Business, 11.03.2022 02:20, jacky852

Bad debts analysis—Allowance account and financial statement effects The following is a portion of the current asset section of the balance sheets of HiROE Co., at December 31, 2011 and 2010:
December 31, 2011 December 31, 2010

Accounts receivable, less allowance for
uncollectible accounts of $54,000 and
$18,000, respectively 906,000 722,000
Required:
a. Describe how the allowance amount at December 31, 2011, was most likely determined.
b. If bad debts expense for 2011 totaled $48,000, what was the amount of accounts receivable written off during the year? (Hint: Use the T-account model of the Allowance account, plug in the three amounts that you know, and solve for the unknown.)
c. The December 31, 2011, Allowance account balance includes $21,000 for a past due account that is not likely to be collected. This account has not been written off. If it had been written off, what would have been the effect of the write-off on
1. Working capital at December 31, 2011?
2. Net income and ROI for the year ended December 31, 2011?
d. What do you suppose was the level of HiROE’s sales in 2011, compared to 2010? Explain your answer.
e. Calculate the ratio of the Allowance for Uncollectible Accounts balance to the Accounts Receivable balance at December 31, 2010, and 2011. What factors might have caused the change in this ratio?

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answered: Guest

the u.s. census bureau produces data on the population and economy nationwide. it can you to analyze the kind of people living in your neighborhood. it does not show you the market of people willing to buy your product or an existing market for your product. that will require more market research. the census bureau only gives you an insight to the demographics in your area.

answered: Guest

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answered: Guest

i would say a penny hope it you

answered: Guest

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

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Bad debts analysis—Allowance account and financial statement effects The following is a portion of...