How mountain terrace medical center should report

Assignment Help Financial Accounting
Reference no: EM13509162

At September 30, 2012, the accounts of Mountain Terrace Medical Center (MTMC) include the following:

Accounts receivable

$145,000

Allowance for uncollectible accounts (credit balance)

3,500

During the last quarter of 2012, MTMC completed the following selected transactions:

1460_Journalize the transactions.png


Requirements

1. Journalize the transactions.

2. Open the Allowance for uncollectible accounts T-account, and post entries affecting that account. Keep a running balance.

3. Show how Mountain Terrace Medical Center should report net accounts receivable on its December 31, 2012 balance sheet. Use the three line reporting format

Reference no: EM13509162

Questions Cloud

Define how is the period of rotation affected : In the final part of its life cycle a particular rotating spherical star expands to four times its normal diameter. How is the period of rotation affected
Compute variable overhead spending variance : Order Up, Inc. provides order fulfillment services for e-commerce merchants. The company maintains warehouses that stock items carried by its clients.
How much has the vertical height of the skater changed : A 57.4-kg skateboarder starts out with a speed of 2.04 m/s. He does 104 J of work on himself by pushing with his feet against the ground. How much has the vertical height of the skater changed
Er diagram that you are unable to capture in the sql : ER diagram that you are unable to capture in the SQL statements and brie?y explain why you could not express them.
How mountain terrace medical center should report : Show how Mountain Terrace Medical Center should report net accounts receivable on its December 31, 2012 balance sheet.
What is the net torque on the door : Bob and Ray push on a door from opposite sides. They both push perpendicular to the door. Bob pushes 0.63 m from the door hinge with a force of 89 N. What is the net torque on the door
How long will it take for them to meet : John and Joan walk in opposite directions around a circular path, starting from the same point. How long will it take for them to meet
Find the pulsars angular velocity : A pulsar is a rapidly rotating neutron star. The Crab Pulsar is located in the Crab Nebula in the constellation Taurus. Find the pulsar's angular velocity
What is the magnitude of its tangential acceleration : A car starts a race from rest on a circular track and has a tangential speed of 43 m/s at the end of the third lap. The track has a radius of 91 m. what is the magnitude of its tangential acceleration

Reviews

Write a Review

Financial Accounting Questions & Answers

  A review of the prior years financial statements the

a review of the prior years financial statements the present years budget and januarys source documents produced the

  Qality of financial reporting in uae or other gcc countries

Has the adoption of IFRS improved the quality of financial reporting in UAE or other GCC countries? Bring true evidences.

  What are the relevant tax issues for matt

A friend recommends that Matt buy a beach house in order to increase his itemized deductions with the mortgage interest deduction. What are the relevant tax issues for Matt?

  Prepare closing entries and post

Prepare annual adjusting entries and post to the ledger accounts and Prepare closing entries and post

  During the present year kim incurs the subsequent expenses

during the present year kim incurs the subsequent expenses with respect to her beach front condominium in hawaii...

  Louis welch is general manager of united tanning salons

louis welch is general manager of united tanning salons. during 2012 welch worked for the company all year at a 6200

  Discuss what knowledge of these areas an auditor possess

Client’s position within the market. Give examples of risk that could be present and discuss what knowledge of these areas an auditor should possess

  Compute the annual breakeven number of meals

Compute the annual breakeven number of meals and Sales Revenue for the restaurant and compute the number of meals needed to earn operating income of $75,600 to replace Steve's salary from his

  Prepare your journal entry

The company wants to maintain the Allowance for Doubtful Accounts at 6% of gross accounts receivable

  Create the journal entry to record income taxes

Pretax accounting income includes interest revenue from municipal bonds (not taxable). This interest revenue is $25,000 in 2010, $30,000 in 2011, and $32,000 in 2012. The enacted tax rate is 40%. Create the journal entry to record income taxes for ..

  Compute the standard cost of one unit of product

Compute the budgeted amounts for 2010 for direct materials to be used, direct labor, and applied overhead. Compute the standard cost of one unit of product.

  Illustrate what is the market rate of return on this stock

The firm has established a pattern of increasing its dividends by 3 percent annually and expects to continue doing so. Illustrate what is the market rate of return on this stock?

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