User Account

All Pages

Determine what is net realizable value of the receivables

Assignment Help Financial Accounting
Reference no: EM132739854

Problem 1: Alpha Gym allows services to be on account to loyal customers. The unadjusted Accounts Receivable at the end of the year amounts to ?120,000 and unadjusted Allowance for doubtful accounts amounts to ? 5,000. Service revenue for the year amounted to ? 1,250,000. If Alpha Gym estimates 2% of revenue as bad debts, what is the net realizable value of the receivables which should be presented in the statement of financial position?

a. ? 120,000
b. ? 95,000
c. ? 90,000
d. ? 115,000

Reference no: EM132739854

Questions Cloud

Calculate the amount of the net investment income : Rachel is single and has wages of $179,150 and dividend income of $107,490. Calculate the amount of the net investment income
Which types of discrimination eeo laws protect employees : Explain from which types of discrimination EEO laws protect employees. Give an example showing a company that is or has displayed discriminatory practices.
Website using modern web technologies : Software Development for the Web - Evaluate and justify the choice of language and platform for a website - website using modern web technologies
Why have so many rival professional sport leagues failed : Why have so many rival professional sport leagues failed in the United States?
Determine what is net realizable value of the receivables : If Alpha Gym estimates 2% of revenue as bad debts, what is the net realizable value of the receivables which should be presented in the statement of financial
Make a medium tray : Fely started a food business and she needs to know how much her plates cost to make to know how much her profit is. She has 3 sizes or seafood trays:
Find what is the partnership agreed capital : What The second cash payment to any partner/s under program of priorities shall be made thus? What is the partnership's agreed capital?
Marijuana was decriminalized in canada : Marijuana was decriminalized in Canada in October 2018. Since that time, many Canadian police departments have implemented policies regarding officials
Compute amount that reported by sheridan corporation : Compute the amount that should be reported by Sheridan Corporation as the total liability for finance leases on its December 31, 2022 balance sheet

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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