How much is the uncollectible account expense

Assignment Help Financial Accounting
Reference no: EM132679136

The accounts of Pollux Company as of December 31, 2019, show:

Accounts Receivable, PHP 200,000;

Allowance for Uncollectible Accounts, PHP 1,000 (credit balance);

Sales, PHP 1,000,000; and

Sales Returns and Allowances, PHP 15,000.

Problem 1: How much is the uncollectible account expense if it is estimated at 3% of accounts receivable? How much is your Accounts Receivable net realizable value?

Reference no: EM132679136

Questions Cloud

How do compute what is the bond yield to maturity : Compute what is the bond yield to maturity? The bond has a face value of $1,000 and has an 8% annual coupon. The bond has a current yield of 8.37%.
Describe the physiological processes : Describe the physiological processes that underlie a normal ECG. Your answer should include an explanation of the movement of ions involved in the generation
What is the npv of project : The tax rate is 23 percent and the required rate of return is 19 percent. What is the NPV of this project?
Advise laura on which option she should : 1. Laura James just won the lottery of $2.5 million dollars. She is given two options to receive her winnings after tax deductions:
How much is the uncollectible account expense : How much is the uncollectible account expense if it is estimated at 3% of accounts receivable? How much is your Accounts Receivable net realizable value?
Construct the equity section of digital balance sheet : Digital Systems Company, Construct the equity section of Digital's balance sheet initially and at the end of its first and second years in business.
What is the function of a mutual fund : What is the function of a mutual fund? Why are mutual funds popular among investors? How does a money market mutual fund differ from a stock
What is the beta of the portfolio : Obi-wan forms an aggressive growth portfolio by investing 20% of his savings in GM stock, 21% in Nissan stock, 21% in Kia stock, 11% in an index fund
How you define the financial shock : How you define the "Financial Shock" and describe one from recent history and how it affects the impact on people's finances after a shock

Reviews

Write a Review

Financial Accounting Questions & Answers

  Make issuance of the bonds on june and the payment

Make issuance of the bonds on June 30, 2016 and the payment of interest at December 31, 2016 and semi-annual interest payment on June 30 2017.

  Weighted average cost of capital

Standex Products has estimated that its after-tax cost of debt is 6% and its cost of common equity is 16%. Standex expects to continue a policy of borrowing.

  What is the break-even sales if costs fixed

fixed costs are $250,000, the unit selling price is $20, and the unit variable costs are $16, what is the break-even sales (units) if fixed costs are reduced by $40,000?

  Discuss the different types of financial information

Discuss the different types of financial information that are relevant for investors. List the most common sources of information within each type.

  The price of money

If the price of money (e.g., interest rates and equity capital costs) increases due to an increase in anticipated inflation, the risk-free rate will also increase. If there is no change in investors' risk aversion, then the market risk premium (rM - ..

  Howell company has the following selected accounts after

howell company has the following selected accounts after posting adjusting entriesaccounts payable 45000notes payable

  Total electricity cost is comprised of a basic fixed cost

the total electricity cost is comprised of a basic fixed cost mad above that there is a variable expense component for the electricity

  Compute cholati branch profi ts tax

Compute Cholati’s branch profi ts tax, and determine its branch interest withholding tax obligations. Assume that Cholati does not reside in a treaty country.

  Selecting the appropriate revenue or gain classification

Caring Community Hospital, a not-for-profit hospital, recorded the following transactions. For each of the transactions, indicate which revenue classification would be affected by selecting the appropriate revenue or gain classification from the list..

  Comparative forms of doing business-discuss pros and cons

Conducting their business as a C corporation, an S corporation, or an LLC would meet Bill and George’s objectives of having limited liability. From a tax perspective, both the S corporations and the LLC would allow the losses in the early years to be..

  How do you think fasb feels about timing manipulations

How do you think FASB feels about timing manipulations for the purpose of hitting projection goals? Would you require disclosure of these shifting practices in the quarterly financial report? Why or why not?

  Classify and give reasons for the cash flows falling

The Company has profit before taxes. Classify and give reasons for the cash flows falling under the operating activities and under the investing activities.

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