User Account

All Pages

Uncollectible accounts

Assignment Help Accounting Basics
Reference no: EM13492719

Uncollectible Accounts
The general ledger account for Accounts Receivable shows a debit balance of $40,000. The Allowance for Uncollectible Accounts has a credit balance of $2,000. Net sales for the year were $250,000. In the past, 3 percent of net sales have proved uncollectible. An aging of accounts receivable results in an estimate of $9,000 of uncollectible accounts receivable.
Calculate (1) Uncollectible Accounts Expense and (2) the ending balance of the Allowance for Uncollectible Accounts using (a) the percentage of net sales method and (b) the accounts receivable aging method.
Create an Excel spreadsheet to submit your assignment.

Reference no: EM13492719

Questions Cloud

How far to the right does the ball hit the ground : A 60 g ball is tied to the end of a 50 cm --long string and swung in a vertical circle. how far to the right does the ball hit the ground
Find the magnitude of the earths velocity : The radius of the earth's very nearly circular orbit around the sun is 1.5x10^11. Find the magnitude of the earth's velocity as it travels around the sun
Perform a vertical analysis of wal-mart stores : Perform a vertical analysis of Wal-Mart Stores, Inc.'s income statements and balance sheets as of January 31, 2013. In performing this analysis,
How to use the reduction potentials for al3 : A voltaic cell consists of an Al/Al3+ half-cell and a Ag/Ag+ half-cell. Calculate Ecell when [Ag+] = 0.00665 M and [Al3+] = 0.6273 M. You should use the reduction potentials for Al3+ is -1.66 V and for Ag+ is 0.80 V.
Uncollectible accounts : Uncollectible Accounts
Explain the equilibrium constant at 25 oc for the reaction : What is the value of the equilibrium constant at 25 oC for the reaction between the pair: Mn(s) and Ag+(aq) to give Ag(s) and Mn2+(aq) Use the reduction potential values for Ag+(aq) of +0.80 V and for Mn2+(aq) of -1.18 V, E-notation with NO decima..
Calculate the moment of inertia of the cylinder : A cylinder with Radius R and mass M has a density that increases linearly with distance r from the cylinder axis, p = ar. Calculate the moment of inertia of the cylinder about a longitudinal axis through its center in terms of M and R
State what is the temperature of the water : A sealed glass jar has a small amount of water on the bottom. The rest of the volume in the jar is taken up by helium gas at a partial pressure of 526 mmHg, and water vapor. If the total pressure inside the jar is 760. mmHg, what is the temperatur..
What is the total mechanical energy of the system : A pendulum consists of a 3.1 kg stone swinging on a 4.2 m string of negligible mass. The stone has a speed of 7.9 m/s when it passes its lowest point. what is the total mechanical energy of the system

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