Sather ltd. had the following unadjusted account balances at dec. 31, 2019: a/r allowance for doubtful accounts sales required 1. assume that slather ltd. estimated its uncollectible accounts at dec. 31., 2019 to be 2% of sales a. prepare the appropriate adjusting entry to record the estimated uncollectible accounts at dec. 31, 2019 b. calculate the balance in the allowance for doubtful accounts account after posting the adjusting entry 2. assume that sather ltd. estimated its uncollectible accounts at dec. 31, 2019 to be 10% of the net a/r balance a. prepare the appropriate adjusting entry to record the estimated uncollectible accounts at dec. 31, 2019 b. calculate the balance in the ada account after posting the adjusting entry why is there a difference in the calculated estimates of doubtful accounts in questions 1 & 2?
Answers: 1
Other questions on the subject: Business
Business, 21.06.2019 21:10, HannahVance99
Of the roles commonly found in the development, maintenance, and compliance efforts related to a policy and standards library, which of the following has the responsibilities of directing policies and procedures designed to protect information resources, identifying vulnerabilities, and developing a security awareness program?
Answers: 3
Business, 21.06.2019 23:30, brittd2728
Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable
Answers: 3
Business, 22.06.2019 08:30, dezmondpowell
Which of the following is an example of search costs? a.) driving to a faraway place to find available goods b.) buying goods in some special way that is outside the normal channels c.) paying a premium cost for goods d.) selling extra goods for a discount price
Answers: 1
Business, 22.06.2019 11:30, kimjp56io5
Amano s preguntes cationing to come fonds and consumer good 8. why did the u. s. government use rationing for some foods and consumer goods during world war ii?
Answers: 1
Do you know the correct answer?
Sather ltd. had the following unadjusted account balances at dec. 31, 2019: a/r allowance for doubt...
Questions in other subjects:
Spanish, 26.03.2020 03:26
Mathematics, 26.03.2020 03:26
Health, 26.03.2020 03:26
