Accounting adjustment, Financial Accounting

Assignment Help:

In February, one of Team Shirts' best customers went bankrupt owing team shirts $85. Team shirts uses the sales method for estimating bad debts. February sales were $15,000. The accountant has been using 3% of sales as the estimated bad debts percentage. Before adjustment and the write- off, the balance in the allowance for uncollectable accounts was $(100). After the write- off and adjustment, the balance in the allowance for uncollectible accounts should be:

A. $365

B. $450

C. $465

D. $550


Related Discussions:- Accounting adjustment

Calculation of profitability ratios, Calculation of Profitability ratios  ...

Calculation of Profitability ratios  -                     2008 2009 2010 G Net Sal

Determine the net present value - cost of capital, What is the net present...

What is the net present value of a project that requires a net investment of $76,000 and produces net cash flows of $22,000 per year for 7 years? Assume the cost of capital is 15 p

AFM, I need help with assignment completeion

I need help with assignment completeion

Generates the state dependent cash flows, Consider an economy with three st...

Consider an economy with three states which occur with probability (0.2, 0.4, 0.4). Suppose a firm has a project which generates the state dependent cash flows (100, 200, 200) at t

Managerial uses of the primary ratio, The return on investment has been apt...

The return on investment has been aptly about as a primary ratio as it gives the relative net profit earned on the capital utilized. It is one particular measure where the last out

Executive, Ask question #EM201683STE718FACMinimum 100 words accepted#

Ask question #EM201683STE718FACMinimum 100 words accepted#

Write Your Message!

Captcha
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!

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