At December 31, Gill Co. reported accounts receivable of $261,000 and an allowance for uncollectible accounts...
At December 31, Gill Co. reported accounts receivable of $261,000 and an allowance for uncollectible accounts of $1,150 (credit) before any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 2% of accounts receivable. The amount of the adjustment for uncollectible accounts would be:
Multiple Choice
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$1,150.
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$3,980.
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$4,070.
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$5,220.
Homework Answers
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At December 31, Gill Co. reported accounts receivable of
$261,000 and an allowance for uncollectible accounts...
At December 31, Gill Co. reported accounts receivable of $246,000 and an allowance for uncollectible accounts...
At December 31, Gill Co. reported accounts receivable of $246,000 and an allowance for uncollectible accounts of $1,800 (debit) before any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 3% of accounts receivable. The amount of the adjustment for uncollectible accounts would be: At December 31, Gill Co. reported accounts receivable of $232,000 and an allowance for uncollectible accounts of $1,100 (credit) before any adjustments. An analysis of accounts receivable suggests that the...
33 As of December 31, 2015, Gill Co. reported accounts receivable of $226,000 and an allowance...
33 As of December 31, 2015, Gill Co. reported accounts receivable of $226,000 and an allowance for uncollectible accounts of $8,500. During 2016, accounts receivable Increased by $22,800. Including $7.600 in bad debts that were written off. An analysis of Gill Co.'s December 31, 2016. accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable. Bad debt expense for 2016 would be: 00:29:09) Multiple Choice 0 None othecenswer choices are correct 0
As of December 31, 2015, Gill Co. reported accounts receivable of $218,000 and an allowance for...
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5 questions TZ CILJ At December 31, Gill Co, reported accounts receivable of $232,000 and an...
5 questions
TZ CILJ At December 31, Gill Co, reported accounts receivable of $232,000 and an alowance for uncollectible accounts of $950 (credit before any adjustments An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 5% of accounts receivable. The amount of the adjustment for uncollectible accounts would be: Help Save & Exit At December 31, GH Co. reported accounts receivable of $227,000 and an allowance for uncollectible accounts of $1.500 (debit before any adjustments...
Question 11 (1 point) Saved As of December 31, 2017, Gill Co. reported accounts receivable of...
Question 11 (1 point) Saved As of December 31, 2017, Gill Co. reported accounts receivable of $216,000 and an allowance for uncollectible accounts of $8,400. During 2018, accounts receivable increased by $22,000 (that change includes $7,800 of bad debts that were written off). An analysis of Gill Co.'s December 31, 2018, accounts receivable suggests that the allowance for uncollectible accounts should be 3 % of accounts receivable. Bad debt expense for 2018 would be: $6.540. $7,800. $7,140. None of these...
At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $313,000 and in...
At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $313,000 and in Allowance for Uncollectible Accounts of $650 (credit) before any adjustments. An analysis of Amy Jo's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 2% of accounts receivable. Bad debt expense for the year should be: Multiple Choice $6,910. $5,111. $6,260. $5,610.
Use the following to answer questions 12-15 At December 31, KC Co reported accounts receivable of...
Use the following to answer questions 12-15 At December 31, KC Co reported accounts receivable of $50,000 and an allowance for uncollectible accounts of $300 (credit). An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 7% of accounts receivable. 12. S_ _Estimate the amount of uncollectible receivables: 13. $_ When recording the adjusting entry for bad debt expense how much should Allowance for Uncollectible accounts be credited? 14. On January 10, a customer's account balance...
Use the following to answer questions 12 – 15 At December 31, KC Co reported accounts...
Use the following to answer questions 12 – 15 At December 31, KC Co reported accounts receivable of $75,000 and an allowance for uncollectible accounts of $400 (credit). An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 8% of accounts receivable. 12. $_ _Estimate the amount of uncollectible receivables: 13. $. __When recording the adjusting entry for bad debt expense how much should Allowance for Uncollectible accounts be credited? 14. On January 10, a customer's...
Use the following to answer questions 12-15 At December 31, KC Co reported accounts receivable of...
Use the following to answer questions 12-15 At December 31, KC Co reported accounts receivable of $50,000 and an allowance for uncollectible accounts of $300 (credit). An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 7% of accounts receivable. 12. $ Estimate the amount of uncollectible receivables: 13. $ When recording the adjusting entry for bad debt expense how much should Allowance for Uncollectible accounts be credited? 14. On January 10, a customer's account balance...
Under the allowance method, which of the following does not change the balance in the Accounts...
Under the allowance method, which of the following does not change the balance in the Accounts Receivable account? Collections on customer accounts bad debt expense adjustment write offs none of the above 29 8 At December 31, Gill Co. reported accounts receivable of $238.000 and an allowance for uncollectible accounts of $600 (credit). An analysis of accounts receivable sugests that the allowance for uncollectible accounts should be 3% of accounts receivable. The amount of the adjustment for uncollectible accounts would...
33 As of December 31, 2015, Gill Co. reported accounts receivable of $226,000 and an allowance for uncollectible accounts of $8,500. During 2016, accounts receivable Increased by $22,800. Including $7.600 in bad debts that were written off. An analysis of Gill Co.'s December 31, 2016. accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable. Bad debt expense for 2016 would be: 00:29:09) Multiple Choice 0 None othecenswer choices are correct 0
5 questions
TZ CILJ At December 31, Gill Co, reported accounts receivable of $232,000 and an alowance for uncollectible accounts of $950 (credit before any adjustments An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 5% of accounts receivable. The amount of the adjustment for uncollectible accounts would be: Help Save & Exit At December 31, GH Co. reported accounts receivable of $227,000 and an allowance for uncollectible accounts of $1.500 (debit before any adjustments...
Question 11 (1 point) Saved As of December 31, 2017, Gill Co. reported accounts receivable of $216,000 and an allowance for uncollectible accounts of $8,400. During 2018, accounts receivable increased by $22,000 (that change includes $7,800 of bad debts that were written off). An analysis of Gill Co.'s December 31, 2018, accounts receivable suggests that the allowance for uncollectible accounts should be 3 % of accounts receivable. Bad debt expense for 2018 would be: $6.540. $7,800. $7,140. None of these...
Use the following to answer questions 12-15 At December 31, KC Co reported accounts receivable of $50,000 and an allowance for uncollectible accounts of $300 (credit). An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 7% of accounts receivable. 12. S_ _Estimate the amount of uncollectible receivables: 13. $_ When recording the adjusting entry for bad debt expense how much should Allowance for Uncollectible accounts be credited? 14. On January 10, a customer's account balance...
Use the following to answer questions 12 – 15 At December 31, KC Co reported accounts receivable of $75,000 and an allowance for uncollectible accounts of $400 (credit). An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 8% of accounts receivable. 12. $_ _Estimate the amount of uncollectible receivables: 13. $. __When recording the adjusting entry for bad debt expense how much should Allowance for Uncollectible accounts be credited? 14. On January 10, a customer's...
Use the following to answer questions 12-15 At December 31, KC Co reported accounts receivable of $50,000 and an allowance for uncollectible accounts of $300 (credit). An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 7% of accounts receivable. 12. $ Estimate the amount of uncollectible receivables: 13. $ When recording the adjusting entry for bad debt expense how much should Allowance for Uncollectible accounts be credited? 14. On January 10, a customer's account balance...
Under the allowance method, which of the following does not change the balance in the Accounts Receivable account? Collections on customer accounts bad debt expense adjustment write offs none of the above 29 8 At December 31, Gill Co. reported accounts receivable of $238.000 and an allowance for uncollectible accounts of $600 (credit). An analysis of accounts receivable sugests that the allowance for uncollectible accounts should be 3% of accounts receivable. The amount of the adjustment for uncollectible accounts would...
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