What is the balance of allowance for uncollectible accounts

Assignment Help Financial Accounting
Reference no: EM13511991

At the end of the year, Email Enterprises estimates the uncollectible accounts expense to be 0.8 percent of net sales of $7,575,000. The current credit balance of Allowance for Uncollectible Accounts is $12,900. Prepare the entry to record the uncollectible accounts expense. What is the balance of Allowance for Uncollectible Accounts after this adjustment?

Reference no: EM13511991

Questions Cloud

What is the amount collected by meier on april 25 : On April 15, Meier Company sold merchandise to Curran Company for $5,000 on terms of 2/10, n/30, Assume a return of merchandise on April 20 of $850 and collection in full on April 25. What is the amount collected by Meier on April 25?
What was the amount of best buy : For the year ended February 28, 2009, Best Buy reported revenue of $45,015 million. Its gross profit was $10,998 million. What was the amount of Best Buy's cost of merchandise sold?
Symbolic interactionism explains race-prejudice : the paper should be about a sociological topic e.g Race, Religion, class ... and does it deal with macro level forces such as economic, political, or social structure, or micro level interactions like family and individuals.
Six steps to the decision making process : Six steps to the decision making process
What is the balance of allowance for uncollectible accounts : Prepare the entry to record the uncollectible accounts expense. What is the balance of Allowance for Uncollectible Accounts after this adjustment?
What is the amount of the gross profit : During the current year, merchandise is sold for $275,000 cash and $990,000 on account. The cost of the merchandise sold is $950,000. What is the amount of the gross profit?
Calculate the amount of cash and cash equivalents : Calculate the amount of cash and cash equivalents that will be shown on the company's year-end balance sheet.
What amount will be debited to merchandise inventory account : Ball Co. purchased inventory with a list price of $4,000 with the terms 2/10, n/30. What amount will be debited to the Merchandise Inventory account?
The saturated solution of magnesium hydroxide in equilibrium : A saturated solution of magnesium hydroxide in equilibrium with undissolved solid is prepared at 25 degree celcius. The pH of the solution is 11.03. Calculate the value of the Ksp

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

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