User Account

All Pages

What dollar amount should be credited to allowance

Assignment Help Accounting Basics
Reference no: EM132700460

Question - Arundel Company uses percentage of sales to estimate uncollectibles.  At the end of the fiscal year, December 31, 2018, Accounts Receivable has a balance of $78,000 and had a total of $755,000 in credit sales. Arundel assumes that 1.0% of sales will eventually be uncollectible. before adjustment, the Allowance for Uncollectible Accounts had a credit balance of 5,500. What dollar amount should be credited to Allowance for Uncollectible Accounts at year end?

Reference no: EM132700460

Questions Cloud

Political parties and the electoral process : Identify three to four ideological differences between America's two major political parties.
Outline the amendments required to the financial report : You are the auditor of BUPA Limited, outline the amendments, if any, required to the financial report and provide the reasons for the required action.
Research and critically analyse a cover story : Research and critically analyse a cover story of The Harvard Business Review - Please read cover stories featured in the last four issues of The Harvard
Which investment properties are measured at cost : Under this model, which investment properties are measured at cost less accumulated depreciation and accumulated impairment losses.
What dollar amount should be credited to allowance : The Allowance for Uncollectible Accounts had credit balance of 5,500. What dollar amount should be credited to Allowance for Uncollectible Accounts at year end
Which of statements is correct regarding investment property : Which of statements is correct regarding investment property? An entity may classify assets other than land and/or building as investment property.
Which of measurement bases is acceptable for subsequent : Which of the measurement bases is acceptable for the subsequent measurement of an investment property held by a government entity?
Compute the amount of interest costs capitalized each year : Amounts borrowed and outstanding: $1.7 million borrowed at 10%, specifically for the project. Compute the amount of interest costs capitalized each year
Which of the assets may be classified as investment property : Which of the assets may be classified as investment property? Land held for long-term capital appreciation. / Intangible asset held for lease

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