Once water has been restored after water service interruption, an operation should

Arundel Company uses percentage of sales to estimate uncollectibles. At the end of the fiscal year, December 31, 2018, Accounts

oksano4ka [1.4K]

Answer:

The dollar amount that should be credited to Allowance for Uncollectible Accounts at year end is $ 12,100

Explanation:

Providing allowance for doubtful debts

A provision is made for the debts which are likely to be uncollectable by a company.This amount is used to adjast the Trade Receivable balances to show a faithful representation of assets a beusiness has at end of year.

Calculations

December 31, 2018 Arundel Company`s Allowance for Doubtful debts is calculated as follows

Credit Sales × % of allowed provision

$805,000 × 2.0%

$16,100

Adjastment to be done in Allowance for Doubtful Debts Account:

Hint : Open Allowance for Doubtful Debts T Account:

Credits :

Opening Balances 4,000

Balancing Figure (Profit and Loss) 12,100

Totals 16,100

Debit:

Closing Balance 16,100

Totals 16,100

5 0

3 years ago

Read 2 more answers

Flint Company’s unadjusted trial balance at December 31, 2020, included the following accounts. Debit Credit Accounts receivable

sweet [91]

Answer:

Bad debt expense for 2020 is - $ 2,234

Explanation:

Adjustment to the Allowance for Doubtful Debts (Increase or Decrease) are recorded in the Income Statement as part of Bad Debts Expenses as follows;

Increase in Allowance for Doubtful debts = Increases the Bad Debts Expense

Decrease in Allowance for Doubtful debts = Decreases the Bad Debts Expense

During the Period Allowances for Doubtful Debts are calculated as :

Allowances for Doubtful Debts = $53,600 × 6%

= $ 3,216

Bad Debt Expense = $ 3,216-$5,450

= - $ 2,234

3 0

3 years ago

Relationship-specific adaptations are usually not required when the buying organization uses outsourcing.

vredina [299]

Relationship-specific adaptations are usually not required when the buying organization uses outsourcing.

False

4 0

4 years ago

On January 4, Childers Corporation issued $200 million of bonds for $193 million. During the same year, $500,000 of the bond dis

Allushta [10]

B. A negative adjustment and amount

4 0

3 years ago

In the bottom of the 9th inning in a tie game, the leadoff batter for the home team hits a double. According to researcher Tom T

den301095 [7]

Answer:

0.881

Explanation:

The minimum probability of a successful bunt that would warrant using the bunt is that probability that, at least, does not decrease the probability of winning after the batter hit the double: 0.807.

Call p the probability of a succesful sacrifice bunt.

Using a probability tree diagram:

successful sacrifice bunt: p

- win: 0.830

- loose: 0.17

unsucessful sacfifice bunt: ( 1 - p)

- win: 0.637

- loose: 0.363

From that, the probability of winning is 0.830(p) + 0.637(1 - p)

You want to determine p, such that 0.830(p) + 0.637(1 - p) ≥ 0.807

Solve for p:

0.830p + 0.637 - 0.637p ≥ 0.807

0.193p ≥ 0.170

p ≥ 0.8808

Rounding to thousandths, the minimum probability of a succesful bunt that would warrant using the bunt is 0.881.

4 0

4 years ago

Once water has been restored after water service​ interruption, an operation should

Once water has been restored after water service interruption, an operation should