User Account

All Pages

What is the balance after adjustment

Assignment Help Financial Accounting
Reference no: EM132959834

Problem 1: Net credit sales for the month are $680000. The accounts receivable balance is $190000. The allowance is calculated as 5% of the receivables balance using the percentage-of-receivables basis. If the Allowance for Doubtful Accounts has a credit balance of $8000 before adjustment, what is the balance after adjustment?

Reference no: EM132959834

Questions Cloud

What differences you expect between Tesla and a grocer : What differences would you expect between Tesla and a grocery store? Consider the DuPont equation, profit margin measures, and turnover ratios
How much term insurance can buy for the same premium : Your aunt Christina is 34. How much term insurance can she buy for the same premium and what other factors should she consider before the switch?
Which of the best describes the application of firpta : Which of the best describes the application of FIRPTA? Norma, a nonresident alien, owns a winter house in Florida. Norma sells the home for $250,000
Which forco may repatriate money from the united states : Describes the various methods by which FORco may repatriate money from the United States? FORco, a foreign corporation, owns a profitable subsidiary.
What is the balance after adjustment : If the Allowance for Doubtful Accounts has a credit balance of $8000 before adjustment, what is the balance after adjustment?
How many capital projects funds does the government maintain : How many capital projects funds does the government maintain? How can you tell? Are any of these major funds? If so, for what purposes are they maintained.
What adjustment to record bad debts for period will require : If Allowance for Doubtful Accounts has a $3700 credit balance, the adjustment to record bad debts for the period will require a
Design a plan to restructure the department : Read the case study and answer the following questions:
How is the sum of the year digits method derived : How is the sum of the year's digits method derived? Explain the difference between the straight-line method of depreciation and accelerated depreciation.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Produce a detailed cash budget that summarizes cash inflow

Evaluate historical data and prepare assumptions that will drive the planning process and produce a detailed cash budget that summarizes cash inflow, outflow, and financing needs.

  Rate return as discount rate when making capital decisions

A vacant piece of land next to Ghalid Company's headquarters has become available and the company is considering purchasing the land as an investment. How much, per year, would Ghalid have to charge the farmer to make this an acceptable investment (f..

  Compute the ending inventory and cost of goods sold

Compute the ending inventory and cost of goods sold assuming Wonderful Pet Creations uses average cost and a periodic inventory system

  Business entities partnerships and corporations

Assume your company is invplved in a major lawsuitand the probable damages are estimated to be 2,000,000. Describe the effects of the damage estimates would have on the financial statements of the corporation and a partnership. How do disclosure requ..

  What is the weighted average number of shares outstanding

The company issued 720,000 ordinary shares on Sep 1, 2020. What is the weighted average number of shares outstanding in 2020

  What amount of income would be necessary

Baekhyun is trying to decide whether to accept a salary, What amount of income would be necessary so that Baekhyun would consider the choices to be equal?

  Based costing system for its overhead costs

Maillard Painting paints the interiors and exteriors of homes and commercial buildings. The company uses an activity-based costing system for its overhead costs. The company has provided the following data concerning its activity-based costing system..

  Determine the sales-volume variance

In tabular format, recreate the master budget and prepare the flexible budget and determine the sales-volume variance, sales price variance, and the total fixed cost variance.

  Income statement and balance sheet based

General and Admin $350 Please prepare Paul's Income Statement and Balance sheet based upon this information. HINT: Adjustments to Retained Earnings will have to be made

  Fill out a correct statement of comprehensive income

Teach me and explain how to fill out a correct statement of comprehensive income, beginning with income before income taxes.

  What does amount reported for cost of goods sold represent

Explain why or why not. Research computer systems methods you can use to record your transactions and create your financial statements and how can you tell? Does your company use accrual-based or cash-based accounting? How can you tell?

  What is the controlling interest

What is the controlling interest in the 20X2 income of the subsidiary if all the above intra-entity transfers are downstream sales and parent uses equity method

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