I just need help calculating that last question
Net Receivables 0 |
Net income 0 |
Both net Accounts Receivable and Net income will be unaffected by write off of additional Accounts Receivable |
Write off of Accounts Receivable decreases both Allowance account and Accounts Receivable account, thereby having no effect on net Accounts Receivable |
I just need help calculating that last question Check my work 2 TravelToday, Inc..disclosed the following...
TravelToday, Inc., disclosed the following rounded amounts (in thousands) concerning the Allowance for Doubtful Accounts on its Form 10-K annual report. Allowance for Doubtful Accounts (dollars in thousands) Beginning Increases for Decreases for Ending Year Balance Bad Debt Expense Write-Offs Balance 2016 $ 8,300 $ 3,650 $ ? $ 850 2015 7,300 4,250 3,250 8,300 2014 11,800 550 5,050 7,300 Required: 1-a. Prepare a T-account for the Allowance for Doubtful Accounts and enter into it the 2014 amounts from the...
TravelToday, Inc., disclosed the following rounded amounts (in thousands) concerning the Allowance for Doubtful Accounts on its Form 10-K annual report. 1-a. Prepare a T-account for the Allowance for Doubtful Accounts and enter into it the 2014 amounts from the above schedule. The balance at the beginning of each year in the Allowance for Doubtful Accounts is a credit balance. 1-b Write the T-account in equation format to prove the above items account for the changes in the account. 2....
Travel Today, Inc., disclosed the following rounded amounts (in thousands) concerning the Allowance for Doubtful Accounts on its Form 10-K annual report. Allowance for Doubtful Accounts (dollars in thousands) Beginning Increases for Decreases for Balance Bad Debt Expense Write-offs 9,000 $ 4,000 ? 8,000 4,680 3,600 12,500 900 5,400 Year 2016 2015 2014 $ $ Ending Balance 1,200 9,000 8,000 Required: 1-a. Prepare a T-account for the Allowance for Doubtful Accounts and enter into it the 2014 amounts from the...
Thank you so much. TravelToday, Inc., disclosed the following rounded amounts (in thousands) concerning the Allowance for Doubtful Accounts on its Form 10-K annual report. Allowance for Doubtful Accounts dollars in thousands andsecreab ofs 10,0000 Beginning Balance Increases for Bad Debt Expense Decreases for Write-0ffs Ending Balance $ 1,700 Year 2016 2015 2014 $ 10,000 9,000 13,500 4,500 5,100 1,400 4,100 5,900 9,000 Required 1-a. Prepare a T-account for the Allowance for Doubtful Accounts and enter Into it the 2014...
fill out TravelToday, Inc., disclosed the following rounded amounts (in thousands) concerning the Allowance for Doubtful Accounts on its Form 10-K annual report. Allowance for Doubtful Accounts (dollars in thousands) Beginning Increases for Decreases for Balance Bad Debt Expense Write-offs 9.109 4,050 8,100 4,650 3,650 12,600 950 5,450 Year 2016 2015 2014 $ Ending Balance 1.25e 9,100 8,100 Required: 1-a. Prepare a T-account for the Allowance for Doubtful Accounts and enter into it the 2014 amounts from the above schedule....
Need help with allowamce for doubtful accounts, beginning amd ensing balance, general journal, writeoff, and net receivables and net income. TravelToday, Inc., disclosed the following rounded amounts (in thousands) concerning the Allowance for Doubtful Accounts on Its Form 10-K annual report. Year 2016 2015 2014 Allowance for Doubtful Accounts (dollars in thousands) Beginning Increases for Decreason for Balance Bad Debt Expense Write-OEEB 8,700 3,850 7,700 4,450 3,450 12,200 750 5,250 $ Ending Balance 1,050 8,700 7,700 Required: 1-a. Prepare a...
Wheelys, Inc. designs and sells footwear with a wheel in the heel, worn by sometimes-annoying kids at shopping malls. It recently disclosed the following information concerning the Allowance for Doubtful Accounts in its annual report. SCHEDULE I Valuation and Qualifying Accounts (dollars in thousands) Additions Allowance for Balance at Charged to Bad Debt Expense Write- Doubtful Beginning of Balance at End of Year Accounts Offs Year $ 0 $ 69 $189 $120 2017 2016 410 333 554 189 2015 130...
Check my workCheck My Work button is now enabled1 Item 2 Item 2 20 points Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31, the company’s fiscal year-end. The 2020 balance sheet disclosed the following: Current assets: Receivables, net of allowance for uncollectible accounts of $43,000 $ 497,000 During 2021, credit sales were $1,815,000, cash collections from customers $1,895,000, and $52,000 in accounts receivable...
I just need help with requirement three! Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31, the company's fiscal year-end. The 2020 balance sheet disclosed the following: Current assets: Receivables, net of allowance for uncollectible accounts of $30,000 $432,000 During 2021, credit sales were $1,750,000, cash collections from customers $1,830,000, and $35,000 in accounts receivable were written off. In addition, $3,000 was collected from...
Help Save & Exit Submit Check my work E6-8 (Algo) Reporting Bad Debt Expense and Accounts Receivable LO6-2 At the end of the prior year, Durney's Outdoor Outfitters reported the following information. 0:40 Accounts Receivable, Dec. 31, prior year Accounts Receivable (Gross) (A) $ Allowance for Doubtful Accounts (XA) Accounts Receivable (Net) (A) $ 48,211 39,767 During the current year, sales on account were $305,923, collections on account were $290,450, write-offs of bad debts were $7,029, and the bad debt...