Martinez Company’s ending inventory includes the following i…

Martinez Company’s ending inventory includes the following items.   Product Units Cost per Unit Market per Unit Helmets 29   $ 57     $ 61   Bats 22     85       79   Shoes 43     102       98   Uniforms 47     43       43     Compute the lower of cost or market for ending inventory applied separately to each product.  

At the end of the current year, using the aging of receivabl…

At the end of the current year, using the aging of receivable method, management estimated that $24,750 of the account receivable balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a credit balance of $465. What adjusting entry should the company make at the end of the current year to record its estimated bad debt expense?  

The American Railway Union went on strike with this company’…

The American Railway Union went on strike with this company’s workers.  Before it was over, thousands of railroad workers in 27 states and territories were on strike, and transportation from Chicago to the Pacific Coast closed down.  President Cleveland ordered the Army to stop the strike.