Accounts receivable and allowance for doubtful accounts

Assignment Help Financial Accounting
Reference no: EM1312485

Finding  the write off of the specific receivable.

The Draber Company uses the allowance method based on the aging method to determine the estimated allowance for doubtful accounts. Below is presented an aging at the end of the current period with the percent uncollectible experience rates:



Number of Days Outstanding



0-30 days

31-60 days

61-90 days

91-120 days

Over 120 days

Accounts Receivable







%uncollectible rate







If $2,000 is determined to be specifically uncollectible, what effect will the write-off of the specific receivable have on:
a. accounts receivable?
b. allowance for doubtful accounts?
c. net receivables?
d. bad debt expense?
You may find it helpful to use a journal entry as part of your response, but this is not required.

Reference no: EM1312485

Construct a monthly cash budget-require external financing

Using the information provided, construct a monthly cash budget for October through December 2011. Based on your analysis, will Noble enjoy a surfeit of cash, or require exter

How does us gaap differ in treatment from international gaap

Is the practice of earnings management through the use of deferred maintenance allowed in the United States? How does US GAAP differ in this treatment from International GAA

What amount will the evanston company report

The Evanston Company acquired a 25% interest in Straw Enterprises for $8,000,000 and appropriately applied the equity method. During the first year, Straw reported net income

Using specific interest method-calculate amount of interest

On January 1, 2016, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2017. C

Explain why overhead costs-support department costs

Why must costs be allocated? Explain why overhead costs, support department costs, or joint costs must be allocated to products, and give an example of a company that might al

Compute the roi and ri for this division

Assume that the Pip division is presented with an investment project yielding a 20 percent return on its investment requiring a cash outlay of $30,000. Would the manager of

What problems or concerns would you have raised for company

Assume that a company buys land with a building on it for $1,500,000. At the time of purchase the company planned to tear the old building down and build a new building. The c

What would be the depreciation expense for machine

Compute the amount of accumulated depreciation on each machine at December 31, 2013 and if machine 2 was purchased on April 1 instead of July 1, what would be the depreciatio


Write a Review

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