Prepare the year end adjusting entry for uncollectible

Assignment Help Financial Accounting
Reference no: EM13775659

Warner Company’s year-end unadjusted trial balance shows accounts receivable of $99,000, allowance for doubtful accounts of $600 (credit), and sales of $280,000. Uncollectible are estimated to be 1.5% of accounts receivable.

1. Prepare the December 31 year-end adjusting entry for uncollectible

2. What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit balance of $300?

Reference no: EM13775659

Questions Cloud

Egoism-pleasure and indifference : The author discusses "Egoism, Pleasure, and Indifference." Your assignment is to write about one of the following ethical theories:
Critically review zone and field models : Critically review zone and field models used for compartment fire modelling. Provide examples and critically analyse the main assumptions, limitations, advantages and disadvantages of these models.
Analyze the pattern of robbery activity : What technological assistance would be needed to conduct this operation? What measures would you take to analyze the pattern of robbery activity? How would you go about synthesizing the data and coming to a conclusion based on the data
The organization of u.s. health care : Why have physician reimbursement models changed over the years?
Prepare the year end adjusting entry for uncollectible : Warner Company’s year-end unadjusted trial balance shows accounts receivable of $99,000, allowance for doubtful accounts of $600 (credit), and sales of $280,000. Uncollectible are estimated to be 1.5% of accounts receivable. Prepare the December 31 y..
Features added to preferred stock : 250- to 350-word paper explaining why preferred stock is referred to as preferred and what some of the features added to preferred stock are that make it more attractive to investors. Would you select preferred stock or common stock as an investme..
Explain synthesizing data and why it is important : Explain synthesizing data and why it is important to a criminal investigation
What is noahs moving expense deduction : Noah moved from Deleware to Arizona to accept a better job. He incurred the following unreimbursed moving expenses: What is Noah's moving expense deduction?
Painless cost control issues : What are some examples of painless cost control? Are these painless for everyone?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate diluted earnings per share

Calculate diluted earnings per share for 2012, assuming the same facts as above, except that $1,000,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares of Lindsey common sto..

  Big co acquired 1000 shares of voting stock in little co

big co. acquired 1000 shares of voting stock in little co. for 100000 cash. little co. presently has 10000 shares of

  Question paula and paul petroceli were trying to choose

question paula and paul petroceli were trying to choose whether to go to the symphony or to the baseball game. they

  Separate issuances of stock

Prepare Journal entries to record the following four separate issuances of stock. A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash.

  Calculate return on investment

Calculate return on investment(ROI) for each division using operating income as a measure of income and total assets as a measure of investment.

  Prepare a flexible budget for lakemaster company for month

Determine the variance between the flexible budget and actual cost for each cost item.

  You are the newly hired accountant for the gift shop the

you are the newly hired accountant for the gift shop. the owner has just received the december 31 2008 bank statement

  Analyze accounting and reporting requirements

Do you think that nonprofits should continue to abide by the wishes of contributors who donated on the basis of a specific use of their donation, or, during tough economic times, should they ask these contributors to relax any restrictions they pl..

  What were the total dividends paid to shareholders

What were the total dividends paid to shareholders during the most recent year and Determine of total dividends paid to shareholders during the most recent year.

  What is the amount of contribution margin

What is the amount of contribution margin that will be obtained per machine hour on each product and which product would you recommend that the company work on next week ' the orders for product F, product G or product H? Show your computation

  Investment analysis and calculation of return on

investment analysis and calculation of return on equity.1.nbspsuppose you borrowed 25000 at a rate of 8 and must repay

  Redrafting contribution margin statements

Redrafting contribution Margin statements - Electricity cost is only for lighting a rather large area of land for play at night and is always on after sunset regardless of how many shooters are on site.

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