What was the net amount of receivables included

Assignment Help Accounting Basics

Reference no: EM131883615

Problem

John Den Bear Company had a $150,000 beginning balance in Accounts Receivable and a $6,000 credit balance in the Allowance for Doubtful Accounts. During the year, credit sales were $600,000 and customers' accounts collected were $590,000. Also, $4,000 in worthless accounts were written off.

What was the net amount of receivables included in the current assets at the end of the year, before any provision was made for doubtful accounts?

Reference no: EM131883615

Questions Cloud

What is the joes recognized gain : Joe England sold equipment on May 10, 2014 for $180,000. He bought the equipment on November 7, 2012. What is Joe's recognized gain in 204 and 2015?

What is its profit margin : A firm has assets of $1,800,000 and turns over its assets 2.5 times per year. Return on assets is 20 percent. What is its profit margin ?

How much income will joey co recognize : Joey Co. leased equipment to Legoria Co. on April 1 2017. The first of eight equal annual payments of $175,000. How much income will Joey Co. recognize in 2017?

How much will she have at the end of four years : If she has $7,000 to invest, how much will she have at the end of four years?

What was the net amount of receivables included : What was the net amount of receivables included in the current assets at the end of the year, before any provision was made for doubtful accounts?

List on the left side of a sheet of paper generally accepted : List on the left side of a sheet of paper the generally accepted auditing standards that were violated by Jones, and indicate how the actions of Jones resulted.

Think about the affordable care act : To receive healthcare benefits under your former employer's plan, you must pay the entire premium (your and the employer's portion) plus an administrative fee.

How will the court likely to rule in the given case and why : John is an art dealer with special expertise in modern art. Rachel comes to John's gallery to purchase. How will the court likely to rule in this case and why?

Explain what liability janes boyfriend has for his gf : Explain what liability Jane's boyfriend has for his girlfriend's injuries and medical bills if any.

User Account

All Pages