Reference no: EM131262876
Your company prepares financial statements only once a year. In accounting for uncollectible accounts it uses the allowance method.
For the most recent year give general journal entries for the following.
Beginning of the year balances:(No journal entries needed for beg. Balances)
Accounts Receivable 256,200
Allowance for uncollectible accounts 6,250
Uncollectible Accounts Expense -
1. Sales for the year were 1,585,000. 70% of sales are credit sales
2. Collection on credit sales for the year were 1,070,000
3. Wrote off 10500 of specific customer accounts
4a. At year end estimate uncollectible accts to be 1.75% of credit sales
4b. Instead of 4a, the company ages it receivables and estimated 7500 as uncollectible
SHOW ALL WORK - Use Excel
|
Compute the net income to be earned under each alternative
: Barnes Company reports the following operating results for the month of August: sales $315,000 (units 5,000); variable costs $225,000; and fixed costs $71,100. Management is considering the following independent courses of action to increase net inco..
|
|
The desired sample depends on all of these factors
: The desired sample depends on all of these factors except?
|
|
Should you have any issues which involve green ict
: What are some of the issues you will have to think about as you design and implement your software to support your client and their students?
|
|
What are organizational culture factors
: What are the drivers behind agile adoption and the challenges faced during adoption and what are organizational culture factors that correlate with the effective adoption of the Agile method and what are the challenges that inhibit adoption?
|
|
Uncollectible accounts expense
: Your company prepares financial statements only once a year. In accounting for uncollectible accounts it uses the allowance method. Uncollectible Accounts Expense. Sales for the year were 1,585,000. 70% of sales are credit sales.
|
|
Healthcare professionals and facilities
: Does your community have the required medical resources to handle the patient's problem? How would the patient's care be handled in your community? Identify the nearest hospital to the area you have chosen that treats the problem. Trace the patien..
|
|
Find he new steady-state discharge and the time
: Assuming an incompressible fluid and an inelastic piping system, determine the new steady-state discharge and the time it takes to reach 95% of that value. Assume that f = 0.015.
|
|
Stakeholders are in the us health care system
: This module looks at who the stakeholders are in the U.S. health care system and how and why their wants and needs vary. This module also explores the incentives and disincentives to lower costs and improve quality of care in the US, and it illust..
|
|
Early start of an activity on a pert chart
: What impact would there be on BCWS, BCWP, ACWP, and cost and schedule variances as a result of the:- Early start of an activity on a PERT chart? - Late start of an activity on a PERT chart?
|