What will be the dollar balances in the allowance

Assignment Help Accounting Basics
Reference no: EM132282209

Question - Baltimore Company uses aging to estimate uncollectible. At the end of the fiscal year, December 31, 2018, Accounts Receivable has a balance that consists of:

Dollar Value Age of Account Estimated Collectible

$140,000 < 30 days old 98%

60,000 30 to 60 days old 89%
40,000 61 to 120 days old 75%

8,000 >120 days old 17%

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? Round to nearest whole dollar.

Reference no: EM132282209

Questions Cloud

Develop sampling structures-probability and nonprobability : Using your research problem and the refined question you developed in Week 4, develop two sampling structures: probability and nonprobability.
How much is the gross profit margin : Given below are account balances for Charlie Company: Sales returns and allowances, $6,000. How much is the gross profit margin
Is the idea of learning styles supported by research : Visual (V) - This preference includes the depiction of information in maps, spider diagrams, charts, graphs, flow charts, labelled diagrams, and all the symbol
Describe the sampling methods in your own words : Describe the generalizability or the transferability of the research finding based on the sampling method.
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
Do you think you would have acted any differently : If you were a part of the Stanford Prison Experiment, do you think you would have acted any differently from the other volunteers? Why/why not?
By how much net income be higher or lower : Depreciation on the equipment is $15,600 per year. If the adjusting entries were not recorded, would net income be higher or lower and by how much
Analyze one form of communication used by the family : Analyze one form of communication used by this family and how this communication style influences family dynamics. Describe the specific roles of two family.
Sketch the lr and sr atc curves for a single firm : Sketch the LR and SR ATC curves for a single firm. Explain the relationship between SR and LR ATC curves.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Assume that 1400 million of the cost of goods sold is a

gross margin and contribution margin eastman kodak company is a provider of imaging technology products and services to

  The simple rate of return method explicitly takes

true of false questions1. the simple rate of return method explicitly takes depreciation into account.2. the payback

  Keillor companys inventory of 1100000 at december 31 2010

keillor companys inventory of 1100000 at december 31 2010 was based on a physical count of goods priced at cost and

  Classify each of the costs as a capital expenditure or a

hometown delivery co. incurred the following costs related to trucks and vans used in operating its delivery service

  Selected information from a finanacial statement for

selected information from a finanacial statement for twoyears. compute the percentage change from 2006 to 2007

  Best process flow structure to use for making automobiles

The type of processing structure that is used for producing discrete products at a controlled rate is

  Corey and addison are engaged and plan to get married

Corey and Addison are engaged and plan to get married. During 2009, Corey, is a full-time student and earns $8,000 from a part-time job. With this income,

  What agi would jack report under the given circumstances

Suppose that Jack also reported income of $13,100 from a half share of profits from a partnership. Disregard any potential self-employment taxes on this income.

  Operating activities section regarding the event

A corporation uses the indirect method for preparing the statement of cash flows. A fixed asset has been sold for $23,515 representing a gain of $3,016.

  What are the markup percentages for total variable costs

If management desires a 12 percent rate of return on total assets, what are the markup percentages for total variable costs

  Speed world cycles sells high-performance motorcycles and

speed world cycles sells high-performance motorcycles and motocross racers. one of speed worlds most popular models is

  What is furyk variable cost ratio

Furyk Company runs a driving range and golf shop. What is Furyk's variable cost ratio? Its contribution margin ratio

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