Net realizable value of the accounts receivable

Assignment Help Financial Accounting
Reference no: EM13790744

After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $659,766 and Allowance for Doubtful Accounts has a balance of $18,550. What is the net realizable value of the accounts receivable?

Select the correct answer.

$18,550                

$678,316             

$641,216             

$659,766

Reference no: EM13790744

Questions Cloud

Environmental death including drowning and lightning. : Choose a state in the United States, and research the rates of occurrence of these types of deaths in that state.
Identify the audit procedures performed : Requested responses directly from customers as to the amounts due. Compared total bad debts tis year with the totals for the previous two years. Questions management about likely total uncollectable accounts. Watched the accounting clerk record the d..
Assume that the revenue and variable cost relationships : In 2014, X Company's revenue was $246,600, its total variable costs were $99,000, and its fixed costs were $87,000. Assume that the revenue and variable cost relationships continue in 2015, but fixed costs decrease by 15%. If the tax rate is 30%, wha..
Expectations for program characteristics and performance : A regulation is a binding rule that has been created by a governing body outside of the early childhood program. A standard is a statement of expectations for program characteristics and performance
Net realizable value of the accounts receivable : After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $659,766 and Allowance for Doubtful Accounts has a balance of $18,550. What is the net realizable value of the accounts receivable?
How much money is in the deposit insurance fund : Would you say, overall, that the banking industry is growing stronger or weaker right now? What's happening with asset quality (i.e., the quality of loans... Look for mentions of noncurrent or past due loans)? Are banks adding to their capital levels..
Entry to record estimated uncollectible accounts receivables : Allowance for Doubtful Accounts has a credit balance of $460 at the end of the year (before adjustment), and bad debt expense is estimated at 2% of net sales. If net sales are $666,297, the amount of the adjusting entry to record the estimated uncoll..
Refine and clarify the health problem : What data did you find to support your decision? Help each other refine and clarify the health problem.
The face value of the note is the one listed : A 60-day, 10% note for $7,200, dated April 15 is received from a customer on account. The face value of the note is the one listed below.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Write an argument using the generalization

Write an argument using the following generalization. Draw out the problem foundation and the implication; People are so afraid of making the same mistakes that they make different ones.

  National differences in statutory tax rates

“National differences in statutory tax rates are the most obvious yet the least significant determinants of a company’s effective tax burden.” Do you agree? Explain this statement by comparing at least two different countries.

  Prepare the entries on the appropriate dates to record

Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend.

  What makes cash basis easier for small companies to use

What makes cash basis easier for small companies to use? Do you think it has to do with their frame of reference on business operations? In other words, if they have cash left at the end of the period, is that an indication they're doing well?

  Analyze the financial reporting information

Review the information presented in the financial statements of the company you selected and using the company you selected, calculate one ratio for a three-year period from each category.

  On consolidated net income

Dennis Company is an 80%-owned subsidiary of Kay Industries. Dennis Company issued 10-year, 8% bonds in the amount of $1,000,000 on January 1, 20X1. On the distribution of income to the controlling and noncontrolling interests.

  Questionabsorption and variable costing with high-low cost

questionabsorption and variable costing with high-low cost estimation and cvp analysis including taxespresented are the

  Exchange lacked commercial substance

A machine cost $240,000, has annual depreciation expense of $48,000, and has accumulated depreciation of $120,000 on December 31, 2014. On April 1, 2015, when the machine has a fair value of $96,000, it is exchanged for a similar machine with a fair ..

  Consider and include the history and practices in australia

An extensive consultation paper has been provided to you related to the Conceptual Framework from the International Public Sector Accounting Standards Board.

  Improve performance for the second quarter

Rosen should be seriously considered for the CEO position and discuss three shortcomings of the absorption approach for internal decision-making

  The amount that was invested in the mutual fund

An investor invested a total of $2,600 in two mutual funds. One fund earned a 7% profit while the other a 3% profit. If the investor's total profit was $138, how much was invested in each mutual fund? The amount that was invested in the mutual fund t..

  Wages and salaries in planning budget

Oscarson Midwifery's cost formula for its wages and salaries is $3,200 per month plus $460 per birth. For the month of September, the company planned for activity of 163 births, but the actual level of activity was 150 births. The actual wages and sa..

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