Solution:
Listel | ||
Balance Sheet (Partial) | ||
As of March 31, 2020 | ||
Particulars | Amount | |
Current Assets: | ||
Cash | $20,350.00 | |
Accounts receivables , Gross | $117,000.00 | |
Less: allowance for doubtful accounts | $2,490.00 | |
Accounts receivables , net | $114,510.00 | |
Merchandise inventory | $89,000.00 | |
Note receivables | $15,700.00 | |
Supplies | $5,750.00 | |
Total current assets | $245,310.00 |
Below are the alphabetized list of adjusted account balances. Account Accounts receivable Accumulated depreciation, building Allowance...
QS 8-4 Balance sheet presentation L02 From the following alphabetized list of adjusted account balances, prepare the current asset section of Biotech's De Account Accounts receivable.. Allowance for doubtful accounts... Bad debt expense.. Cash..... Machinery.... Office supplies... Prepaid insurance... Debit Credit 29,000 1,300 800 10,000 52.000 400 950
The following alphabetized list of selected adjusted account balances is from the records of Jasper Company on December 31, 2020 ped Accounts Payable Accumulated Depreciation Equipment Estimated Warranty Liability GST Payable Mortgage Payable, $44,000 due Dec 31, 2021 Notes Payable, due April 1, 2021 Notes Payable, due April 1, 2024 PST Payable Warranty Expense $ 80,00 55.000 17,400 10,70 379, eee 16,700 12 8.580 20.20 renons Required: Prepare the current liability section of Jasper Company's 2020 balance sheet.
From the following list of adjusted account balances, prepare the current asset section of Denfield's Hardscaping for December 31, 2017. Assume all accounts have normal balances. 5 (Click the icon to view the adjusted balances.) Prepare the current asset section of the balance sheet for Denfield's Hardscaping for December 31, 2017 i Data Table Denfield's Hardscaping Partial Balance Sheet December 31, 2017 Assets $ LOSS: Accounts receivable Bad debt expense Notes receivable, due August 31, 2018 Supplies Note receivable, due...
for Doubtful Accounts account. The accounts receivable T-account consisted of $370,000 in debit balances and 55,100 in credit balances. The company aged its accounts as follows: Current 1303,000 0-60 days past due 42.000 61-180 days past due 17.000 Over 100 days past due 8.000 5370,000 in the past, the company has experienced credit losses as follows: 1% of current balances, 5 of balances 0-60 days past due, 15% of balances 61-180 days past due, and 40% of balances over six...
Sheridan Company had the following balances in receivable accounts at October 31, 2022 (in thousands): Allowance for Doubtful Accounts $51, Accounts Receivable $3,122, Other Receivables $187, and Notes Receivable $1,418. Prepare the balance sheet presentation of Sheridan Company's receivables in good form. SHERIDAN COMPANY Balance Sheet (Partial) (in thousands)
Sheridan Company had the following balances in receivable accounts at October 31, 2022 (in thousands): Allowance for Doubtful Accounts $55, Accounts Receivable $2,948, Other Receivables $179, and Notes Receivable $1,379. Prepare the balance sheet presentation of Sheridan Company's receivables in good form. SHERIDAN COMPANY Balance Sheet (Partial) (in thousands)
Sheffield's Corp.'s account balances at December 31, 2020 for Accounts Receivable and be related Allowance for Doubtful Accounts are $917,000 debit and $2,000 credit, respectively. From an aging of accounts receivable, it is estimated that $37,900 of the December 31 receivables will be uncollectible. The necessary adjusting entry would include a credit to the allowance account for A. $39,900 B. $35,900 C. $2,000 D. $37,900
Nash Corp. had the following balances in receivable accounts at October 31, 2020 (in thousands): Allowance for Doubtful Accounts $50, Accounts Receivable $2,800, Other Receivables $180, and Notes Receivable $1,350. Prepare the balance sheet presentation of Nash Corp.’s receivables in good form.
The following account balances come from the records of Ourso Company: Accounts receivable Allowance for doubtful accounts Beginning Balance $3,133 102 Ending Balance $3,906 188 During the accounting period, Ourso recorded $11,450 of sales revenue on account. The company also wrote off a $188 account receivable Required a. Determine the amount of cash collected from receivables. Collections of accounts receivable b. Determine the amount of uncollectible accounts expense recognized during the period. Uncollectible accounts expense
At the beginning of the current period, Tamarisk Corp. had balances in Accounts Receivable of $202,700 and in Allowance for Doubtful Accounts of $9,820 (credit). During the period, it had net credit sales of $880,000 and collections of $706,410. It wrote off as uncollectible accounts receivab $7,172. However, a $3,100 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $25,010 at the end of the period. (Omit cost...