User Account

All Pages

How much bad debt expense should Apollo record

Assignment Help Accounting Basics
Reference no: EM133038016

Question - As of January 1, 2021, Apollo Co. had a credit balance of P520,000 in its allowance for uncollectible accounts. Based on experience, 2% of Apollo's gross accounts receivable have been uncollectible. During 2021, Apollo wrote off P650,000 of accounts receivable. Apollo's gross accounts receivable as December 31, 2021 is P18,000,000. How much bad debt expense should Apollo record for 2021?

a. P360,000

b. P880,000

c. P490,000

d. P230,000

Reference no: EM133038016

Questions Cloud

Explain strategic communicators : Question 1: Why is it important for Strategic Communicators to use different communication channels?
Examples of safe work practices : Problem: Identify 4 examples of safe work practices at the Righteous Inn that you might need to follow when working as a room attendant.
Food and beverage services : About this Assignment Production, which comprises everything from the processing of meats and packaged foods to the creation of alcoholic and non-alcoholic beve
BMG705 Global Business in Context Assignment : BMG705 Global Business in Context Assignment Help and Solution, University of Ulster - Assessment Writing Service
How much bad debt expense should Apollo record : for 2021?During 2021, Apollo wrote off P650,000 of accounts receivable. How much bad debt expense should Apollo record for 2021
Individual perceptions of ethical behaviour : 1. Suppose you have an employee whose lack of commitment is affecting others in your work group. How would you go about persuading this person to change their a
Decisions regarding child custody placement : When making decisions regarding a child's custody placement, judges must consider both the immediate and the long-term interests of the child.
What artificially inflated price must cadbury place : Assignment: In order to make its regular markup on a box of Milk Chocolate Biscuits Cadbury's requires a regular selling price of $12.83.
Calculate the gross profit : Bargain Merchandisers has the following transactions for the month of July-Net Sales Revenue $424,000 and Interest Revenue 7,000. Calculate the Gross Profit

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