User Account

All Pages

Find balance in the accounts receivable

Assignment Help Accounting Basics
Reference no: EM132452130

Problem - At the beginning of year 3 Randall company had a $18,600 balance in its account receivable account and a $1020 balance in allowance for doubtful accounts. During year 3 Randall experienced the following events.

Randall earned $26900 of revenue on account.

Collected $15130 cash from accounts receivable.

Wrote off $770 of accounts receivable as uncollectible.

Required - Randall estimates uncollectible accounts to be 3% of receivables. Based on this information the December 31, year 3 balance in the accounts receivable account is?

Reference no: EM132452130

Questions Cloud

Explain why scarcity leads to tradeoffs : Explain why scarcity leads to tradeoffs. Explain why individuals make choices that are directly on budget constraint, rather than inside the budget constraint
Compute the credit to interest receivable : On June 1, 2017, Kevin Co loaned an employee $17,000 for 9 months. When the note comes due in 2018, compute the credit to interest receivable
What is moral for each person or religion relative to god : What is moral for each person or religion is relative to God; there are no universal moral principles binding all people; no morality apart from God's will?
Compare and contrast benally views : Compare and contrast Benally's views on the nature of knowledge and truth with the views of Jaspers. Which viewpoint is closer to your own views?
Find balance in the accounts receivable : Randall estimates uncollectible accounts to be 3% of receivables. Based on this information the December 31, year 3 balance in the accounts receivable account
Contemporary medical ethicists and clinicians : Contemporary medical ethicists and clinicians are concerned about the role of patient autonomy in providing health care.
Work by mathematical induction on the degree of the formula : Prove by complete mathematical induction that any formula can be given a complete analytical tableau.
How do marketers strategically plan to market product : What do the answers to these questions tell you about the presumed target market and its relation to the controllable 4 P's of marketing?
How much should be reported as bad debt expense : If YRC has $67700 of current accounts and $4470 of deliquent accounts how much should be reported as bad debt expense

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