User Account

All Pages

What is the carrying amount of accounts receivables

Assignment Help Financial Accounting
Reference no: EM132946066

Question - At the close of its first year of operations, December 31, 2019, MUJAR Company had accounts receivables of P4,000,000 after it had written off uncollectible accounts of P100,000 that it had charged to expense under the direct write off method. But before preparing its 2019 financial statements, MUJAR decided to use the allowance method and determined that the required allowance is P300,000. In a related matter, P30,000 of receivables written off were collected after the end of the reporting period. What is the carrying amount of accounts receivables on December 31, 2019?

Reference no: EM132946066

Questions Cloud

How much is the total loss on realization for jag : How much is the total loss on realization? Jag, Lee and Bench are partners having the following capital balances of P 11,200, P13,000 and P5,800 respectively.
Emerging challenges and avenues of csr : Emerging Challenges and Avenues of CSR during Covid 19 Pandemic. Why should companies do more CSR during the Covid 19 Pandemic
What is the total shareholders equity on december : Preference share capital, 100,000shares, P10 par - P1,000,000. Retained earnings - P100,000. What is the total shareholders' equity on December 31, 2020?
How much is the maximum amount of cash dividend : ST Corporation, The cash balance is P350,000. How much is the maximum amount of cash dividend that the corporation can declare and pay?
What is the carrying amount of accounts receivables : At the close of its first year of operations, What is the carrying amount of accounts receivables on December 31, 2019
Community services theory : Provide a definition of your chosen community services theoretical principle and Provide a strong overview of the chosen community services
What amount should gas report as dividend income : What amount should Gas report as dividend income in its statement of comprehensive income for the year 2019
How much cash can be distributed safely to each partner : How much cash can be distributed safely to each partner at this point? Lebron and Wade, partners who share profits and losses equally decided.
What is the book value per share of preference shares on dec : Corporate liquidation, shares are preferred as to assets up to par. What is the book value per share of the preference shares on December 31, 2019?

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!

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