User Account

All Pages

Discuss a zero percent chance of collection

Assignment Help Accounting Basics
Reference no: EM131807113

Manilow Corporation operates in an industry that has a high rate of bad debts. Before any year-end adjustments, the balance in Manilow's Accounts Receivable account was $609,800 and the Allowance for Doubtful Accounts had a credit balance of $44,500. The year-end balance reported in the balance sheet for Allowance for Doubtful Accounts will be based on the aging schedule shown below.


Days Account Outstanding
Amount		 Probability of
Collection
Less than 16 days $319,200 0.97
Between 16 and 30 days 116,400 0.91
Between 31 and 45 days 88,600 0.85
Between 46 and 60 days 40,700 0.81
Between 61 and 75 days 27,600 0.57
Over 75 days 17,300 00

Assume that accounts with a zero percent chance of collection are intended to be written off.

Reference no: EM131807113

Questions Cloud

Construct the relevant hypothesis to test : Consider the following sample data drawn independently from normally distributed populations with unequal population variances.
Assuming the market interest rate : Compute its current value, assuming the market interest rate for such investments is 5% per year, compounded semiannually. Contributed by D. P. Loucks,
What is aspen budgeted production cost per widget : In September, Aspen expects to produce 120,000 widgets. Assuming no structural changes, what is Aspen 's budgeted production cost per widget for September
What is the bond price : If the current market rate is 8% interest compounded semiannually, what is the bond's price?
Discuss a zero percent chance of collection : Assume that accounts with a zero percent chance of collection are intended to be written off
Current market interest rate is a nominal : A zero-coupon bond (coupon rate = 0%) with a face value of $10,000 and maturity date in 5 years is being considered for purchase by Pam.
What is the expected rate of return on the project : Consider the following probability distribution of returns estimated for a proposed project that involves a new ultrasound machine
Year with semiannual payments : A city government wants to raise $3 million by issuing bonds. By ballot proposition, the bond's coupon interest rate was set at 8% per year with semiannual
Organization should he utilize according to the book : In order for Randall to be successful, which type(s) of communication within an organization should he utilize according to the book?

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