User Account

All Pages

How much should ABC Company report in its December

Assignment Help Accounting Basics
Reference no: EM132567783

Question - At the end of its first year of operations, December 31, 2017, ABC Company had accounts receivable of P500,000, which were net of related allowance for doubtful accounts. During 2017, ABC recorded charges to bad debt expense of P80,000 and wrote off uncollectible accounts receivable of P20,000. How much should ABC Company report in its December 31, 2017 balance sheet as accounts receivable before the allowance for doubtful accounts?

a. P600,000

b. P560,000

c. P520, 000

d. P500,000

e. Answer not given

Reference no: EM132567783

Questions Cloud

What is cash balance per ledger on July : A P10,000 July deposit from a credit customer was recorded as P10,000 debit Cash and credit Accounts receivable. What is cash balance per ledger on July
Explain the concept external and internal auditing : What this can do is take the worry of external compliance problems and legal obligations from you and put it in the hands of your industry
Risk in the transportation security profession : Discuss why risk management is important and what area you would consider a risk in the transportation security profession.
Prepare journal entries to record the preceding transactions : Prepare journal entries to record the preceding transactions and events. (The company uses the perpetual inventory system.) (If no entry is required)
How much should ABC Company report in its December : How much should ABC Company report in its December 31, 2017 balance sheet as accounts receivable before the allowance for doubtful accounts
What are the appellate courts called : What are the courts of limited jurisdiction in your jurisdiction called? What are the appellate courts called? What are the trial courts called?
Perform a specific task in its new line of cars : These cars will be equipped with a "headlight left on" alarm that sounds any time these two conditions are met: headlights on and ignition switch off.
Prepare a table to allocate the lump-sum purchase price : Compute the depreciation expense for year 2017 on the building using the straight-line method, assuming a 15-year life and a $31,000 salvage value.
Density of dark energy contributes to the total : What is the percentage that the density of dark energy contributes to the total?

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