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dem82 [27]
3 years ago
12

Start with the beginning balances for these​ T-accounts: Accounts​ Receivable, $100,000​, Allowance for Uncollectible​ Accounts,

$14,000. Post the following 2018 transactions to the​ T-accounts: a. Service revenue of $697,000​, all on account b. Collections on​ account, $714,000 c. ​Write-offs of uncollectible​ accounts, $8,000 d. ​Uncollectible-account expense​ (allowance method), $11,000. What are the ending balances of Accounts Receivable and Allowance for Uncollectible​ Accounts?
Business
1 answer:
iren [92.7K]3 years ago
7 0

Answer:

T-accounts:

The ending balances of Accounts Receivable and Allowance for Uncollectible​ Accounts are:

Accounts Receivable = $75,000

and

Allowance for Uncollectible Accounts = $17,000

Explanation:

Accounts Receivable

Accounts Title           Debit       Credit

Balance                  $100,000

Service Revenue    697,000

Cash                                         $714,000

Uncollectible written off             $8,000

Balance                                     $75,000

Allowance for Uncollectible Accounts

Accounts Title                   Debit       Credit

Balance                                            $14,000

Uncollectible written off $8,000

Uncollectible Expense                      11,000

Balance                            17,000

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Answer:

$ 2,100.00 F

Explanation:

Preparation of the report showing the company's revenue and spending variances for August.

QUILCENE OYSTERIA

REVENUE AND SPENDING VARIANCES

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Find the difference in height between the top of a hill 973 feet high and a crack caused by an earthquake 79 feet below sea leve
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3 years ago
During the​ year, direct labor costs of​ $30,000 were​ incurred, manufacturing overhead totaled ​$42,000, materials purchased we
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Answer:

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Explanation:

Total manufacturing cost include all the costs related directly to the production, and does not include any indirect costs, or cost of selling and administration.

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gayaneshka [121]

Answer:

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c. Compute the cash collections from sales for each month from January through March.

Note: See the attached excel file for the schedule of cash collections from sales for each month from January through March.

From the attached excel file, total cash collections are as follows:

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Download xlsx
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