Reference no: EM132938636
Question - On January 01, 2020, HEY HOUR Company reported that the allowance for doubtful accounts has a DEBIT balance of P10,000. Bad debt recoveries and bad debts written off in the current year were P50,000 and P120,000, respectively. The allowance account had been previously calculated as a percentage of net sales. It was decided however to provide for doubtful accounts commencing with the December 31, 2020 adjusting entry on the basis of an analysis of the age of the receivables. The following schedule was prepared:
(1) Accounts not due, (rate of uncollectibility - NIL) - 1,500,000
(2) Accounts 1-30 days past due (rate of uncollectibility - 5%) - 1,000,000
(3) Accounts 31-60 days past due (rate of uncollectibility - 7%) - 500,000
(4) Accounts 61-90 days past due (rate of uncollectibility - 10%) - 400,000
(5) Accounts over 90 days past due (rate of uncollectibility - 20%) - 200,000
Required - How much is the gross accounts receivable at year end?
|
Analyse scoville personality
: Analyse Scoville's personality using the OCEAN framework. What, according to you, would he score in each of the OCEAN traits? Cite examples or instances to supp
|
|
Explain what would happen to producer and consumer surplus
: Explain what would happen to producer and consumer surplus if the price were other than the market price
|
|
What is unemployment insurance
: What is unemployment insurance? Is an organization required to pay unemployment benefits to all dismissed employees? Explain how you would go about minimizing y
|
|
Explain impact on the organization
: You work for a global professional services firm, which has been seen for decades as an employer of choice. Last month, you were promoted to the position of Vic
|
|
How much is the gross accounts receivable at year end
: Bad debt recoveries and bad debts written off in the current year were P50,000 and P120,000, How much is the gross accounts receivable at year end
|
|
Calculate the material quantity variance
: Following are the details of Exceed Battery Company for the period ended June 30, 2020. Calculate the Material quantity variance
|
|
Describe a recruitment strategy
: I recently hired you as my new Human Resources Director. One of my employer branding messages is that I want high performers from diverse backgrounds on our tea
|
|
Prepare journal entries to record the June cash transactions
: As at May 31, 2021, there was $900 of unearned revenue. Prepare journal entries to record the June 2021 cash transactions
|
|
Foundation for evaluating the morality of human resources
: What is the foundation for evaluating the morality of human resources activities in an organization?
|