1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alenkasestr [34]
3 years ago
13

Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $440,000; Allowance for Doub

tful Accounts has a credit balance of $4,000; and sales for the year total $1,980,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $14,800.
Required:
a. Determine the amount of the adjusting entry for uncollectible accounts.
b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.
c. Determine the net realizable value of accounts receivable.
Business
1 answer:
lina2011 [118]3 years ago
6 0

Answer: See explanation

Explanation:

a. The amount of the adjusting entry for uncollectible accounts will be:

= Estimated balance required in Allowance account - Unadjusted balance existing in Allowance account

= $14800 - $4000

= $10800

b. The adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense will be:

Account receivables = $440,000

Allowance for Doubtful accounts = $14,800

Bad Debt expense = $10800

c. The net realizable value of accounts receivable will be:

= Account receivables - Allowance for Doubtful accounts

= $440,000 - $14800

= $425200

You might be interested in
Charlotte is trying to measure her salon's productivity during the first quarter. For this period, she should divide ________ by
IRISSAK [1]

Answer:

the total salon services and products sold

Explanation:

Productivity can be regarded as ratio of output volume to that of the volume of inputs. It give the measurements of

production inputs efficiency, these input could be labour, capital. Productivity helps to know how these inputs are been used in production of given level of output in economy.

7 0
3 years ago
Environmental scanning is the act of analyzing the critical external contingencies and trends facing an organization in terms of
alekssr [168]

Answer:

The correct answer is the option B: economic conditions, competitors and customers.

Explanation:

To begin with, the term of <em>environmental scanning</em> refers to the action of analyzing the forces, both internal and external, whose actions affect the organization in its whole and may give the company opportunities or threats, sthrengths or weaknesses. Moreover, when refering to the external part of the analysis the most important groups to have in mind are those outside the organization and that it may not take control over decisions directly. Those items or groups are: <u>the competitors, the customers, economic conditions</u>, the government, market suppliers, intermediaries and more.

5 0
4 years ago
ASK ME WEIRD QUESTIONS QUICK
Pachacha [2.7K]

Answer:

hop off brainly cuz

Explanation:

4 0
4 years ago
Read 2 more answers
Marquis Company estimates that annual manufacturing overhead costs will be $900,000. Estimated annual operating activity bases a
polet [3.4K]
....y...........d........ask....d.........d.......................uhhayhaysgsvdbshsjsjsjskkwowueydbdnfndjjdidjdfrrthuuuuytrrrrrrffftytttujmmmppp
7 0
3 years ago
What are the three principal forms of business organization? what are three advantages and disadvantages of each?
Soloha48 [4]
<span>The three principla forms of business organization are corporations, proprietorship and partnerships. Corporations have certain advantages like indefinite life, limited liability and eas of ownership transfers as well as easy access to capital markets. Corporations also have disadvantages like their earnings are subjected to double taxes, they must file federal reports for registration and state reports as well which are incredibly time consuiming and difficult. Proprietorships are unincorporated businesses that are owned by a single person. This single person is responsible for bearing all the losses as well as managing all the business, but they also get to take all the profits. This type of business is easy and cheap to form and has few federal regulatiosn. The income from it is not subjected to corporate tax but on personal taxes. It is harder to raise capital for this type of business, and the life of the business is limited to the life of the founder. Finally, partnerships are two or more people running and managing a business where the goal is to turn a profit. It sadvantages are that it is easy and inexpensive to buil, has few government regulations, and the income is only taxable at the partners personal level, not as a corporate tax rate. The disadvantages are that there is an unlimited liability to the partners and they are responsible for the extent of the business, it is difficult to transfer ownership and all partners must always agree on how they ahndle their interests as well as growth and raising capital.</span>
6 0
3 years ago
Other questions:
  • Tim and Mike work for a broker who tells them to call their clients and inform them whenever their investments gain or lose 3% o
    5·1 answer
  • "Keeping track of securities owners for payment of interest or dividends is usually done by the company's"1. Treasure2. Broker3.
    14·1 answer
  • "Probably the most fertile areas for career opportunities today can be found in the investments and financial markets fields. "
    8·1 answer
  • Which of the following statements is TRUE? Economists normally assume that the goal of the firm is to: I. sell as much of their
    7·2 answers
  • In the long run, money demand and money supply determine
    10·1 answer
  • Which option would you select to control being linked to other people's posts?
    12·1 answer
  • Truball Inc., which manufactures sports equipment, consists of several operating divisions. Division A has decided to go outside
    12·1 answer
  • Erin was a ski instructor in the winter. once the ski season was over, erin's job no longer existed. so now she is actively look
    5·2 answers
  • A simple random sample of 60 items resulted in a sample mean of 76. The population standard deviation is 14.
    15·1 answer
  • Which country in the middle east has the most crude oil?.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!