Allowance for doubtful accounts

Assignment Help Financial Accounting

Reference no: EM131211443

Deflated Ball Incorporated (DBI) reported the following information in the Accounts Receivable section of their end of year 2015 financial statements: Accounts Receivable $ 103,000 Allowance for Doubtful Accounts (1,600) During 2016 the following occurred: • Payments on A/R by customers was $ 88,100 • Credit Sales were $ 130,000 • Write-offs of A/R were $ 6,100 • DBI’s NET INCOME was $53,000 ] If the write-offs in 2016 would have been $ 4,500 (instead of 6,100) what would DBI have reported for their 2016 NET INCOME ?

Reference no: EM131211443

Questions Cloud

Describe the features of the case tool : Describe the features of the CASE tool and state the main features and benefits that developers would derive from the use of the particular CASE tool.

Briefly explain difference between state and nation-state : Briefly explain the difference between " State ," " nation-state." Provide an example for each. Discuss background and the origins of the development of the modern state in Europe. Include the role industrialization played in this development.

Difference between a deferred asset and deferred liability : Imagine that you work in an accounting firm and your boss has requested you to present an overview of the tax structure to your organization. Two presentations have been requested. The first is a presentation that explains the differences between the..

Depending on how projects are managed : As we all know priorities on projects usually change all the time. Depending on how projects are managed, priorities are handled differently. In Agile approach, if a timebox (iteration) plan needs to be re-prioritized in a hurry, who do you think ..

Allowance for doubtful accounts : Deflated Ball Incorporated (DBI) reported the following information in the Accounts Receivable section of their end of year 2015 financial statements: Accounts Receivable $ 103,000 Allowance for Doubtful Accounts (1,600) During 2016 the following occ..

Personality traits are influencing the communication : What cultural and/or personality traits are influencing the communication? What is Sarah likely to be thinking/feeling? What is Sandeep likely to be thinking/feeling?

Analyze the performance of its emergency department : MA0261 - Assignment Problem description. A hospital wants to analyze the performance of its emergency department (ED) and is interested in the following questions, among others: How are the waiting times distributed across different patient groups

Effective tax rate-cash tax rate and structural tax rate : Imagine that you work in an accounting firm and your boss has requested you to present an overview of the tax structure to your organization. Two presentations have been requested. The first is a presentation that explains the differences between the..

Describe why does your state lean republican or democrat : Does your state lean Republican or Democrat? Why? Who are your senators? What are their party affiliation, background, length of service, voting record, and key issues?

User Account

All Pages