User Account

All Pages

What will be the dollar balances in the allowance

Assignment Help Financial Accounting
Reference no: EM132796249

Question - Arundel Company uses aging to estimate uncollectibles.  At the end of the fiscal year, December 31, 2018, Accounts Receivable has a balance that consists of:

Dollar Value Age of Account Estimated Collectible

$275,000 < 30 days old 98.0%

75,000 30 to 60 days old 92.0%

30,000 61 to 120 days old 76.0%

5,000 > 120 days old 15.0%

The current unadjusted Allowance for Uncollectible Accounts balance is a debit balance of $2,000 and the Bad Debt Expense accounts has an unadjusted balance of zero. After the adjusting entry is made, what will be the dollar balances in the Allowance for Doubtful Accounts? Round to nearest whole dollar.

Reference no: EM132796249

Questions Cloud

Current and obvious growth of apple and samsung : Nokia's market share was very high compared to Apple and Samsung. Looking at the market share now and the current and obvious growth of apple and Samsung.
What xyz receivables turnover ratio is : What XYZ's 2018 receivables turnover ratio is? XYZ company presented the following financial information for December 31, 2018 and 2017.
Describe the relationship between identity and the self : How does Sokefeld theorize the relationship between identity, culture, and the self? And, how does the idea of the culture as theorized by Sokefeld differ.
Why is power important to negotiators : 1. Why is power important to negotiators? 2. What are some methods in dealing with those that have more power in the negotiation?
What will be the dollar balances in the allowance : After the adjusting entry is made, what will be the dollar balances in the Allowance for Doubtful Accounts? Round to nearest whole dollar
Identify the types of meetings : Demonstrate your skills in preparing then Chairing two meetings. You will be observed by your Assessor in these meetings.
Describe two advantages of employee engagement : Describe two advantages of employee engagement and share an example of where you have seen or experienced employee engagement in action.
What amount should crane report as proceeds from issuance : In its statement of cash flows for the year ended December 31, 2021, what amount should Crane report as proceeds from issuance of bonds payable?
What type of research method was used : Read the "Social Communication Deficits in Conduct Disorder: A Clinical and Community Survey" article in the required readings. What type of research method.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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