Allowance for doubtful accounts

Reference no: EM13122966

Determine the amount to be added to Allowance for Doubtful Accounts in each of following cases.

A) Credit balance of $300 in the allowance account just prior to adjustment. Analysis of accounts receivable indicates doubtful accounts of 8500.

amount to be added to allowance?
new ending balance?

B) Credit balance of $500 in the allowance account just prior to adjustment. Uncollectable accounts are estimated at 2% of sales, which totaled 1,000,000 for the year.

amount to be added to allowance?

new ending balance?

Reference no: EM13122966

Questions Cloud

What is the volume occupied by helium gas : What is the volume occupied by 0.265mol of helium gas at a pressure of 1.28atm and a temperature of 307K

Leaders are born : Many people believe that leaders are born, not made. However, anyone can be a strong leader as long as determination, open-mindedness, and optimism are learned and developed. First, determination is the key to becoming a strong leader. Determination ..

Explain vertical line with a graph of equation : A brief and an original writeup has been provided to explain the student community the concept of vertical lines. A graphical example of equation x=4 has been attached to aid the understanding of the concept.

How much energy is required to warm water : how much energy is required to warm 100g of H2O from 20 degrees celcius to 80 degrees celcius if it is initially in a 140g glass flask? the specific heat of water is 4.18 J/g degree celcius.

Allowance for doubtful accounts : Determine the amount to be added to Allowance for Doubtful Accounts in each of following cases.

Explain how division of housework was fair : Amount of housework done by men and women in dual-earner marriages. The study showed that 67.5% of the men felt that the division of housework was fair?

Production lot size-waiting line problem : Kellam Images prints snack food bags on long rolls of plastic film. The plant operates 250 days a year. The daily production rate is 6000 bags, and the daily demand is 3500 bags. The cost to set up the design for printing is $300. The holding cost..

How many grams of acetic acid are in a sample : If 4.00 ml of vinegar needs 42.0ml of 0.110M NaOH to reach the equivalence point in a titration, how many grams of acetic acid are in a 1.10qt sample of this vinegar?

Accounting for uncollectible receivables : Journalize the following transaction using the direct write-off method of accounting for uncollectible receivables.

User Account

All Pages