User Account

All Pages

Calculate the bad debt expense

Assignment Help Accounting Basics
Reference no: EM132606525

Question - Hogan Industries uses an estimate of 6% of outstanding receivables for the purposes of providing for uncollectible accounts. The following information pertains to the allowance for doubtful accounts for 2011:

Beginning balance, Jan. 1/11 $20,000

Total debits during the year 8,000

Ending balance, after providing for uncollectible accounts $22,000

Required: (Use T account to assist with answers)

a) Calculate the bad debt expense for 2011.

b) Calculate the accounts receivable balance on Dec. 31/10.

c) Calculate the total amount of accounts receivable written off in 2011.

d) Calculate the accounts receivable balance on Dec. 31/11.

Reference no: EM132606525

Questions Cloud

Describe block grants and unfunded mandates : Since ratification of the U.S. Constitution, relations among state governments and the national government have grown to be much more interdependent.
Prepare all the necessary journal entries in the records : Prepare all the necessary journal entries in the records of Apple Ltd in relation to its investment in the associate, Pie Ltd based on the above information.
Make an income statement to calculate the profits : If overhead for the year was $62,000, make an income statement to calculate the profits of each of the two services, commercial and residential
Balance the budget of healthcare facility : Explain how case mix and occupancy rate can be used to help balance the budget of a healthcare facility.
Calculate the bad debt expense : The following information pertains to the allowance for doubtful accounts for 2011: Calculate the bad debt expense for 2011
How would the research be used in practice : Review the topics and concepts that were introduced throughout the course including study questions, purpose of research, study design, sample size.
Reflect on which type of dissemination strategy : Reflect on which type of dissemination strategy you might use to communicate EBP.
What are the macroeconomic variables : What Is Recession and during recession what are the Macroeconomic variables are going to be affected. Explain considering Bangladesh context.
Make the adjusting journal entry that would be recorded : The tax rates for 20x4 and 20x5 were 35% and 34%, respectively. Make the adjusting journal entry that would be recorded

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd