User Account

All Pages

Calculate the figure that will be reported

Assignment Help Accounting Basics
Reference no: EM132696451

Question - Allowance for Doubtful Debts: Rainbow Ltd Trial Balance at 30 September 20X0 included:

Debit $ Credit $

Receivables ledger control account 90,350

Allowance for doubtful debts brought forward 2,490

The following information is also available:

(1) No entries have been made in respect of cash of $1,320 received from Sea Breeze Ltd whose balance had been written off last year

2) At 30 September 20X0 an irrecoverable balance of $1,950 is to be written off and the receivable allowance is to be adjusted to 15% of the remaining balance.

Required - Calculate the figure that will be reported in the statement of financial position at 30 September for receivables.

Reference no: EM132696451

Questions Cloud

How much must save during each of the next ten years : How much must he save during each of the next 10 years (end-of-year deposits) to meet his retirement goal? Do not round your intermediate calculations.
Find out some strengths and weaknesses of the strategy : Read the following case of corporate social responsibility. Now find out some strengths & weaknesses of this strategy, if it is applied in Bangladeshi company.
What should be the net carrying value of coss inventory : Coss records losses that results from applying the lower of cost or NRV. At December 31, 2020, what should be the net carrying value of Coss' inventory
Journalize the adjusting entries on december : Statz Company had sales of $2,000,000, Journalize the adjusting entries on December 31, 20Y1, to record the expected customer returns.
Calculate the figure that will be reported : Allowance for Doubtful Debts: Calculate the figure that will be reported in the statement of financial position at 30 September for receivables
Describe the meaning of workforce diversity : Diversity is an important part of Human Resource Management (HRM) today. Describe the meaning of "Workforce Diversity". Discuss current trends and provide.
Prepare necessary entries in general journal form for abc co : Prepare all necessary entries in general journal form for ABC Co. Accounts receivable of €60,000 (gross) are factored with BFO Credit
Identify the managerial function of hr managers : Identify the managerial function' out of the following functions of HR managers? Procurement, Development, Performance appraisal.
Bitcoins as standard form of currency : Search the Internet and explain why some organizations are accepting and other organizations are rejecting the use of Bitcoins as a standard form of currency.

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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