Journal entries to adjust for possible uncollectible account

Assignment Help Accounting Basics

Reference no: EM13964527

The accounts of Stackhouse Company as of 2010 December 31, show Accounts Receivable, USD 190,000; Allowance for Uncollectible Accounts, USD 950 (credit balance); Sales, USD 920,000; and Sales Returns and Allowances, USD 12,000. Prepare journal entries to adjust for possible uncollectible accounts under each of the following assumptions:

Reference no: EM13964527

Questions Cloud

How much energy must be removed at the cooling coil : How much energy must be supplied by the reheaters.

Describe your initial reaction to finding out your top five : Describe the primary functions of management (planning, organizing, leading, controlling) and the associated skills, tools, and theoretical approaches that can be used to accomplish these functions.

Restaurants with a score point : The New York City Health Department rates restaurants as follows: Public health hazards are 7 points, critical violations are 5 points, and general violations are 2 points. If a restaurant is cited for 1 public health hazard, 2 critical violations, a..

Calculate the amount of free hcl : We performed a titration in the lab with mock gastric juice and potassium hydroxide. We titrated to end point and then to another colour change and noted both the volumes. We are now being asked to calculate the amount of free HCl, total acidity a..

Journal entries to adjust for possible uncollectible account : Allowance for Uncollectible Accounts, USD 950 (credit balance); Sales, USD 920,000; and Sales Returns and Allowances, USD 12,000. Prepare journal entries to adjust for possible uncollectible accounts under each of the following assumptions:

Chain in inventory holding costs as result of centralization : Home Depot sells the LawnBoy T650 lawn mowers at 64 stores in the Western US. Weekly demand for the T650 at each of the stores is identical and given by: X ~ Normal (60, 40). How much safety stock is required at each store? If the cost of each mower..

Structure for the isomeric carbocation intermediate : The naturally occurring molecule a-terpineol is biosynthesized by a route that includes the following step: Propose a likely structure for the isomeric carbocation intermediate.

Flowchart-add some improvements-automation : #1. Flowchart the process as it is written. Use ‘swimming lanes' by functional area if desired. Think about what starts the process, what ‘documents' are used for input/outputs. etc. #2. Now look at the flowchart and add some improvements: Automat..

Safety inventory of cell phones should best buy carry : Weekly demand for a Motorola cell phone at a Best Buy store is normally distributed, with a mean of 200 and standard deviation of 150. Best Buy has a policy of ordering the cell phones in lots of 500. Motorola takes two weeks to deliver an order. How..

User Account

All Pages