User Account

All Pages

Determine the total estimated uncollectibles

Assignment Help Accounting Basics
Reference no: EM131588355

Question - Enge Company has accounts receivable of $108,000 at March 31.

Month of Sale

Balance,

March 31

Average Age of Receivables Outstanding

March$70,40016daysFebruary19,40048daysJanuary9,30073daysPrior to January8,900110days108,000

Credit terms are 2/10, n/30. At March 31, Allowance for Doubtful Accounts has a credit balance of $1,500 prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimate of bad debts is shown below.

Age of Accounts

Estimated Percentage

Uncollectible

1-30 days2.0%31-60 days5.0%61-90 days25.0%Over 90 days51.0%

(a) Determine the total estimated uncollectibles.

Reference no: EM131588355

Questions Cloud

Estimated the ending inventory of lolita company : Question - Lolita Company has the following information: Beginning Inventory $190,000. Estimated the ending inventory of Lolita Company's
What is the story of your racial identity : Identify personal and social concerns that you have resolved or are working on. What is the "story" of your racial identity?
Write 3 page security-risk management and governance : The chief information officer (CIO) is very pleased with all of your efforts to adopt cloud-based services and wants to ensure the data is secure
Computing the z-transform of the given sequence : For the examples of Problem II compute and plot the finite Fourier transform using the MATLAB f f t routine.
Determine the total estimated uncollectibles : Question - Enge Company has accounts receivable of $108,000 at March 31. Determine the total estimated uncollectibles
Discuss elements of performance management : The purpose of this assignment is to simulate the thought process that managers use when evaluating the various elements of performance management
What does mill identify as the good : What does Mill identify as the good, and does it have these characteristics? What good does he seem to be referring to and does it have these characteristics?
What are the challenges of agile methodologies : What are the challenges of Agile methodologies when compared to the traditional SDLC?
How the contract accounts will appear in the balance sheet : Chicago contractors got $7,000,000 contract to construct a school building for the City of Chicago

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