Calculate bad debt expense

Assignment Help Corporate Finance

Reference no: EM1347454

At December 31, Amy Jo's Appliances had adjusted account balances in accounts receivable of $311,000 and $970 (debit) in the allowance for uncollectible accounts. An analysis of Amy Jo's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 2% of accounts receivable. Bad debt expense for the year should be:

1. $6,220.
2. $6,450.
3. $5,250.
4. $7,190

Reference no: EM1347454

Questions Cloud

Compute the share price : Receiving per share for 2010 had been 22.8 pence, & Andrew Osborne expects this to rise to 25 pence per share for 2011. Compute the share price.

Evaluating proposals with help of cvp analysis : Phonetronix is the small manufacturer of telephone and communications devices. Recently, company management decided to investigate the profitability of cellular phone production. They've three different proposals to evaluate.

Illustrate what is approximately the maximum amount : Illustrate what is approximately the maximum amount the firm is willing to pay to be allowed to use more units of input x, for small.

Determine the actual bits sent by the sender : Determine the actual bits sent by the sender? Include some idleness bits before and after the frame. Let bit-stuffing (also known as bit-insertion).

Calculate bad debt expense : Amy Jo's machines had adjusted account balances in accounts receivable of $311,000 and $970 in allowance for uncollectible accounts.

Cvp analysis of advanced electronics : Houston-based Advanced Electronics manufactures audio speakers for desktop computers. The following data relates to period just ended when the company manufactured and sold 42,000 speaker sets:

Create a plot of a cubic spline fit : Create a plot of a cubic spline fit of following data with natural end conditions: x 0 100 200 400f(x) 0 0.82436 1.00000 0.73576. compare the plot with the following equation which was used to create data.

Cvp analysis of plainfield bakers : Plainfield Bakers manufactures and sells the popular line of fat free cookes under name Aunt May's cookies. The process Plainfield employs to manufacturer the cookies is labor-intensive; it relies heavily on direct labor.

Balance sheet under long term liabilities : ACME Corporation fiscal year ends on December 31st. At the end of 1st quarter on March 31, ACME owes $40,000 on a vehicle loan that matures in three (3) years.

User Account

All Pages