subject
Business, 08.04.2021 20:50 mirandatorres2601

Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $765,000; Allowance for Doubtful Accounts has a debit balance of $7,000; and sales for the year total $3,440,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $28,700. a. Determine the amount of the adjusting entry for uncollectible accounts. $fill in the blank 1 b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $fill in the blank 2 Allowance for Doubtful Accounts $fill in the blank 3 Bad Debt Expense $fill in the blank 4 c. Determine the net realizable value of accounts receivable. $fill in the blank 5

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 16:30
How is the architecture career pathway different from the construction pathway? a. architecture involves coordinating with contractors to make sure everyone stays on schedule. b. architecture involves using tools and equipment to build something new. c. architecture involves the design process, considering the function and safety of the project. d. architecture involves evaluating the work of contractors and employees.
Answers: 1
question
Business, 22.06.2019 06:30
Selected data for stick’s design are given as of december 31, year 1 and year 2 (rounded to the nearest hundredth). year 2 year 1 net credit sales $25,000 $30,000 cost of goods sold 16,000 18,000 net income 2,000 2,800 cash 5,000 900 accounts receivable 3,000 2,000 inventory 2,000 3,600 current liabilities 6,000 5,000 compute the following: 1. current ratio for year 2 2. acid-test ratio for year 2 3. accounts receivable turnover for year 2 4. average collection period for year 2 5. inventory turnover for year 2
Answers: 2
question
Business, 22.06.2019 09:50
For each of the following users of financial accounting information and managerial accounting information, specify whether the user would primarily use financial accounting information or managerial accounting information or both: 1. sec examiner 2. bookkeeping department 3. division controller 4. external auditor (public accounting firm) 5. loan officer at the company's bank 6. state tax agency auditor 7. board of directors 8. manager of the service department 9. wall street analyst 10. internal auditor 11. potential investors 12, current stockholders 13. reporter from the wall street journal 14. regional division managers
Answers: 1
question
Business, 22.06.2019 18:10
During the year, the delph company had no beginning or ending inventories and it started, completed, and sold only two jobs—job d-75 and job c-100. it provided the following information related to those two jobs: job d-75: molding fabrication total direct materials cost $ 375,000 $ 325,000 $ 700,000 direct labor cost $ 200,000 $ 160,000 $ 360,000 machine-hours 15,000 5,000 20,000 job c-100: molding fabrication total direct materials cost $ 300,000 $ 250,000 $ 550,000 direct labor cost $ 175,000 $ 225,000 $ 400,000 machine-hours 5,000 25,000 30,000delph had no overapplied or underapplied manufacturing overhead during the year. assume delph uses a plantwide overhead rate based on machine-hours.1-a. compute the predetermined plantwide overhead rate.1-b. compute the total manufacturing costs assigned to job d-70 and job c-200.1-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 1-d. what is delph's cost of goods sold for the year? assume delph uses departmental overhead rates based on machine-hours.2-a. compute the predetermined departmental overhead rates.2-b. compute the total manufacturing costs assigned to job d-70 and job c-200.2-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 2-d. what is delph's cost of goods sold for the year?
Answers: 3
You know the right answer?
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of...
Questions
question
Mathematics, 16.02.2021 17:40
question
Mathematics, 16.02.2021 17:40
question
Mathematics, 16.02.2021 17:40
question
Mathematics, 16.02.2021 17:40
Questions on the website: 13722367