The adjusted balances of accounts receivable

Assignment Help Accounting Basics
Reference no: EM131125387

At the end of the current year, Accounts Receivable has a balance of $750,000; Allowance for Doubtful Accounts has a credit balance of $11,250; and net sales for the year total $4,100,000. Bad debt expense is estimated at 1/2 of 1% of net sales.

Determine 

(1) The amount of the adjusting entry for uncollectible accounts; 

(2) The adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense; and 

(3) The net realizable value of accounts receivable. 

Reference no: EM131125387

Questions Cloud

What is the equivalent cash payment of this annuity : what is the equivalent cash payment (present value) of this annuity?
Will she need to plead adultery in her complaint : Louisa wants a divorce and comes to consult with you about her options. She has the following questions: Will she need to plead adultery in her Complaint? Will she be able to obtain alimony or spousal support from Jacques
Calculate bio systems equity value at the end of 2013 : Fuji Electronics has examined other recent acquisitions in BioSystems' industry and believes that a 17 times price-earnings multiple would be appropriate for valuing BioSystems. Calculate BioSystems' equity value at the end of 2013.
Succeed on the basis ofthe preemption doctrine : A pilot's constitutional challenge to this state statute is most likely succeed on the basis ofthe preemption doctrine. Under thisdoctrine of preemption, which is based on theSupremacy Clause,federal lawpreempts state law, even when the laws conf..
The adjusted balances of accounts receivable : The adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense; and
Discuss the four categories of computer crimes : Discuss the four categories of computer crimes - computer as a target, computer as an instrument of the crime and computer as incidental to crime
The net realizable value of accounts receivable : The adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense; and
Discuss two trends of increased cybervictimization : Discuss two trends of increased cybervictimization which are increased use of computers and increased availability of technical information on viruses/hacking
Explain the restorative justice process : Write a 700- to 1,050-word paper about restorative justice. Include the following in your paper: Explain the restorative justice process. Identify how the crime in the case study had effects that went beyond harm to the immediate victim

Reviews

Write a Review

Accounting Basics Questions & Answers

  On january 1 2011 nana company paid 100000 for 8100 shares

on january 1 2011 nana company paid 100000 for 8100 shares of papa company common stock. these securities were

  A new project will require development costs of 60 million

a new project will require development costs of 60 million at time zero and 100 million at the end of 2 years from time

  Annual cost of using reliable components

a. What is the annual cost of using Reliable components as a supplier? b. What is the annual cost of using Value Electric as supplier?

  Determining gross margin for the year

Given the above information, determine Rupina's gross margin for the year. Note that since this was the company's first year of operations, beginning inventory was zero.

  Pacific products inc completed and transferred 150000

pacific products inc. completed and transferred 150000 particle board units of production from the pressing department.

  A class has 80 students test 2 had a class average of 78

a class has 80 students. test 2 had a class average of 78 and a variance of 49. answer the following 7 questions.

  Gary and gerdy gray purchased a home for 125000 on

gary and gerdy gray purchased a home for 125000 on september 15 2010. on october 7 2011 they were divorced and as part

  Preparing annual income tax return for carlito alverez

Sonya Fuentez, an IRS-enrolled agent, is preparing an annual income tax return for Carlito Alverez. Sonya is a little apprehensive about the engagement because she's heard rumor that Alverez is a major drug trafficker with roots in Colombia.

  Salad daze maintains an inventory of produce worth 390 its

salad daze maintains an inventory of produce worth 390. its total bill for produce over the course of the year was

  Prepare mountain cycles perpetual inventory record assuming

mountain cycles started august with 12 bicycles that cost 42 each. on august 16 mountain bought 40 bicycles at 68 each.

  How is it used in a computerized accounting system

What is an electronic form, and how is it used in a computerized accounting system?

  Question regarding value of common stock

A firm has experienced a constant annual rate of dividend growth of 9 percent on its common stock and expects the dividend per share in the coming year to be $2.70.

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