Business, 17.07.2019 19:20, ftshaechan

The accounts receivable balance for renue spa at december 31, 2017, was $61,000. also on that date, the balance in the allowance for doubtful accounts was $3,750. during 2018, $2,100 of accounts receivable were written off as uncollectible. in addition, renue unexpectedly collected $500 of receivables that had been written off in a previous accounting period. services provided on account during 2018 were $215,000, and cash collections from receivables were $218,000. uncollectible accounts expense was estimated to be 2 percent of the sales on account for the period. required organize the information in accounts under an accounting equation. based on the preceding information, compute (after year-end adjustment): (1) balance of allowance for doubtful accounts at december 31, 2018. (2) balance of accounts receivable at december 31, 2018. (3) net realizable value of accounts receivable at december 31, 2018. what amount of uncollectible accounts expense will renue spa for 2018?

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 12:50, emarquez05

Two products, qi and vh, emerge from a joint process. product qi has been allocated $34,300 of the total joint costs of $55,000. a total of 2,900 units of product qi are produced from the joint process. product qi can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,900 and then sold for $13 per unit. if product qi is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point?

Answers: 2

continue

Business, 22.06.2019 21:40, goku4420

Inventory by three methods; cost of goods sold the units of an item available for sale during the year were as follows: jan. 1 inventory 20 units at $1,800 may 15 purchase 31 units at $1,950 aug. 7 purchase 13 units at $2,040 nov. 20 purchase 16 units at $2,100 there are 18 units of the item in the physical inventory at december 31. determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: round your final answers to the nearest dollar. cost inventory method ending inventory cost of goods sold a. first-in, first-out method $ $ b. last-in, first-out method $ $ c. weighted average cost method $ $

Answers: 3

continue

Business, 22.06.2019 23:50, kaylinreed7

Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours. required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)

Answers: 2

continue

Business, 23.06.2019 17:30, ghari112345

When signing a lease for a retail space, it's important to make sure the lease has a clause, which releases the tenant from the lease if sales don't reach an agreed-upon amount.

Answers: 1

continue

Do you know the correct answer?

The accounts receivable balance for renue spa at december 31, 2017, was $61,000. also on that date,...