Proper provision for doubtful accounts

Assignment Help Accounting Basics
Reference no: EM13259212

Allowance for Doubtful Accounts has an unadjusted balance of $1,100 at the end of the year, and an analysis of customer's accounts indicates doubtful accounts of $12,900. Which of the following records the proper provision for doubtful accounts?

a. increase Uncollectible Accounts Expense, $14,000; increaseAllowance for Doubtful Accounts, $14,000

b. decrease Allowance for Doubtful Accounts, $14,000; decreaseUncollectible Accounts Expense, $14,000

c. decrease Allowance for Doubtful Accounts, $11,800; decreaseUncollectible Accounts Expense, $11,800

d. increase Uncollectible Accounts Expense, $11,800; increaseAllowance for Doubtful Accounts, $11,800

Reference no: EM13259212

Questions Cloud

How to connect zig-zag transformer in delta configuration : Is connections in transformer are mains connected with the transformer or winding connections If it is mains connections then how can we connect zig-zag transformer in delta configuration
Incremental cost associated with producing : What is the incremental cost associated with producing an extra 50,000 jars of salsa. What is the incremental cost associated with the price reduction of $0.30 per jar?
The chances of becoming avictim of crime : Does a person bear some of the responsibility for his orher victimization if the person has a lifestyle (e.g., membership in gang,history of drug abuse, etc.) that contributes to the chances of becoming avictim of crime?
What interest was credited to roger account : What interest was credited to Roger's account on June 30 ? The brokerage firm includes interest for both January 1 and June 30 in the June 30 payment. Assume that Febuary has 28 days.
Proper provision for doubtful accounts : Allowance for Doubtful Accounts has an unadjusted balance of $1,100 at the end of the year, and an analysis of customer's accounts indicates doubtful accounts of $12,900. Which of the following records the proper provision for doubtful accounts?
Find the emf induced in the inner solenoid : One solenoid is centered inside another. The outer one has a length of 55.0cm and contains 6800 coils, Find the emf induced in the inner solenoid
What was the amount of each payment : Sutton Trucking made 2 equal payments, on June 25 and July 15, on an invoice dated June 15 with terms 3/10, 1/30, n/60. The payments reduced the balance owed on the invoice to 1043.33. What was the amount of each payment ?
Pension plan of brady company : The following information is available for the pension plan of Brady Company for the year 2010.
Define potential of ph electrodes can vary : Because the potential of pH electrodes can vary, it is necessary to CALIBRATE a pH electrode before use. For many uses, a two-point calibration procedure is appropriate.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Capital gains taxes

James Welling, a 37 year old engineer has an appointment to meet you in about an hour. As you are reviewing his accounts, you notice that he is a fairly active trader. He seems to do pretty well with returns that outpace the averages-Prepare some ..

  Amount of the second distribution

Greg, a cash method of accounting taxpayer, owns 100 shares of Parker Corporation stock with a basis of $20,000. Greg receives two liquidating distributions of $8,000 on March 3 of last year, and $8,000 on August 8 of this year. The amount of the ..

  Before-tax loss on discontinued operations

In its income statement for the year ended January 31, 2010, Rocket would report a before-tax loss on discontinued operations of:

  Prepare and unclassified balance sheet

Prepare and unclassified balance sheet as it would appearat Dec 31,2007 c) how might the statement of cash flows help the user of thefinancial statements? Compute tow cash flow ratios.

  Meaning of contribution margin in layman terms

Vince's assistant manager, an accounting major, has suggested that the firm should try to increase the contribution margin per pizza. Explain the meaning of "contribution margin" in layman's terms.

  Sale of obsolete inventory at cost

The increase in ROI was attributed to a reduction in operating assets brought about by the sale of obsolete inventory at cost (the proceeds from the sale were used to reduce bank loans). By how much was inventory reduced?

  Debit entry to bond interest expense

The market rate of interest for these bonds was 12%. On the first interest date, using the effective-interest method, the debit entry to Bond Interest Expense is for:

  Consider the following information for cowboys town

Consider the following information for Cowboys Town for the year ended December 31, 2015. Expenses - parking garage (enterprise fund) $ 1,200,000

  Discuss possible ways to address the difficulties

What are the steps involved in the preparation of an advance plan for the distribution of cash in a partnership liquidation to determine which step is the most difficult to execute correctly. Discuss possible ways to address the difficulties you i..

  Widget inventory at the end of year using variable costing

What is the dollar value of the widget inventory at the end of the year using variable costing?

  Problem respect to the capitalized lease

Penn accordingly accounted for this lease transaction as a capital lease. The lease payments were determined to have a present value of $671,008 at an effective interest rate of 8%. With respect to this capitalized lease, Penn should record for 20..

  Total controllable cost variance

A company's flexible budget for 48,000 units of production showed variable overhead costs of $72,000 and fixed overhead costs of $64,000. The company incurred overhead costs of $122,800 while operating at a volume of 40,000 units. The total contro..

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