Amount of allowance for uncollectible accounts

Assignment Help Accounting Basics
Reference no: EM13145582

The allowance for uncollectible accounts currently has a credit balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger, the company's management estimates that uncollectible accounts will be $15,000. What will be the c reported on the balance sheet?

Reference no: EM13145582

Previous Q& A

  State null and alternative hypothesis in symbolic form

You are conducting a one-tailed or two-tailed test? Explain with an example and also state the Null and the Alternative hypothesis for the example in symbolic form.

  Determine the mole percentage of the two components

during one of the processes at the plant. The two liquids are blended until a specific gravity of 1.445. Determine the mole percentage of the two components in the blend.

  Record the disposal under the assumptions

Puckett Co. has office furniture that cost $75,000 and that has been depreciated $50,000. Record the disposal under the following assumptions.

  Use fitted trend equations to make numerical forecast

Which trend model do you think is best to make forecasts for the next 3 years? Why? (e) Use each of the three fitted trend equations to make a numerical forecast for 2007.

  Outstanding common stock of sam corporation

Father, inc. buys 80 percent of the outstanding common stock of sam corporation on January 1, 2009 for $680000 cash. at the acquisition date, sam's total fair value was assessed at $850,000 although sam's book vale was only $600,000.

  Compute the relative dispersion of each group

Compute the relative dispersion (Coefficient of Variation) of each group and give us your thoughts on the dispersion. About 95% of all checked luggage on domestic flights weigh between what two values? How did you find this?

  Characteristic of a business combination

Which one of the following is a characteristic of a business combination that should be accounted for as a purchase?

  Prepare the journal entries for bentz corporation

Bentz Corporation bought and sold several securities during 2006. Listed below is a summary of the transactions. Prepare the journal entries for the above transactions. Show calculations.

  Find out the tax consequences

Put in holding company in exchange for 1 million in p/s and 800,000 in debt, what are the tax consequences?

  Maintain a portfolio of financial issues

Analyse the articles with reference to theory covered in class and highlight links with the theory. You may need to do additional research to understand certain terms in the articles.

Reviews

Write a Review

 

Similar Q& A

  Annual rate of bonds

In the section on the yield to call, a bond pays annual interest of $80 and matures after ten years. The bond is valued at $1,147 if the comparable rate is 6 percent and the bond is held to maturity.

  Determining the break even point

Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess's break even point.

  Explain the advantages and potential disadvantages

When comparing Net Present Value and Internal Rate of Return, which method is better? Explain the advantages and potential disadvantages. Focus on what makes these two methods different.

  Social security benefits

Wilma is a widow, age 80 and blind, who is claimed as a dependent by her son. During 2010, she received $4,800 in Social Security benefits, $2,200 in bank interest, and $1,800 in cash dividends from stocks. Wilma's taxable income is:

  Audit-cobit methodology

How does an audit performed using CobiT methodology differ from an audit that doesn't?

  Total interest expense related to bonds

The bonds are dated January 1, 2006, and mature on January 1, 2010. The total interest expense related to these bonds for the year ended December 31, 2006 is ??

  Prepare the necessary entries from

Stock Options, Prepare the necessary entries from 1/1/10-2/1/12 for the following events using the fair value method. If no entry is needed, write "No Entry Necessary."

  Operating income and net book value of assets

Calculate the ROI for Hercules. Use operating income and net book value of assets as the measures for income and investment respectively.

  Couple elects gift splitting for the current year

In the current year, Donna gives $50,000 cash and $30,000 of stock to Mike. She also gives $40,000 of tax-exempt bonds to Angela. Her husband, Andy, gives $200,000 of land to Angela. Assume the couple elects gift splitting for the current year.

  What are the total variable expenses

For Garland Company, sales is $1,000,000, fixed expenses are $300,000, and the contribution margin ratio is 36%. What are the total variable expenses?

  What is the project net present value

A project will require an initial investment of $750,000 and will return $200,000 each year for five years. If taxes are ignored and the required rate of return is 9%, what is the project's net present value? Based on this analysis, should the com..

  Setting up an amortization schedule

Set up an amortization schedule for a $25,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 10 percent, compounded annually.

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