User Account

All Pages

The accounts receivable balance is 300000 and credit sales

Assignment Help Accounting Basics
Reference no: EM13573040

Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $300,000 and credit sales are $1,000,000. An aging of accounts receivable shows that approximately 5% of the outstanding receivables will be uncollectible. What adjusting entry will Tanning Company make if the Allowance for Doubtful Accounts has a credit balance of $2,000 before adjustment?

Reference no: EM13573040

Questions Cloud

Byrd company produces one product a putter called go-putter : byrd company produces one product a putter called go-putter. byrd uses a standard cost system and determines that it
The collyer corporation is authorized to issue 100000 : the collyer corporation is authorized to issue 100000 shares of 1 par value common stock. prepare the journal entry to
The klaven corporation had operating income ebit of 750000 : the klaven corporation had operating income ebit of 750000 and depreciation expense of 200000. it is 100 percent
Kristen the regional manager for a national hardware chain : kristen the regional manager for a national hardware chain is based in atlanta. during march and april of this year she
The accounts receivable balance is 300000 and credit sales : tanning company analyzes its receivables to estimate bad debt expense. the accounts receivable balance is 300000 and
Pearson brothers recently reported an editda of 75 million : pearson brothers recently reported an editda of 7.5 million and net income of 1.8 million. it had 2.0 million of
What is the net present value npv of the investment and the : 1. calculate the net present value npv of the following project cash flows. the applicable discount rate is 11.year 0
Type your question herelopez company has been approached by : type your question herelopez company has been approached by a new customer to provide 2000 units of its regular product
In the twentieth century there were several art movements : in the twentieth century there were several art movements and ideologies. for this assignment research romanticism or

Reviews

Write a Review

Accounting Basics Questions & Answers

  Which of following reasons is the most significant for

which of the following reasons is the most important for assessing the external workforce when doing hr planning?a the

  Find the net amount to be paid the employee

hours worked, 46; federal income tax withheld, $354; cumulative earnings for year prior to current week, $95,735; social security tax rate, 6.0% on maximum of $111,091; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid..

  Making a cash budget-expected inventories of supplies

Tom and Lynda own Hercules Health Club. They provide the following information regarding their expected inventories of supplies and other materials.

  Prepare schedules for expected collections

Prepare schedules for expected collections from customers and expected payments for direct materials purchases - prepare a cash budget for January and February in columnar form.

  What is the breakeven point in sales dollars for win

What is the breakeven point in sales dollars for Win?

  Prepare pension worksheet-journal entries

Buhl Corp. sponsors a defined benefit plan for its employees. On January 1, 2008, the following balances relate to his plan: Using the data above, compute pension expense for Buhl Corp. for the year 2008 by preparing a pension workheet that shows ..

  Summary of the time tickets

A summary of the time tickets for August follows:

  Define the number of shares outstanding

Smelling Company declared a 2-for-1 stock split on its common stock in order to intentionally reduce the market value of its stock so that it would be an attractive investment for a larger set of investors.

  The payments are 20500 the first year and increase by 800

on january 1 2013 sweetwater furniture company leased office space under a 21-year operating lease agreement. the

  Give the simple entry for explanation

Show me the assumption and give the simple entry for explanation

  Mitchell company has total current assets of 45000 which

mitchell company has total current assets of 45000 which includes inventory of 10000 and current liabilities of 17300.

  Determine the appropriate income statement presentation

Determine the appropriate income statement presentation (sales, cost of sales,

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: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd