Answer:
d. $1050.
Explanation:
We multiply each account balance by the expected uncollectible amount and then addd them to get the expected total for doutful accounts
![\left[\begin{array}{cccc}Date&Amount&Expected&uncollectible\\$not due&10000&0.02&200\\$up to 30&5000&0.05&250\\$up to 60&3000&0.1&300\\$more than 61&800&0.5&400\\&&Total&1150\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7DDate%26Amount%26Expected%26uncollectible%5C%5C%24not%20due%2610000%260.02%26200%5C%5C%24up%20to%2030%265000%260.05%26250%5C%5C%24up%20to%2060%263000%260.1%26300%5C%5C%24more%20than%2061%26800%260.5%26400%5C%5C%26%26Total%261150%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Balance of the allowance account: 100
The expense will be the adjustment made on the allowance to get the expected balance of 1,150
1,150 - 100 = 1,050
we increase the allowance bu 1,050 to get our expected uncollectible fro maccounts receivable agaisnt the bad debt expense ofthe period.
Answer:
A firm must be effectively organized to capture value. A firm has to ensure it has a properly ongoing work system where everything balances. Proper marketing and advert, viability in product quality, organized administrative and technical structuring, analysis on probable customer base etc., these and many more factors have to be critically looked into and worked on to gain competitive advantage. What is the competition doing right that we are missing? who are our competition? Why are they the peoples favorite? How can we become the peoples favorite? Questions of these sort if worked on and implemented, will facilitate effective organizational growth.
Answer:
Balance of Stockholder's Equity at December 31 is $1,910,000.
Explanation:
This will appear as follows
Idaho Company
<u>Details $ </u>
Stockholder's Equity:
Common Stock 525,000
Preferred Stock 500,000
Additional Paid-In Cap. - Common Stock 625,000
Additional Paid-In Cap. - Preferred Stock 50,000
Treasury Stock (40,000
)
Retained Earnings <u> 250,000 </u>
Balance at December 31 <u> 1,910,000 </u>
Answer:
[(Accounts receivable at the beginning of the year + $138,000) - $144,000] - cash realizable value at the beginning of the year
Explanation: The question is incomplete but just apply the missing figures: [(Accounts receivable at the beginning of the year + Sales on account - Collections on account - write off) - bad debt] - cash realizable value at the beginning of the year
[(Accounts receivable at the beginning of the year + $390,000 - $230,000 - $22,000) - $144,000] - cash realizable value at the beginning of the year
