Answer correct please last attempt
Homework Answers
Calculate net income (loss) after these transaction
| Net (loss) | -81600 |
| Bad debt expense | -51100 |
| Net income (loss) | -132700 |
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Answer correct please last attempt
Application Problem 6-13A Johnstone Inc. had a net loss of $81,600...
Application Problem 6-13A Johnstone Inc. had a net loss of $92,400 prior to the following transactions:...
Application Problem 6-13A Johnstone Inc. had a net loss of $92,400 prior to the following transactions: • • • The company wrote off accounts of customers owing $33,600. The company recovered $8,800 in receivables from customers whose accounts had previously been written off. The company recorded bad debts expense of $46,400 based on an aging of its receivables. What would Johnstone's net income (or loss) be after these transactions? (Enter loss using either a negative sign preceding the number e.g....
Application Problem 6-13A Johnstone Inc. had a net loss of $84,600 prior to the following transactions:...
Application Problem 6-13A Johnstone Inc. had a net loss of $84,600 prior to the following transactions: • • • The company wrote off accounts of customers owing $35,500. The company recovered $8,800 in receivables from customers whose accounts had previously been written off. The company recorded bad debts expense of $46,500 based on an aging of its receivables. What would Johnstone's net income (or loss) be after these transactions? (Enter loss using either a negative sign preceding the number e.g....
Please try to show as many steps as possible. Thank you. Johnstone Inc. had a net loss of $89,300 prior to the followin...
Please try to show as many steps as possible. Thank you.
Johnstone Inc. had a net loss of $89,300 prior to the following transactions: • . The company wrote off accounts of customers owing $35,500. The company recovered $8,300 in receivables from customers whose accounts had previously been written off. The company recorded bad debts expense of $49,200 based on an aging of its receivables. What would Johnstone's net income (or loss) be after these transactions? (Enter loss using either...
Answer the following ( LAST ATTEMPT SO KINDLY ANSWER CORRECT PLEASE Answer the ticked boxes Application...
Answer the following ( LAST ATTEMPT SO KINDLY ANSWER CORRECT
PLEASE
Answer the ticked boxes
Application Problem 6-5B a-c Majestic Equipment Sales Company, which sells only on account, had a $132,000 balance in its Accounts Receivable and a $6,000 credit balance in its Allowance for Doubtful Accounts on December 31, 2019. During 2020, the company's sales of equipment were $826,000 and its total cash collections from customers were $782,000. During the year, the company concluded that customers with accounts totalling...
Step wise last attempt please Application Problem 6-5B a-c Majestic Equipment Sales Company, which sells only...
Step wise last attempt please
Application Problem 6-5B a-c Majestic Equipment Sales Company, which sells only on account, had a $132,000 balance in its Accounts Receivable and a $6,000 credit balance in its Allowance for Doubtful Accounts on December 31, 2019. During 2020, the company's sales of equipment were $826,000 and its total cash collections from customers were $782,000. During the year, the company concluded that customers with accounts totalling $8,000 would be unable to pay, and wrote these receivables...
Application Problem 6-5B a-c Majestic Equipment Sales Company, which sells only on account, had a $129,000...
Application Problem 6-5B a-c Majestic Equipment Sales Company, which sells only on account, had a $129,000 balance in its Accounts Receivable and a $4,300 credit balance in its Allowance for Doubtful Accounts on December 31, 2019. During 2020, the company's sales of equipment were 5827,000 and its total cash collections from customers were $798,000. During the year, the company conduded that customers with accounts totalling $7,600 would be unable to pay, and wrote these receivables off. However, one of these...
PRINTER VERSION BACK NEXT Application Problem 6-5B a-c Majestic Equipment Sales Company, which sells only on...
PRINTER VERSION BACK NEXT Application Problem 6-5B a-c Majestic Equipment Sales Company, which sells only on account, had a $128,000 balance in its Accounts Receivable and a $4,500 credit balance in its Allowance for Doubtful Accounts on December 31, 2019. During 2020, the company's sales of equipment were $821,000 and its total cash collections from customers were $796,000. During the year, the company concluded that customers with accounts totalling $6,000 would be unable to pay, and wrote these receivables off....
Treat the following parts as three independent situations. Part 1 of 3 Lynbrook Automotive, Inc. applies...
Treat the following parts as three independent situations. Part 1 of 3 Lynbrook Automotive, Inc. applies the allowance method to record transactions relating to their accounts receivables. On December 31, 2019, the company had a debit balance of $700,000 in Accounts Receivable and a credit balance of $20,000 in their Allowance for Doubtful Accounts. During 2020, the company completed a number of transactions involving credit sales, accounts receivable collections, and bad debts. These transactions are summarized as follows: a) Provided...
Please answer D (last picture) At December 31, 2017, Runner Imports Inc. reported this information on...
Please answer D (last picture)
At December 31, 2017, Runner Imports Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $637,000 39,000 During 2018, the company had the following summary transactions related to receivables and sales. Runner uses the perpetual inventory system. 1. Sales on account amounted to $2,544,000. The cost of the inventory sold was $2,213,280. 2. Sales returns and allowances with a total sales price of $43,000 and a cost of $37,410...
Majestic Equipment Sales Company, which sells only on account, had a $136,000 balance in its Accounts...
Majestic Equipment Sales Company, which sells only on account,
had a $136,000 balance in its Accounts Receivable and a $5,700
credit balance in its Allowance for Doubtful Accounts on December
31, 2019. During 2020, the company's sales of equipment were
$836,000 and its total cash collections from customers were
$791,000.
During the year, the company concluded that customers with accounts
totalling $6,500 would be unable to pay, and wrote these
receivables off. However, one of these customers subsequently made
a...
Application Problem 6-13A Johnstone Inc. had a net loss of $92,400 prior to the following transactions: • • • The company wrote off accounts of customers owing $33,600. The company recovered $8,800 in receivables from customers whose accounts had previously been written off. The company recorded bad debts expense of $46,400 based on an aging of its receivables. What would Johnstone's net income (or loss) be after these transactions? (Enter loss using either a negative sign preceding the number e.g....
Application Problem 6-13A Johnstone Inc. had a net loss of $84,600 prior to the following transactions: • • • The company wrote off accounts of customers owing $35,500. The company recovered $8,800 in receivables from customers whose accounts had previously been written off. The company recorded bad debts expense of $46,500 based on an aging of its receivables. What would Johnstone's net income (or loss) be after these transactions? (Enter loss using either a negative sign preceding the number e.g....
Please try to show as many steps as possible. Thank you.
Johnstone Inc. had a net loss of $89,300 prior to the following transactions: • . The company wrote off accounts of customers owing $35,500. The company recovered $8,300 in receivables from customers whose accounts had previously been written off. The company recorded bad debts expense of $49,200 based on an aging of its receivables. What would Johnstone's net income (or loss) be after these transactions? (Enter loss using either...
Answer the following ( LAST ATTEMPT SO KINDLY ANSWER CORRECT
PLEASE
Answer the ticked boxes
Application Problem 6-5B a-c Majestic Equipment Sales Company, which sells only on account, had a $132,000 balance in its Accounts Receivable and a $6,000 credit balance in its Allowance for Doubtful Accounts on December 31, 2019. During 2020, the company's sales of equipment were $826,000 and its total cash collections from customers were $782,000. During the year, the company concluded that customers with accounts totalling...
Step wise last attempt please
Application Problem 6-5B a-c Majestic Equipment Sales Company, which sells only on account, had a $132,000 balance in its Accounts Receivable and a $6,000 credit balance in its Allowance for Doubtful Accounts on December 31, 2019. During 2020, the company's sales of equipment were $826,000 and its total cash collections from customers were $782,000. During the year, the company concluded that customers with accounts totalling $8,000 would be unable to pay, and wrote these receivables...
Application Problem 6-5B a-c Majestic Equipment Sales Company, which sells only on account, had a $129,000 balance in its Accounts Receivable and a $4,300 credit balance in its Allowance for Doubtful Accounts on December 31, 2019. During 2020, the company's sales of equipment were 5827,000 and its total cash collections from customers were $798,000. During the year, the company conduded that customers with accounts totalling $7,600 would be unable to pay, and wrote these receivables off. However, one of these...
PRINTER VERSION BACK NEXT Application Problem 6-5B a-c Majestic Equipment Sales Company, which sells only on account, had a $128,000 balance in its Accounts Receivable and a $4,500 credit balance in its Allowance for Doubtful Accounts on December 31, 2019. During 2020, the company's sales of equipment were $821,000 and its total cash collections from customers were $796,000. During the year, the company concluded that customers with accounts totalling $6,000 would be unable to pay, and wrote these receivables off....
Please answer D (last picture)
At December 31, 2017, Runner Imports Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $637,000 39,000 During 2018, the company had the following summary transactions related to receivables and sales. Runner uses the perpetual inventory system. 1. Sales on account amounted to $2,544,000. The cost of the inventory sold was $2,213,280. 2. Sales returns and allowances with a total sales price of $43,000 and a cost of $37,410...
Majestic Equipment Sales Company, which sells only on account,
had a $136,000 balance in its Accounts Receivable and a $5,700
credit balance in its Allowance for Doubtful Accounts on December
31, 2019. During 2020, the company's sales of equipment were
$836,000 and its total cash collections from customers were
$791,000.
During the year, the company concluded that customers with accounts
totalling $6,500 would be unable to pay, and wrote these
receivables off. However, one of these customers subsequently made
a...
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