User Account

All Pages

What amount should thomas record as bad debt expense

Assignment Help Accounting Basics
Reference no: EM131787099

Question - The following information is available for Thomas Company:

Credit sales during 2010 $50,000

Allowance for Doubtful Account, Dec. 31, 2009 $ 1,800

Accounts receivable written of during 2010 $ 1,900

As a result of a review and aging of accounts receivable, it has been determined that the Allowance for Doubtful Accounts should show a balance of $2,100 at December 31,2010. What amount should Thomas record as bad debt expense for the year ended December 31, 2010?

a. $2,200

b. $1,900

c. $2,100

d. $2,000

Reference no: EM131787099

Questions Cloud

Why is alignment important : Why is alignment important? How can the project manager ensure alignment, and what can go wrong if alignment is not established?
What is the stock risk premium : Based on the CAPM, the required rate of return on a stock is 12%, the stock is 20 percent more risky than a well-diversified market por olio.
Which political affiliation has the most women : What political affiliation has the second largest number of women? Is this easier to determine with the bar chart or with the pie chart? Explain.
Discuss lamps-a bedford lamp and a lowell lamp : Clay Corporation manufactures two styles of lamps-a Bedford Lamp and a Lowell Lamp
What amount should thomas record as bad debt expense : As a result of a review and aging of accounts receivable, What amount should Thomas record as bad debt expense for the year ended December 31, 2010
Performance as measured by the information ratio : The most important factor we consider in retention decisions is performance as measured by the information ratio." Comment on this statement.
Will we see changes in regulation and foreign competition : what changes we can expect in Advertising over the next decade. Will we see changes in regulation and foreign competition
Comment on the effect this might have on social security : Which age groups are predicted to become larger, which are predicted to become smaller, and which are predicted to stay roughly the same?
Futures contract and a forward contract : Explain the differences between a futures contract and a forward contract.

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