User Account

All Pages

What amount of provision for doubtful accounts expense

Assignment Help Accounting Basics
Reference no: EM132940460

Question - The following information relates to Princess Company's accounts receivables for 2018: Accounts receivable, January 1, 2018 975,000 Allowance for doubtful accounts, January 1, 2018 30,000 Credit sales 4,000,000 Sales returns 110,000 Collection from customers 3,225,000 Accounts written off during 2018 10,000 Recovery of accounts during 2018 5,000 Estimated sales returns at December 31, 2018 75,000 Estimated sales discounts at December 31, 2018 25,000 1% of net credit sales is estimated to be uncollectible. What amount of provision for doubtful accounts expense be recognized for 2018?

Reference no: EM132940460

Questions Cloud

What is the revised npv : After the first year expected cash flows will be revised up to 21 units per year or down to 0 units with equal probability. What is the revised NPV
Building departments-job satisfaction : What are the ideal HR Department models for a business in the health industry that employ currently 35 employees but is growing?
What resources can michael bruno use to learn : What resources can Michael Bruno use to learn more about CEO salaries and Should Michael Bruno try to low-ball John Smithson
Calculate the break-even point of bano industries : Bano Industries, a small scale manufacturer of car parts in Fiji is engaged in the manufacture of electronic components for use in cars.
What amount of provision for doubtful accounts expense : Accounts receivable, January 1, 2018 975,000 Allowance for doubtful accounts, January 1, 2018 30,000. What amount of provision for doubtful accounts expense
What is the responsibility of the health care manager : -What is the responsibility of the health care manager regarding public health ethics and social responsibility? Provide an example.
What are the pros and cons of using an rjp : Should it be used for external candidates or internal candidates? Why?
Discuss the possible approaches to pay : Discuss the possible approaches to pay and compensation available to CMM Industries across their subsidiary countries
Explain role of sourcing in the staffing process : What is the role of Sourcing in the staffing process? What method/type of Sourcing do you believe is mosteffective? Why?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd