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oksian1 [2.3K]
3 years ago
10

On December 31, the Accounts Receivable ending balance is $80,000. Assume that the unadjusted balance of Allowance for Uncollect

ible Accounts is a debit of $500 and that the company estimates 7% of the accounts receivable will not be collected. The amount of bad debt expense recorded on December 31 will be:
Business
1 answer:
kkurt [141]3 years ago
7 0

Answer:

$6,100

Explanation:

Calculation to determine what The amount of bad debt expense recorded on December 31 will be:

Using this formula

Bad debt expense=(Estimated % of accounts receivable*Accounts Receivable ending +balance)+Unadjusted balance of Allowance for Uncollectible Accounts

Let plug in the formula

Bad debt expense=(7%*$80,000)+$500

Bad debt expense=$5,600+$500

Bad debt expense=$6,100

Therefore The amount of bad debt expense recorded on December 31 will be:$6,100

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Answer:

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Now the account balance = Current margin balance - Loss for 10 contracts

The account balance = 28,000 - 1,700

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3 years ago
The following information pertains to Havana Corporation's defined benefit pension plan: ($ in 000s) 2018 2019 Beginning balance
Hitman42 [59]

$504000 is the actual return

<u>Explanation:</u>

particulars                           calculation Amount

Service cost                                         700000

Interest cost                     600000 * 8 \%        480000

Less: Expected return 10 \% * 5760000    576000

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<u>The computation is as follows for the calculation of return (in $000’s) </u>

<u>Plan assets </u>

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Tcecarenko [31]
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