User Account

All Pages

Find what is the net realizable value of the receivables

Assignment Help Accounting Basics
Reference no: EM132737753

Problem 1: Alpha Gym allows services to be on account to loyal customers. The unadjusted Accounts Receivable at the end of the year amounts to ?120,000 and unadjusted Allowance for doubtful accounts amounts to ? 5,000. Service revenue for the year amounted to ? 1,250,000. If Alpha Gym estimates 2% of revenue as bad debts, what is the net realizable value of the receivables which should be presented in the statement of financial position?

A) ? 95,000
B) ? 90,000
C) ? 115,000
D) ? 120,000

Reference no: EM132737753

Questions Cloud

Type of plastic from the seven recycling codes : From the information discussed in class on plastics, select one type of plastic from the seven recycling codes.
What is the partnership agreed capital : One-third interest in the firm upon her investment of an amount equal to the agreed capital as a new partner. What is the partnership's agreed capital?
Identify three factors for each of accounts receivable : You are planning the audit of Kieko Co. Ltd for the year ended 30 June 2019, Identify three factors for each of accounts receivable
Demonstrate comprehension of quantitative research studies : Write a critical appraisal that demonstrates comprehension of two quantitative research studies. Use the "Research Critique Guidelines - Part II".
Find what is the net realizable value of the receivables : Gym estimates 2% of revenue as bad debts, what is the net realizable value of the receivables which should be presented in the statement of financial position?
Emphasis on technology and innovative therapies : Are we losing the personal aspect of health care and education with the increasing emphasis on technology and innovative therapies?
What is profit or the loss from a long straddle position : Long straddle to speculate on the euros value. an option expiration the value of the euro is $1.30. what is profit or the loss from a long straddle position?
Addressing performance issues in the organisation : What options might be applied when addressing performance issues in the organisation?
Prepare the July journal entry to record the purchase : On July 1, 2018, Wolfpack Corporation purchased securities which it intends to buy and sell frequently. Prepare the July journal entry to record the purchase

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