Vandross company has recorded bad debt expense in the pat

Assignment Help Accounting Basics
Reference no: EM13587729

Vandross Company has recorded bad debt expense in the pat at a rate of 1.5% of net sales. in 2014, Vandross decides to increase its estimate to 2%. If the new rate had been used in prior years, cumulative bad debt expense would have been $400,580 instead of $296,250. In 2014, bad debt expense will be $140,180 instead of $92,220. If Vandross's tax rate is 25%, what amount should it report as the cumulative effect of changing the estimated bad debt rate?

Reference no: EM13587729

Questions Cloud

Shawns garden was started on may 1 with an investment of : shawns garden was started on may 1 with an investment of 45000 cash. following are the assets liabilities and common
A solid uniform sphere of mass 20 kg and radius 17m rolls : a solid uniform sphere of mass 2.0 kg and radius 1.7m rolls without slipping down an inclined plane of height 6.7 m.
What is the average dollar value of inventory based upon : the president of the wholesale distributor has recently heard about the eoq model and is interested in learning whether
Prepare appropriate entries for manufacturers southern from : manufacturers southern leased high-tech electronic equipment from edison leasing on january 1 2013. edison purchased
Vandross company has recorded bad debt expense in the pat : vandross company has recorded bad debt expense in the pat at a rate of 1.5 of net sales. in 2014 vandross decides to
Margo receives a gift of real estate with an adjusted basis : margo receives a gift of real estate with an adjusted basis of 175000.00 and a fair market value of 100000.00. the
Assume eddie zambrano corp restricted retained earnings in : assume eddie zambrano corp. restricted retained earnings in the amount of 70000 on december 31 2014. after this action
Felicia amp freds executive board has asked you to change : felicia amp freds executive board has asked you to change the decision model previously completed to reflect the
What is the average number of units in inventory based upon : a wholesale distributor stocks and sells low flow toilets to contractors for use in commercial office buildings. the

Reviews

Write a Review

Accounting Basics Questions & Answers

  What are the financial techniques used to evaluate capital

what are the financial techniques used to evaluate capital projects in an organization? with respect to the

  Prepare journal entries for ownership

Prepare the journal entries that Kramer Corporation should record for these transactions and events. Please show me the calculations.

  Explain the objectives and characteristics of an internal

you are the manager of an accounting department and would like to hire another managerial accountant to focus on

  Evaluate the month lease option

Evaluate the 24 month and 36 month lease option and make a recommendation on which is the best option for AMG.

  Journalize the adjusting entrees to be made by baumgarder

baumgardner companys bank statement from last national bank at august 31 2010 shows the following information.balance

  Total amount on goodwill

The non controlling intrest shares of Float Corp. are not actively traded. What is the total amount on goodwill recognized at the date of acquisition?

  Value of the minimum lease payments under a lease

If a company is determining the present value of the minimum lease payments under a lease, what interest rate should be used as the discount rate using IFRS?

  What is the receivables turnover ratio for nelson

The financial statements of the Nelson Manufacturing Company reports net sales of $500,000 and accounts receivable of $50,000 and $30,000 at the beginning of the year and end of year, respectively. What is the receivables turnover ratio for Nelson..

  Suppose the firm is operating in a high-wage country where

a firm can use three different production technologies with capital and labor requirements at each level of out as

  Based on the fama-french model calculate the required

the estimated factor sensitivities of terranova energy to fama-french factors and the risk premia associated with those

  If kasper produces a single product and sells it at 200

if kasper produces a single product and sells it at 200 per unit. he variable cost of the product is 120 per unit an

  Compute the break-even point

Compute the break-even point

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