User Account

All Pages

What will be the dollar balances in the allowance

Assignment Help Financial Accounting
Reference no: EM132796249

Question - Arundel Company uses aging to estimate uncollectibles.  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

$275,000 < 30 days old 98.0%

75,000 30 to 60 days old 92.0%

30,000 61 to 120 days old 76.0%

5,000 > 120 days old 15.0%

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: EM132796249

Questions Cloud

Current and obvious growth of apple and samsung : Nokia's market share was very high compared to Apple and Samsung. Looking at the market share now and the current and obvious growth of apple and Samsung.
What xyz receivables turnover ratio is : What XYZ's 2018 receivables turnover ratio is? XYZ company presented the following financial information for December 31, 2018 and 2017.
Describe the relationship between identity and the self : How does Sokefeld theorize the relationship between identity, culture, and the self? And, how does the idea of the culture as theorized by Sokefeld differ.
Why is power important to negotiators : 1. Why is power important to negotiators? 2. What are some methods in dealing with those that have more power in the negotiation?
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
Identify the types of meetings : Demonstrate your skills in preparing then Chairing two meetings. You will be observed by your Assessor in these meetings.
Describe two advantages of employee engagement : Describe two advantages of employee engagement and share an example of where you have seen or experienced employee engagement in action.
What amount should crane report as proceeds from issuance : In its statement of cash flows for the year ended December 31, 2021, what amount should Crane report as proceeds from issuance of bonds payable?
What type of research method was used : Read the "Social Communication Deficits in Conduct Disorder: A Clinical and Community Survey" article in the required readings. What type of research method.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Find what are agency costs of equity and equity

Find what are agency costs of equity and agency costs of debt? Is it possible to put in place mechanisms to reduce all opportunistic action? If not, why not?

  Brady construction company contracted to build an apartment

Brady Construction Company contracted to build an apartment complex for a price of $6,000,000. Construction began in 2016 and was completed in 2018

  How much interest revenue should cuisine recognize

If Cuisine's accounting period ends on December 31, how much interest revenue should Cuisine recognize during 2016 and 2017?

  Question the partnership of gilligan skipper and ginger had

question the partnership of gilligan skipper and ginger had net capital of 570000 on december 31 2014 as

  Placement of a modification paragraph in an audit report

Where is the appropriate placement of a modification paragraph in an audit report? When can an auditor issue a qualified opinion when there is a substantial going concern issue? What should the auditor do when faced with a material departure from GAA..

  Bond premium assuming effective interest amortization method

MONSTER INC. issued $100,000 worth of 10%, five-year bonds at a price of $108,111 when the market rate of interest was 8% (interest is payable semiannually). Calculate the amortization of the bond premium assuming the effective interest amortization ..

  Why a manufacturer may experience an increase

Why a manufacturer may experience an increase in its Inventory Turnover ratio is that the firm has switched to a just-in-time income inventory system

  Calculate an appropriate overhead absorption rate

Calculate an appropriate overhead absorption rate for each production department.-  Calculate the budgeted production cost per unit of each model of windsurfer.

  Evaluate the options and advise him on the tax consequence

A company would like to provide life insurance coverage for its employees. The company has three officers who make $100,000 each per year and three staff employees who make $40,000 each per year. The president comes to you asking for your advice on h..

  Calculation of target cost to maintain a target profit

calculation of target cost to maintain a target profit rate.a manufacturer is developing a new type of vacuum cleaner

  What is the present value of the estimated residual value

Estimated life of five years and a $5,000 residual value. Assuming an 8% interest rate, what is the present value of the estimated residual value?

  What are the earnings per share figure

Dan, Inc., has sales of $603,000, costs of $255,000, depreciation expense of $62,000, interest expense of $29,000, and a tax rate of 30 percent. The firm paid out $45,000 in cash dividends and has 58,000 shares of common stock outstanding. What are t..

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