What should company report on its balance sheet at december

Assignment Help Financial Accounting

Reference no: EM13140626

At the close of its first year of operations, December 31, 2010, Ming Company had accounts receivable of $540,000, after deducting the related allowance for doubtful accounts. During 2010, the company had charges to bad debt expense of $90,000 and wrote off, as uncollectible, accounts receivable of $40,000. What should the company report on its balance sheet at December 31, 2010, as accounts receivable before the allowance for doubtful accounts?

Reference no: EM13140626

Questions Cloud

Reason-sampling distribution-mean follow normal distribution : Discuss the reason that sampling distribution of the mean follow a normal distribution for a large enough sample size, even though the population may not be normally distributed?

What will new breakeven point be in units : If the selling price is increased to $14 per unit and fixed general and administrative expenses are cut by $33,465, what will the new breakeven point be in units?

Taxable income of the two owners : Pam owns a sole proprietorship and Kevin is the sole shareholder of a C (regular) corporation. Each business sustained a $16,000 operating loss and a $2,500 capital loss for the year. Evaluate how these losses will affect the taxable income of the..

Harvard referencing style : In-text citation and references (or sources) using the Harvard referencing style are required for this section This section is based on the case study, Overstock.com on p. 137 in your textbook.

What should company report on its balance sheet at december : What should company report on its balance sheet at December 31, 2010, as accounts receivable before the allowance for doubtful accounts?

Define a three-phase overhead transmission line : A three-phase overhead transmission line has a per-phase resistance of 0.15 ohm/km, and a per-phase inductance of 1.3263 mH/km.

What would be the expected effects : Tropical rainforests are already being destroyed at a very rapid rate. Imagine if this rate were further accelerated, for example, by highly exploitative, rapid land-clearing policies in the Amazon or SE Asia. What would be the expected effects of..

Computing dpad of maria corporation : The company also sells dinnerware that is purchased from unrelated foreign producers. During the tax year 2010, Maria had a U.S. profit of $1.2 million (QPAI) and a profit from the imported merchandise of $100,000. What is Maria's DPAD?

Determine amount of cash provided by or used for investing : The company also purchased treasury stock for $ 78,000 and sold a new issue of common stock for $ 523,000. Determine amount of cash provided by or used for investing activities for the year.

User Account

All Pages