Analysis of Accounts Receivable and Allowance for Doubtful Accounts Steelcase, Inc. reported the following amounts in its 2018 and 2017 10-K reports (years ended February 23, 2018, and February 24, 2017). ($ millions) 2018 2017 From the income statement: Net sales $3,055.5 $3,032.4 From the balance sheet: Accounts receivable, net 300.3 307.6 Customer deposits 28.2 15.9 From the disclosure on allowance for doubtful accounts: Balance at beginning of period 11.2 11.7 Additions (reductions) charged to income 2.5 4.5 Adjustments or deductions (2.6) (5.0) Balance at end of period 11.1 11.2 a. Prepare the journal entry to record accounts receivable written off as uncollectible in 2018. Also prepare the entry to record the provision for doubtful accounts (bad debts expense) for 2018. Enter answers in millions (as shown above).

Roi analysis using dupont model. charlie? s furniture store has been in business for several years. the firm? s owners have described the store as a ? high-price, highservice? operation that provides lots of assistance to its customers. margin has averaged a relatively high 32% per year for several years, but turnover has been a relatively low 0.4 based on average total assets of $800,000. a discount furniture store is about to open in the area served by charlie? s, and management is considering lowering prices in order to compete effectively. required: a. calculate current sales and roi for charlie? s furniture store. b. assuming that the new strategy would reduce margin to 20%, and assuming that average total assets would stay the same, calculate the sales that would be required to have the same roi as they currently earned. c. suppose that you presented the results of your analysis in parts a and b of this problem to charlie, and he replied, ? what

The plastic flowerpots company has two manufacturing departments, molding and packaging. at the beginning of the month, the molding department has 2,100 units in inventory, 70% complete as to materials. during the month, the molding department started 18,500 units. at the end of the month, the molding department had 3,150 units in ending inventory, 80% complete as to materials. units completed in the molding department are transferred into the packaging department. cost information for the molding department for the month follows: beginning work in process inventory (direct materials) $ 1,300 direct materials added during the month 28,900 using the weighted-average method, compute the molding department's (a) equivalent units of production for materials and (b) cost per equivalent unit of production for materials for the month. (round "cost per equivalent unit of production" to 2 decimal places.)

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of