During the accounting period cuevas recorded

Assignment Help Accounting Basics
Reference no: EM13929368

The following account balances come from the records of Cuevas Company:

1756_264-B-A-C-R (1696).png

During the accounting period, Cuevas recorded $11,000 of sales revenue on account. The company also wrote off an $120 account receivable.

Required: 

a. Determine the amount of cash collected from receivables. 
b. Determine the amount of uncollectible accounts expense recognized during the period. 

Reference no: EM13929368

Questions Cloud

How is nestle water handling changes in demographics : Which trend do you feel is having the greatest impact? Why? Identify which of the four trends is affecting your Nestle Water.
Locate two sources of how quality control : Locate two sources of how quality control is used in business today. Then write 1-2 paragraph describing
Experiment to reduce the probability of a type ii error : Having just made what you believe to be a Type II error, using an independent groups design and a t test analysis, name all the things you might do in the next experiment to reduce the probability of a Type II error.
Overseeing a production process involving use of toluene : Air Sampling Problem: You are an industrial hygienist that is conducting personal sampling on a worker who is overseeing a production process involving use of toluene (Note: The Occupational Safety and Health Administration has established a Permissi..
During the accounting period cuevas recorded : Determine the amount of uncollectible accounts expense recognized during the period.
What are the observable artifacts, espoused values : Use the competing values framework to diagnose Chrysler's culture. To what extent does it possess characteristics associated with clan, adhocracy, market, and hierarchy cultures?
Determine the rotational speed and diameter of the runner : Determine the rotational speed and diameter of the runner - the flow angles at outlet from the guide vanes and at runner exit;
Adjusted the accounting records to reflect the estimate : Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account.
Recognized uncollectible accounts expense : Recognized uncollectible accounts expense. Eccles estimated that uncollectible accounts expense will be 1 percent of sales on account.

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.

  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!

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