User Account

All Pages

Calculate the bad debt expense for zing inc

Assignment Help Accounting Basics
Reference no: EM132772141

Question - ZING, Inc. uses the aging method to estimate its bad debts. The information below has been collected regarding the company's outstanding customer accounts and their probability of collection:

Account Age -Probability of Non-Collection-Amount Owed

0-30 days- 0.3%- $1,089,000

31-60- days - 1.0%- 411,500

61-90- days 1-.5%- 256,600

91-120 -days -3.0%- 151,000

Over 120 days -15.0% -58,000

Required - The balance in ZING's Allowance for Uncollectible Accounts account at year end before adjusting for a bad debt estimate is $600. Calculate the bad debt expense for ZING, Inc. for the current year.

Reference no: EM132772141

Questions Cloud

Strategic management decision making in information : Describe the method used, the sample, the population chosen, was there a the survey involved or a set of questions asked as in a qualitative study.
Access controls procedure guide : Changing access controls can have some undesirable effects. Know what access controls were in place before any changes
What should be reported as shareholders equity : Retained Earnings Unappropriated 600,000. In the December 31, 2010 statement of financial position, what should be reported as shareholders' equity
Training materials for the medical professionals : Create some training materials for the medical professionals at your facility.
Calculate the bad debt expense for zing inc : The balance in ZING's Allowance for Uncollectible Accounts account at year end, Calculate the bad debt expense for ZING, Inc. for the current year
Embrace continual change : For organizations to prosper globally necessitates the ability to embrace continual change through continual learning. Offer examples of the ways leaders might
Make some industries harder to pioneer than others : Identify factors that might make some industries harder to pioneer than others.
What the safety stock for bond chemical : The lead time for each order is six weeks and the economic order quantity is 160 tonnes. What the safety stock for Bond's chemical
Can you think of how ms excel could be used : Can you think of how MS Excel could be used in addiitona to having a financial application. Read up on exporting (hint).

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the gross profit ratio

Compute cost of goods sold expense. In your calculations round weighted average cost to the nearest cent

  Discuss incurred and paid salary expenses

the estimated warranty expense when the sale is made in accordance with the matching principle

  What should be the amount of depreciation for 2011

Depreciation has been recorded through 2010. During 2011 an examination of the building by an engineering firm discloses that its estimated useful life is 15 years after 2010. What should be the amount of depreciation for 2011?

  The standard costs and actual costs for direct materials

the standard costs and actual costs for direct materials direct labor and factory overhead for the manufacture of 2500

  What is bobbys tax and book basis in the partnership

Bobby has a 50% profit and loss interest in the partnership. What is Bobby's tax and book basis in the partnership

  Book value method to record the conversion

Use the book value method to record the conversion of $9 million of bonds into common stock with a $10 par value if conversion occurred when the market price of the common was $24 per share, and total convertible debt outstanding amounted to $36 m..

  Compute the revenue and expense for each four years

Required: Compute the revenue, expense, and profit/loss for each of the four years. Prepare journal entries relating to these Investments at fair value

  Calculate what amount is allowed as a deduction

With reference to relevant legislation and case law, discuss and calculate what amount is allowed as a deduction for the decline

  Find the break-even number of barrels for the current year

Anheuser-Busch InBev SA/NV (BUD), Compute the anticipated break-even number of barrels for the following year. Round to the nearest whole barrel.

  Calculate the current ratio and debt ratio

Create a classified balance sheet in good form for the year ended 2013, Calculate the current ratio and debt ratio and explain your findings

  A high quality recommendation is convincing

A high quality recommendation is convincing

  Determine the growth rate of the company

Determine the growth rate of the company for each of next three years.

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