User Account

All Pages

Find the amount of the adjusting entry

Assignment Help Accounting Basics
Reference no: EM132600061

Question - Allowance for Doubtful Accounts has a debit balance of $513 at the end of the year (before adjustment), and Bad Debt Expense is estimated at 2% of sales. If net credit sales are $973,000, find the amount of the adjusting entry to record the estimate of the uncollectible accounts?

a. $18,947

b. $513

c. $19,973

d. $19,460

Reference no: EM132600061

Questions Cloud

What is the maximum speed : A 368-g mass is attached to a massless spring of Hooke's law constant 925 N/m. It is initially at rest at equilibrium
7BSP1245 Finance For International Business Assignment : 7BSP1245 Finance For International Business Assignment Help and Solution, University of Hertfordshire - Assessment Writing Service
Compute depreciation for each of the five years : A machine costing $45,625 with a 5-year life and $2,700 residual value was purchased January 2. Compute depreciation for each of the five years
What ending inventory assuming fifo would be : Dunbar sold 640 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate calculations.)
Find the amount of the adjusting entry : If net credit sales are $973,000, find the amount of the adjusting entry to record the estimate of the uncollectible accounts
What is cost of good sold under weighted-average cost method : Beginning inventory, For the month of September, the company sold 29 units. What is cost of goods sold under the weighted-average cost method?
What is the sound intensity level : The sound intensity 29.1 m from a wailing tornado siren is 0.100 W/m2.
Draw a vector diagram showing the initial velocity vi : A supersonic aircraft is flying at 30o north of west at 2100 km/h. It then begins to turn eastward, emerging from the turn 2.5 min
What journal entry did Pincus record : Required - What journal entry did Pincus record to write off uncollectible accounts during 2021 and to recognize bad debt expense for 2021

Reviews

Write a Review

Accounting Basics Questions & Answers

  Repaying the entire loan

If you paid an extra $100 per month to reduce the principal due on the mortgage, how long would it take to repay half the principal due? In the case where you paid an extra $100 per month, how long would it take to repay the entire loan?

  Explain concisely to your staff the similarities between

explain concisely to your staff the similarities between an external audit and an internal audit the differences an it

  Since precision is not as important with managerial account

Since precision is not as important with managerial accounting, is ABC really worth the cost

  At an activity level of 8700 machine-hours in a

at an activity level of 8700 machine-hours in a monthbraughton corporations total variable maintenance and repair

  Define issuance of stock and borrowed funds

Troy Co. began operations on January 1, 2011, with $100000 from the issuance of stock and borrowed funds of $15000. Net income for 2011 was $5000.

  Provide data analysis to verify that you test model validity

Design a simulation to determine what percent of the orders satisfy the order amount. Provide data analysis to verify that you tested the model validity.

  How did such a situation lead to the demise of the apb

How did such a situation lead to the demise of the APB and why is the FASB faring somewhat better?

  Prepare a statement of revenues and expenditures

Prepare a statement of revenues, expenditures, and changes in fund balance for the year ended April

  What is the all goods things ltd static budget variance

All Good Things Ltd. planned on producing 600 units for the year. What is the All Goods Things Ltd. static budget variance

  Determine the costs of internal and external equity

New common stock can be sold to net the company $11 per share. Determine the costs of internal and external equity to Tempo Tughlaq

  Stunned by his confession you tell himthat he has to

you are employed as a seniormanager in an insurance organization. one of your responsibilitiesis to randomly review

  Create an estate planning strategy

TAX 665 Final Project. Create an estate planning strategy, showing versatility of thought, that will minimize estate and gift tax liability over the course of the client's life span, potentially another 30 years. Assure that as little future tax l..

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