User Account

All Pages

Determine the net realizable value of accounts receivable

Assignment Help Accounting Basics
Reference no: EM133097307

Question - Percent of Sales Method - At the end of the current year, Accounts Receivable has a balance of $450,000; Allowance for Doubtful Accounts has a debit balance of $4,000; and sales for the year total $2,030,000. Bad debt expense is estimated at 1/4 of 1% of sales.

a. Determine the amount of the adjusting entry for uncollectible accounts.

b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.

c. Determine the net realizable value of accounts receivable.

Reference no: EM133097307

Questions Cloud

How does a grand strategy differ : How does a grand strategy differ from an operational objective
HLTENN007 Administer and monitor medicines and intravenous : HLTENN007 Administer and monitor medicines and intravenous therapy Assignment Help and Solution - Identify and briefly describe the key objectives of the Health
What are the four root causes of unsustainability : -Before you can begin to solve a problem, you need to identify the cause. There are four basic things that we do has a human society that are unsustainable.
Describe the need for organization to build human capital : Describe the need for your organization to build Human Capital and Manage Knowledge, and some of the initiatives taking place to do that. Comment on the level o
Determine the net realizable value of accounts receivable : At the end of the current year, Accounts Receivable has a balance of $450,000; Determine the net realizable value of accounts receivable
Difference between data mining and predictive analyses : What is the difference between data mining and predictive analyses?
What should an employee do : In an Employee Review, what should an employee do and what should supervisors do?
An Ethical Dilemma : Identify the ethical issues in this case. Discuss your options and what the consequences of each option might be.
Example of fiduciary responsibility under erisa : What is an example of fiduciary responsibility under ERISA.

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