User Account

All Pages

What will be the required balance of the dtl at the end

Assignment Help Financial Accounting
Reference no: EM132494858

The final balance of the allowance for doubtful debt is to be adjusted to represent 2% of the closing balance accounts receivable. Provided with following information

current balance of accounts receivable $200,000

current balance allowance for doubtful debt $2000 DEBIT!!

Bad debt written off for the period $500Tax rate 30%

Tax Rate 30%

Problem 1: With relation to the accounts receivable, what will be the required balance of the DTL at the end of the year?

Reference no: EM132494858

Questions Cloud

Prepare the journal entries necessary to account : Prepare the journal entries necessary to account for the establishment of the rig and the changing balance of the restoration provision for the years
Novel value proposition within an existing business : Report for a novel value proposition within an existing business or organisation. You must use appropriate headings to structure the body of the report
Prepare all necessary journal entries in for both situation : Prepare all necessary journal entries in 2019 for both situations. Hatcher Cosmetics acquired 10% of the 200,000 ordinary shares
What is the net cost of the goods if sultan crop pays : What is the net cost of the goods if sultan crop pays within the discount period? Sultan Corp. Purchased merchandise inventory
What will be the required balance of the dtl at the end : With relation to the accounts receivable, What will be the required balance of the DTL at the end of the year? The final balance of the allowance for doubtful
Calculate the forecast project duration using the spi : What are the differences between a time-based report and an events-based report and What are the advantages and disadvantages of an events-based report
Make schedule to estimate amount of uncollectible accounts : It is rumored that the customer will be filing for bankruptcy in the near future. As controller for Rough Stuff, how would you handle this situation?
How important has the federal government involvement : How important has the Federal Government's involvement beenin the proliferation of home loans in the United States?
What are the steps in the underwriting process : What are the steps in the Underwriting Process? Describe the steps.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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