,000
d $37,000
15. Restructuring costs are not:
a. More commonly recorded now than in the 1960s.
b. Often related to corporate downsizing.
c. Extraordinary items.
d. Included in income from continuing operations.
On December 31, 1999, Typical Fashions had balances in its accounts receivable and allowance for uncollectible accounts of $48,400 and $940, respectively. During 2000 Typical Fashions wrote off $820 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $1,140 at December 31, 2000. Bad debt expense for 2000 would be:
a. $ 320
b. $1,140
c. $ 820
d. $1,020
9. Marquinn Manufacturing Company reported accrual basis net income of $36,000 for the third quarter. Accounts payable decreased $4,000 and accounts receivable decreased $3,000. Net income under cash basis would be:
a. $27,000
b $35,000
c $36,000
d $37,000
Explanation / Answer
15. Restructuring costs are not: d. Included in income from continuing operations. On December 31, 1999, Typical Fashions had balances in its accounts receivable and allowance for uncollectible accounts of $48,400 and $940, respectively. During 2000 Typical Fashions wrote off $820 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $1,140 at December 31, 2000. Bad debt expense for 2000 would be: d. $1,020 9. Marquinn Manufacturing Company reported accrual basis net income of $36,000 for the third quarter. Accounts payable decreased $4,000 and accounts receivable decreased $3,000. Net income under cash basis would be: d $37,000
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