User Account

All Pages

Prepare the entry to record bad debt expense

Assignment Help Accounting Basics
Reference no: EM131113016

Use the information presented in BE7-4 for Wilton, Inc.

(a) Instead of estimating the un-collectibles at 2% of net sales, assume that 10% of accounts receivable will prove to be uncollectible. Prepare the entry to record bad debt expense.

(b) Instead of estimating un-collectibles at 2% of net sales, assume Wilton prepares an aging schedule that estimates total uncollectible accounts at $24,600. Prepare the entry to record bad debt expense.

Reference no: EM131113016

Questions Cloud

Percentage change in the quantity of labor : In the nonfarm sector, output fell 5.5 percent as labor productivity increased 1.9 percentlong dash-the largest increase since 2003 long dash-but in the manufacturing sector, output fell 9.8 percent as labor productivity increased by 4.9 percentlo..
Milner family importers sold goods to tung decorators : Milner Family Importers sold goods to Tung Decorators for $30,000 on November 1, 2010, accepting Tung's $30,000, 6-month, 6% note.
What is the effect of the weighted average cost of capital : What is the best way to minimize the weighted average cost of capital? What is the effect of the weighted average cost of capital on the market value? What are the main conclusions for this article, and what could be improved upon in its analysis?
Arrange their ages in ascending order : A boy is six months old his sister was given birth to three month after him. if their cousin is 0.33years old, arrange their ages in ascending order
Prepare the entry to record bad debt expense : Instead of estimating un-collectibles at 2% of net sales, assume Wilton prepares an aging schedule that estimates total uncollectible accounts at $24,600. Prepare the entry to record bad debt expense.
Should the over-development occur excess gun blueing : Should the over-development occur, excess gun blueing may be removed from the metal coins using acidified hydrogen peroxide. A clear lacquer spray can be applied to the coins to stabilize the development process, and, to enhance the contrast of th..
Wilton inc had net sales in 2010 : Wilton, Inc. had net sales in 2010 of $1,400,000. At December 31, 2010, before adjusting entries, the balances in selected accounts were: Accounts Receivable $250,000 debit, and Allowance for Doubtful Accounts $2,400 credit.
Find the largest number of these intervals : The algorithm always yields an optimal solution or give a counterexample showing this not to be the case.
Contemplating the purchase of a new machine : Boston Company is contemplating the purchase of a new machine on which the following information has been gathered:

Reviews

Write a Review

Accounting Basics Questions & Answers

  Rate of return on common stockholders equity

Jennifer Company reports the following amounts for 2010: Net income $135,000 Average stockholder's equity 500,000 Preferred dividends 35,000 Par value preferred stock 100,000 The 2010 rate of return on common stockholders' equity is ?

  Total amount related to loan

What is the total amount related to this loan that should be reported under current liabilities on the company's December 31, 2008, balance sheet?

  If hallas company does close down the northwest plant fixed

hallas company manufactures a fast-bonding glue in its northwest plant. the company normally produces and sells 44000

  Write a 3 page paper describing the value of a new

write a 3 page paper describing the value of a new accounting system to kudler fine foods. your paper must cover the

  Cash outflows from financing activities include the payment

1 cash flows from financing activities as part of the statement of cash flows include payments for dividends. a. true

  What is appropriate rop

Based on available information, lead time demand for CD ROM drives averages 250 units (normally distributed), with a standard deviation of 25 drives. Management wants a 98% service level. How many drives should be carried as safety stock? What is ..

  Goochu2019s planned to sell 75000 units this year at 400

goochu2019s planned to sell 75000 units this year at 4.00 per unit. actual results indicate that 76000 units were sold

  What is the real life cpas tab all about

After look at this website, what do you think is its purpose? What did you learn about accounting careers and CPAs which you may not have known before viewing it?

  What is the prime cost per calculator for the fourth batch

What is the prime cost per calculator for the fourth batch. Estimate how many direct labour hours will be required to produce the fourth batch of calculators

  Gains from trade with imperfect competition

Explain why the gains from trade with imperfect competition may be larger than they are with perfect competition. Does it therefore follow that, if a country is going to trade in any case, it would be better off if its industries are imperfectly c..

  The new manager of the cpu assembly department was asked to

bell computers ltd. located in liverpool england assembles a standardized personal computer from parts it purchases

  Determine the balances of the factory overhead accounts for

Tiny Biggs Company operates two factories. The company applies factory overhead to jobs on the basis of machine hours in Factory 1 and on the basis of direct labor hours in Factory 2. Estimated factory overhead costs, direct labor hours, and machine ..

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd