User Account

All Pages

What amount should jamin report as allowance

Assignment Help Accounting Basics
Reference no: EM132804234

Question 1: At January 1, 2020, Jamin Co. had a credit balance of P260,000 in its allowance for uncollectible accounts. Based on past experience, 2% of Jamin's credit sales have been uncollectible. During 2020 Jamin wrote off P325,000 of uncollectible accounts. Credit sales for 2020 were P9,000,000. In its December 31, 2020 balance sheet, what amount should Jamin report as allowance for uncollectible accounts?

Reference no: EM132804234

Questions Cloud

Compute the amount of discount on bonds : Compute the periodic/ annual interest to be paid/ collected on the bonds payable/investment. Compute the amount of discount on bonds under case 1
What correct balance of trade account receivable on december : What correct balance of trade accounts receivable on December 31, 2020 is? On December 31, 2020, the accounts receivable control account
How does mary fisher audience shape the choices : How does Mary Fisher's audience shape the choices she makes in this speech? Consider the make-up of the audience in terms of their demographic characteristics.
What allowance for uncollectible accounts should have credit : What the allowance for uncollectible accounts should have a credit balance of? Roxy estimates that 3% of the gross accounts receivable will become uncollectible
What amount should jamin report as allowance : Credit sales for 2020 were P9,000,000. In its December 31, 2020 balance sheet, what amount should Jamin report as allowance for uncollectible accounts?
What amount should delta report of allowance for discounts : Delta, Inc. sells to wholesalers on terms of 2/15, net 30. In its December 31, 2020 balance sheet, what amount should Delta report of allowance for discounts?
What is the project total nominal cash flow : All corporate cash flows are subject to a 34 percent tax rate. What is the project's total nominal cash flow from assets for each year
Define the composed tasks to build the product : Select a simple production chop to build any product. Define the composed tasks to build this product. Define the task variables and provide precedence.
Estimate the probability that in a random sample : Estimate the probability that in a random sample of 25 students' more than 275 instant meals are consumed

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