User Account

All Pages

What is bad debt expense for the given year

Assignment Help Accounting Basics
Reference no: EM132753136

Question: Marigold Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $33,509. During 2020 m, it wrote off $21,700 of accounts and collected $6,180 on accounts previously written off. The balance in accounts Receivable was $630,000 at 1/1 and $740,000 at 12/31. At 12/31/20, Marigold estimates that 7% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2020?

Reference no: EM132753136

Questions Cloud

Would your choice be the same if prices are falling : Assume that you are the president of your company and paid a year end bonus according to the amount of net income earned during the year.
Determine the size of the two replacement payments : Determine the size of the two replacement payments if interest is 5.4% compounded semi-annually and the focal date is two years from now
Calculate present value of all future tax shields for abc co : ABC Corp is expected to have free cash flows of $120 million. Calculate the present value of all future tax shields for ABC corp.
Milestone one check-in journal assignment : In this Milestone One check-in journal assignment, you will submit a reflection of the status of your final project.
What is bad debt expense for the given year : Marigold Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $33,509. During 2020 m, it wrote off $21,700 of accounts and collected.
Evaluate opportunities for collaborative alliances : Identify and evaluate opportunities for collaborative alliances according to organizational and program objectives. evaluate potential collaborators in line
Computerized system differ from the normal system : Justify the appropriate chi-square test to determine whether the error percentages for the computerized system differ from the normal system.
Compute the equation of total cost : Investigations of the client firm's cost profile shows that marginal cost (MC) is given by: MC = Q2 - 28Q + 211. Compute the equation of total cost
How would evaluate potential collaborators : Explain three different analysis tools that can be used in understanding the business and non-business environment. How would evaluate potential collaborators?

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