Business
Business, 31.07.2020 15:01, aliviafrancois2000

Facial cosmetics provides plastic surgery primarily to hide the appearance of the appearance of unwanted scars and other blemishes. During 2018 the company provides services of $400,000 on account. Of this amount $50,000 remains uncollected at the end of the year. An aging schedule as a December 31, 2018 is provided below: Age Group
Not Yet Due 30000 2%
0-30 days past due 10000 5%
31-60 days past due 7000 10%
More than 60 days pst due 3000 20%
Total 50000
1) Calculate the allowance for uncollectible accounts
2) Record the December 31, 2018 adjusting entry assuming the balances of the allowance account before adjusting entries is $300 (debit)
3) On April 3 2019 a customers account balance of $400 is written off as uncollectible. Record the write off.
4) On July 17 2019 the customer whose account was written off in # 3 unexpectedly pays $100 of the amount but does not expect to pay any additional amounts. Record the cash collection.

answer
Answers: 2

Other questions on the subject: Business

image
Business, 22.06.2019 00:30, 01222002
Salty sensations snacks company manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. the company has budgeted the following costs for the upcoming period: 1 factory depreciation $33,782.00 2 indirect labor 84,456.00 3 factory electricity 8,446.00 4 indirect materials 40,356.00 5 selling expenses 26,900.00 6 administrative expenses 17,200.00 7 total costs $211,140.00 factory overhead is allocated to the three products on the basis of processing hours. the products had the following production budget and processing hours per case: budgeted volume (cases) processing hours per case tortilla chips 3,600 0.25 potato chips 5,300 0.11 pretzels 2,300 0.49 total 11,200 required: a. determine the single plantwide factory overhead rate.* b. use the factory overhead rate in (a) to determine the amount of total and per-case factory overhead allocated to each of the three products under generally accepted accounting principles. refer to the amount descriptions list provided for the exact wording of the answer choices for text entries.* * if required, round your answers to the nearest cen
Answers: 1
image
Business, 22.06.2019 02:30, raulramirez01
Acompany factory is considered which type of resource a. land b. physical capital c. labor d. human capital
Answers: 2
image
Business, 22.06.2019 07:00, glizbethh00
What is the state tax rate for a resident of arizona whose annual taxable income is $18,000?
Answers: 1
image
Business, 22.06.2019 11:30, fjjjjczar8890
Which of the following statements about cash basis accounting is true? a. it is more complicated than accrual basis accounting. b. the irs allows all types of corporations to use it. c. it follows gaap standards. d. it ensures the company always knows how much cash flow it has.
Answers: 2
Do you know the correct answer?
Facial cosmetics provides plastic surgery primarily to hide the appearance of the appearance of unwa...

Questions in other subjects:

Konu
English, 09.02.2021 21:50
Konu
Mathematics, 09.02.2021 21:50