Solution-Prepare year-end adjusting entry for uncollectibles

Prepare year-end adjusting entry for uncollectibles

Reference no: EM13537773

Wecker Company's year-end unadjusted trial balance shows accounts receivable of $89,000, allowance for doubtful accounts of $500 (credit), and sales of $270,000. Uncollectibles are estimated to be 1.5% of accounts receivable.

1. Prepare the December 31 year-end adjusting entry for uncollectibles.

2. What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit balance of $200?

Reference no: EM13537773

Questions Cloud

Calculate what is the strength of the magnetic field : If the field is directed perpendicular to the plane of the loop and the magnetic flux through the loop is 7.60 10-3 T · m2, what is the strength of the magnetic field

Compute the molar solubility of lead thiocyanate : Calculate the molar solubility of lead thiocyanate in pure water. The molar solubility is the maximum amount of lead thiocyanate the solution can hold. Lead thiocyanate, Pb(SCN)2, has a Kp value of 2.00*10^-5.

Compute the accounts receivable turnover for research : Compute the accounts receivable turnover for Research In Motion and Apple for each of the two most recent years using the data shown.

Describe the potential of the corrosion reaction : Air is 21 mole percent oxygen, that is, 0.21 atm oxygen at 1 atm. Suppose the pH of the water is 5.91 and that the concentration of iron(II) in the water is 3.29x 10-5 M, what is the potential of the corrosion reaction under the above conditions a..

Prepare year-end adjusting entry for uncollectibles : What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit balance of $200?

Find her new rotational velocity : A student sitting on a frictionless rotating stool has rotational inertia 0.97 kg*m2 about a vertical axis through her center of mass when her arms are tight to her chest. what's her new rotational velocity

Define the electrochemical processes that occur in the rate : The electrochemical processes that occur in the rate limiting step of the corrosion of iron (oxidation of iron) are represented by the half-reactions

Prepare jlks journal entry for august : Compute the maturity date for note - Prepare JLKs journal entry for August 2

Explain the solubility of m(oh)2 in pure water : The generic metal hydroxide M(OH)2 has Ksp = 3.85×10-18. What is the solubility of M(OH)2 in pure water

User Account

All Pages

Prepare year-end adjusting entry for uncollectibles

Reference no: EM13537773

Reference no: EM13537773

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

What was the total cost transferred out

Is it a necessary and sufficient condition for leadership

Compute the ratios at december 31

What is the direct labor cost for june

Compute the budgeted cash payment for purchases

Shown below are a few events and transactions of kash

Should gruden accept the special order

Elements of critical thinking

Prepare a statement of cash flows for ethos consulting

Evaluate the cut off score for gaining admission

On june 10 easy repair service extended an offer of 95000

What is the purpose of preparing a schedule of cost

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT