### Allowance for doubtful accounts problem

Assignment Help Accounting Basics
##### Reference no: EM13133193

Which of the following is most likely to be used in determining a proper amount to be included in the allowance for doubtful accounts?

A) Accounts receivable divided by Cost of goods sold.

B) Aging of accounts receivable.

C) Cash Sales divided by Accounts receivable

D) Year 2 accounts receivable compared to year one accounts receivable.

### Previous Q& A

#### Vectors-work done

Let C be the line segment form P(1,0,2) to Q(-2,3,1), and let F be the force given by F(x,y,z)= 2zi - yj + 2xk. Find the work done by F in moving a particle along C.

#### Use manual method of calculation to analyze the data

You may use the manual method of calculation, or show how MegaStat (or other software) is used to analyze the data. Be sure to discuss the interpretation of results.

#### Vectors-find the resultant vector

Make a sketch of the vectors and find the magnitude of the resultant. Two forces each of 4 units at a 90-degree angle to each other.

#### Prepare the journal entries to record the mortgage loan

Kelso Co. receives \$479,000 when it issues a \$479,000, 8%, mortgage note payable to finance the construction of a building at December 31, 2010. The terms provide for semiannual installment payments of \$30,660 on June 30 and December 31.

#### Recompute the debt to total assets ratio

The notes to Donald's financial statements show that subsequent to 2006 the company will have future minimum lease payments under operating leases of \$12,848.1 million.

#### Is the company making acceptable light bulbs

Standard deviation is 35 hours. Is the company making acceptable light bulbs? Assume life spans are normally distributed.

#### Salvage value at the end of service life

The equipment is estimated to have a \$5,000 salvage value at the end of its 10-year useful service life.

#### Description of vector

Find a vector a with representation given by the directed line segment AB. Draw AB and the equivalent representation starting at the origin.

#### What is the correct journal entry for the sale of the stock

At the Board of Director's meeting to review the year-end financial statements, they were concerned that the gain on the sale of the stock was not reported on the income statement. They believed that since the stock was sold at a price higher than..

#### Find probability that the sample mean is larger

A random sample of 25 days' receipts is chosen for an audit. What is the probability that the sample mean is larger than \$2,220?

### Similar Q& A

#### Determining linear equations

Supposing  that a linear functional relationship exists, determine the equation that relates total costs to total sales. Describe why the nature of the relationship may change if sales exceed \$5,000.

#### Computing the factory overhead volume variance

The variable overhead rate was \$3 per hour. Actual fixed overhead was \$360,000 and actual variable overhead was \$170,000. Actual production was 11,700 units.

#### Identify at least four key controls and indicate the tests

The bookkeeper prepares a daily bank deposit slip and compares the total with the total amount shown on the daily remittance tapes. All remittances are deposited in the bank the day they are received. (Cash receipts from sources other than service..

#### Journal entry for bad debt expense

Prepare the adjusting entry that records bad debts expense. Prepare the journal entry that records a write-off of a \$700 uncollectible account receivable.

#### Concept of annual gift tax exclusion

Gordon died on January 1 and by his will left land with an adjusted basis of \$60,000 and a FMV of \$100,000 to Becky. Becky disclaims the property on December 31 of the year of death, when the land was still worth \$100,000. Becky has made a gift (b..

#### Concept of change in reporting entity

Which of the following describes a change in reporting entity?

#### Record the bond pruchase on august 1, 2010

On August 1, 2010, Dambro Co acquired 200, \$1,000, 9% bonds at 97 plus accrued interest. The bonds will be added to Dambro's available for sale portfolio. The bonds were dated May 1, 2010, and mature on April 30, 2016, with interest paid each October..

#### Calculate the annual depreciation expense

Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours, with a salvage value of \$75,000). During the machine's 5-year life its hourly usage was: 3,000; 4,000; 5,000; 5,000; and 3,000 hou..

#### What is marys basis in the real property

Mary received a liquidating distribution from ABC Corporation as part of the complete liquidation of ABC Corporation. Mary's basis for her ABC Corporation stock was \$10,000.

#### Writing the page memorandum

Write down a one-half page memorandum (at least 2 paragraphs) to Terrio explaining why the \$6,000 loss on sale of Blackhawk stock is

#### Essay on legal issues surrounding solyndra

Write down an essay on legal issues surrounding Solyndra, the California based solar panel manufacturer.

#### Needs of international investors

Which of the following is the least likely means a company might choose to meet the needs of international investors?