By what amount will the net business income increased

Assignment Help Accounting Basics
Reference no: EM132733670

Question - At the end of 2019, DOC Ltd has ending accounts receivable of $87,500. Of this amount, it is estimated that $3,400 would prove uncollectible. A reserve for tax purposes is deducted for this amount. During 2020, $3,600 of accounts receivable are written off. At the end of 2020, accounts receivable total $103,200, with $4,100 of this amount expected to be uncollectible.

Required - By what amount will the 2020 net business income of DOC's Books be increased or decreased by the preceding information with respect to bad debts? Show all the calculations.

Reference no: EM132733670

Questions Cloud

Steps of animal virus replication occurring in sars-cov2 : List and describe the 6 steps of animal virus replication occurring in SARS-Cov2.
Describe some of the environmental and technological factors : Describe some of the environmental and technological factors that affect your college or university. Give specific examples of how they affect you as a student.
Develop an ethical decision-making illustration : Based on your work in Weeks 3 and 4, develop an ethical decision-making illustration or decision tree that shows ways to address each risk if an actual incident
Why two methods would be appropriate : Suggest 2 information collection methods for the job of golf club repair person and explain briefly why these 2 methods would be appropriate.
By what amount will the net business income increased : By what amount will the 2020 net business income of DOC's Books be increased or decreased by the preceding information with respect to bad debts
Cystic fibrosis genetics variant r347p : What class does your variant fall into? What is the problem that puts this variant into this class? What are the most common clinical manifestations for this va
Would state of estates have to provide the requested : Ella, Would "State of Estates" have to provide the requested accommodation of the caffeine pills in this instance? Why or why not?
Would ned have an argument for religious discrimination : Ned was hired six weeks ago by "State of Estates", Would Ned have an argument for religious discrimination against "State of Estates?" Why or why not?
Explain tremendous effect on president ronald reagan : Watch the Movie War Games from 1983. According to the: ‘WarGames' and Cybersecurity's Debt to a Hollywood Hack (By Fred Kaplan), this movie had a tremendous.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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