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Natasha2012 [34]
3 years ago
11

Estimating Allowance for Doubtful Accounts

Business
1 answer:
sp2606 [1]3 years ago
5 0

Answer:

Allowance for doubtful accounts    $ 106106 using the aging method

Explanation:  

<u>Evers Industries </u>

<u>Estimate of Allowance for Doubtful Accounts </u>

                          Balance         Not Past    Past Due  (days)

                                                    Due          (1-30)   (31-60)   (61-90)  (Over 90)

Total

Receivables        1,124,500   607,400   233,000  121600   96500   66000

Percentage

<u>Uncollectible                            1%             3%           12%         30%      75%     </u>

Allowance for                         6074          6990      14592     28950  49500

doubtful accounts    106106

<em>We multiply each percent with the amount given and then add them all to get the total which is $106106 based on aging method.</em>

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Answer:

The correct answer is $800

Explanation:

Giving the following information:

Fulbright Corp. uses the periodic inventory system.

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· 40 units at $100

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Ending inventory= [(100 + 80 + 60)/3]*10

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In 1989, Kodak chose a(n) _____ approach to outsourcing IS activities and chose to work with suppliers like IBM, DEC and Busines
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Answer:

B, Multivendor

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During 2019, its first year of operations, Bento Steel Corporation reported a net operating loss of $500,000 for financial repor
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