For each of the following scenarios, indicate the amount of the adjusting journal entry for Bad Debt expense to be recorded, the balance in Allowance for Doubtful Accounts after adjustment at December 31, and the net realizable value of Accounts Receivable at December 31. a. Based on an analysis of Simmon's Company's $380,000 balance in Accounts Receivable at December 31, it was estimated that $15,500 will be uncollectible. There is a credit balance of $1,200 in Allowance for Doubtful Accounts before adjustment. Bad Debt Expense $ Allowance for Doubtful Accounts at Dec. 31 Net Realizable Value of A/R at Dec. 31 b. Blake Company had credit sales of $900,000 at year-end, and has an Accounts Receivable balance of $425,000 at December 31, and an Allowance for Doubtful Accounts credit balance of $11,000 before adjustment. Blake estimates bad debt expense as 3/4 of 1% of credit sales. Bad Debt Expense $ 6,750 Allowance for Doubtful Accounts at Dec. 31 17,750 Net Realizable Value of A/R at Dec. 31 407,250 c. Hidgon Inc. has a balance of $812,000 in Accounts Receivable at December 31. An analysis of those receivables shows $24,000 will probably not be collected. Before adjusting entries are prepared, the Allowance for Doubtful Accounts has a debit balance of $750. Bad Debt Expense $ Allowance for Doubtful Accounts at Dec. 31 Net Realizable Value of A/R at Dec. 31
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Business, 22.06.2019 11:10, henryzx900
How much are you willing to pay for a zero that matures in 10 years, has a face value of $1,000 and your required rate of return is 7%? round to the nearest cent. do not include a dollar sign in your answer. (i. e. if your answer is $432.51, then type 432.51 without $ sign)
Answers: 1
Business, 22.06.2019 17:10, lerasteidl
To : of $25 up to 35 2 35 up to 45 5 45 up to 55 7 55 up to 65 20 65 up to 75 16 is$25 up to $35 ?
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Business, 22.06.2019 23:30, cici170
Miller company’s most recent contribution format income statement is shown below: total per unit sales (20,000 units) $300,000 $15.00 variable expenses 180,000 9.00 contribution margin 120,000 $6.00 fixed expenses 70,000 net operating income $ 50,000 required: prepare a new contribution format income statement under each of the following conditions (consider each case independently): (do not round intermediate calculations. round your "per unit" answers to 2 decimal places.) 1. the number of units sold increases by 15%.
Answers: 1
For each of the following scenarios, indicate the amount of the adjusting journal entry for Bad Debt...
Mathematics, 26.03.2020 22:46
Mathematics, 26.03.2020 22:46
Chemistry, 26.03.2020 22:47