User Account

All Pages

What the dollar balances in Allowance for Doubtful Accounts

Assignment Help Accounting Basics
Reference no: EM132472781

Problem - A Company uses aging to estimate uncollectibles. At the end of the fiscal year, Accounts Receivable has a balance that consists of:

Dollar Value

Age of Account

Estimated Collectible

$195,000

< 30 days old

99%

70,000

30 to 60 days old

94%

40,000

61 to 120 days old

78%

14,000

> 120 days old

12%

Required - The current unadjusted Allowance for Uncollectible Accounts balance is a debit balance of $2,000 and the Bad Debt Expense accounts has an unadjusted balance of zero. After the adjusting entry is made, what will be the dollar balances in the Allowance for Doubtful Accounts?

Reference no: EM132472781

Questions Cloud

What would be the amount related to the bonds : What would be the amount(s) related to the bonds that Pujols would report in its statement of cash flows for the year ended October 31, 2013
What will be the dollar balances in the Allowance : After the adjusting entry is made, what will be the dollar balances in the Allowance for Doubtful Accounts? Round to nearest whole dollar
What is the amount that cooper enterprises should report : What is the amount that Cooper Enterprises should report as its pension liability on its balance sheet as of December 31, 2015?
How much would save by holding the stock : If Helen's marginal tax rate is 35 percent, Determine how much would she save by holding the stock an additional month before selling?
What the dollar balances in Allowance for Doubtful Accounts : A Company uses aging to estimate uncollectibles. After the adjusting entry is made, what will be the dollar balances in the Allowance for Doubtful Accounts
How much money would strategy save : How much money would strategy save? What salary would she have to pay him to generate $9,000 after taxes (ignoring any Social Security, Medicare)
What salary would have to pay to generate after taxes : If Jonathon worked for his mother's sole proprietorship, what salary would she have to pay him to generate $9,000 after taxes
Compute the amount of fund ms bragg needs to borrow for june : Compute the amount of funds Ms. Bragg needs to borrow for June. The balance in the cash account as of May 31 is $50.000. Budgeted sales for June are $310.000.
Determine the dollar value of cost of goods sold : Required - Sales were 430 units at $20. Using the FIFO method, determine the dollar value of Cost of Goods Sold for the month of May

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