subject
Business, 06.10.2019 01:30 val186

At the end of the current year (before adjusting entries), summer corporation had a balance of $ 88 comma 000 in accounts receivable and a credit balance of $ 11 comma 000 in allowance for uncollectible accounts. service revenue (all on credit) for the year totaled $ 470 comma 000. read the requirement 1. using the percent-of-sales method, calculate the amount of uncollectible-account expense if summer corporation estimates its uncollectible-account expense using a rate of 3% of credit sales. what is the ending balance of the allowance for uncollectible accounts under this scenario? summer corporation has $ of uncollectible-account expense using the percent-of-sales method. the ending balance of the allowance for uncollectible accounts is $ under this scenario. requirement 2. now assume that summer corporation uses the aging-of-receivables method. summer corporation estimates that its allowance for uncollectible accounts should have a credit balance of $ 26 comma 000. calculate the amount of its uncollectible-account expense. what is the ending balance of the allowance for uncollectible accounts under this scenario? summer corporation has $ of uncollectible-account expense using the aging-of-receivables method. the ending balance of the allowance for uncollectible accounts is $ under this scenario.

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 20:20
Gamegirl inc., has the following transactions during august. august 6 sold 76 handheld game devices for $230 each to ds unlimited on account, terms 2/10, net 60. the cost of the 76 game devices sold, was $210 each. august 10 ds unlimited returned six game devices purchased on 6th august since they were defective. august 14 received full amount due from ds unlimited. required: prepare the transactions for gamegirl, inc., assuming the company uses a perpetual inventory syste
Answers: 2
question
Business, 22.06.2019 22:00
In 2018, laureen is currently single. she paid $2,800 of qualified tuition and related expenses for each of her twin daughters sheri and meri to attend state university as freshmen ($2,800 each for a total of $5,600). sheri and meri qualify as laureen’s dependents. laureen also paid $1,900 for her son ryan’s (also laureen’s dependent) tuition and related expenses to attend his junior year at state university. finally, laureen paid $1,200 for herself to attend seminars at a community college to her improve her job skills.what is the maximum amount of education credits laureen can claim for these expenditures in each of the following alternative scenarios? a. laureen's agi is $45,000.b. laureen’s agi is $95,000.c. laureen’s agi is $45,000 and laureen paid $12,000 (not $1,900) for ryan to attend graduate school (i.e, his fifth year, not his junior year).
Answers: 2
question
Business, 23.06.2019 01:20
Which of the following is true about presentation methods for providing training? audiovisual techniques are most effective when they are used alone. mobile technologies include training methods such as on-the-job training, simulations, business games and case studies, behavior modeling, interactive video, and web-based training that require the trainee to be actively involved in learning. the typical users for teleconferencing include employees who are part of a workforce that spends most of its time traveling, visiting customers or various company locations and has limited time available to spend in traditional training activities. webcasting involves classroom instructions that are provided online through live broadcasts. classroom instruction is no longer a popular training method because of new technologies such as interactive video and computer-assisted instruction.
Answers: 1
question
Business, 23.06.2019 08:00
If consumers start to believe they need a product, what is likely to happen? a. the demand becomes less elastic. b. the demand becomes more elastic. c. the supply decreases. d. the price decreases.
Answers: 1
You know the right answer?
At the end of the current year (before adjusting entries), summer corporation had a balance of $ 88...
Questions
question
Mathematics, 26.01.2022 14:00
question
Mathematics, 26.01.2022 14:00
question
Mathematics, 26.01.2022 14:00
question
Mathematics, 26.01.2022 14:00
question
Mathematics, 26.01.2022 14:00
question
Mathematics, 26.01.2022 14:00
Questions on the website: 13722359