What was the total amount of bad debts expense

Assignment Help Cost Accounting
Reference no: EM13552779

On January 1, 2010, the balance in Kubera Co.'s Allowance for Bad Debts account was $9,720. During the year, a total of $23,900 of delinquent accounts receivable was written off as bad debts. The balance in the Allowance for Bad Debts account at December 31, 2010, was $10,480.

Required:

a. What was the total amount of bad debts expense recognized during the year?

b. As a result of a comprehensive analysis, it is determined that the December 31, 2010, balance of Allowance for Bad Debts should be $23,200. Show in the horizontal model or in journal entry format the adjustment required.

Reference no: EM13552779

Questions Cloud

Obtain the mass of the object : A spring is hung from a ceiling, and an object attached to its lower end stretches the spring by a distance d = 6.30 cm from its unstretched position, determine the mass of the object
Find basic earnings per share of common stock : Calculate basic earnings per share of common stock for the year ended January 31, 2011 and if Thrifty Co.'s preferred stock were convertible into common stock, what additional calculation would be required?
The special-interest lobbies : Does the Food and Drug Administration, or any other agency that regulates health, operate in the interest of the public, in the interest of the people who work there, or for the special-interest lobbies?
How many holes are required to break : Conduct a powder factor design for the following conditions: -Rock is iron ore; density is 5370 lb/cubic yards -Rock swells 60% from in situ when broken -Bench height is 45ft -Drill hole diameter is 12.25 inches
What was the total amount of bad debts expense : What was the total amount of bad debts expense recognized during the year and show in the horizontal model or in journal entry format the adjustment required.
The most significantly different from zero : The variables appears to be the most significantly different from zero?
Evaluate the magnetic field strength on the ground : Although the evidence is weak, there has been concern in recent years over possible health effects from the magnetic fields generated by transmission lines. Estimate the magnetic field strength on the ground
What is the diameter of a circular concrete column needed : What is the diameter of a circular concrete column needed to support a load of 300,000 pounds with a factor of safety of 2? Round the diameter up to the whole inch. The concrete ultimate strength is 3000 lb/in^2.
Prepare journal entries to record for sanchez company : Prepare journal entries to record each of the following transactions for Sanchez Company. Use the letter of the transaction in place of the date.

Reviews

Write a Review

Cost Accounting Questions & Answers

  Who are the potential stakeholders involved

Who are the potential stakeholders involved and what alternatives does Fred have in this situation? What might the company do to prevent this situation from occurring?

  Indirect method of preparing the operating portion

Short-term note receivable was received from a customer who had previously charged her purchase - individual amounts that should be added back to and subtracted from net income were summed into a single number, what would that total be?

  Journalize the entries in march

The fund was replenished on March 15 when the fund contained $3 in cash. On March 20, the amount in the fund was increased to $150 - Journalize the entries in March that pertain to the operation of the petty cash fund.

  Determine the portfolio beta and then apply the sml

Evaluate what return should she expect anticipate on her portfolio? Determine the portfolio beta and then apply the SML.

  Estimate annual overhead and direct labour costs

Estimated annual overhead and direct labour costs for 2013 are $150,000 and $200,000 respectively and estimated additional costs to be incurred to produce 10,000 units of ukulele Strings made from a special material $ 20,000

  Show the operating activities section of the statement

Prepare the operating activities section of the statement of cash flows for 2008 using the indirect method.

  Prepare contribution margin income statement

Prepare a gross margin income statement and a contribution margin income statement

  Curtis rich cost accountant for high power mower company

curtis rich cost accountant for high power mower company currently installed activity based costing at high power st

  Prepare a statement of cost of goods sold

Prepare a statement of cost of goods manufactured and prepare a statement of cost of goods sold.

  What was the average cost per unit

What was the average cost per unit for direct materials? What was the average cost per unit for factory depreciation - explain to the president any difference in the average costs per unit

  Global co had the subsequent at the end of the

global co had the subsequent at the end of the year-department a department b plant totaldirect material cost 338000

  Manufacturing overhead is applied to jobs using a pdr

Betty DeRose, Inc. uses job order costing. Manufacturing overhead is applied to jobs using a PDR of 140% of direct labor cost

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