A corporation's unadjusted trial balance includes the following balances (assume normal balances): - accounts receivable $5,357,000...
A corporation's unadjusted trial balance includes the following balances (assume normal balances): - accounts receivable $5,357,000 -allowances for doubtful accounts $43,900 using an aging schedule, bad debts are estimated to be 4% of outstanding receivables. what amounts of bad debt expense will the company record? A. $214,280 B. 170,380 C. $258,180 D. $212,524
Homework Answers
Answer : B) 170,380
Bad Debts are estimated = 4% on Outstanding receivables = 4%*5,357,000 = $214,280
Bad debt Expenses = $214,280- $ 43900 = $ 170,380
Add Answer to:
A corporation's unadjusted trial balance includes the following
balances (assume normal balances): - accounts receivable $5,357,000...
The unadjusted trial balance at the end of the year includes the following: Accounts Receivable $...
The unadjusted trial balance at the end of the year includes the following: Accounts Receivable $ 114,000 Allowance for Doubtful Accounts 2,600 Both accounts have normal balances. The company uses the aging of accounts receivable method. Its estimate of uncollectible receivables resulting from the aging analysis equals $8,200. What is the amount of Bad Debt Expense to be recorded for the year? Multiple Choice $10,800 $5,600 $8,200 $13,400
102. Brother Bear Corporation’s unadjusted trial balance includes the following balances (assume normal balances): Accounts Receivable &
102. Brother Bear Corporation’s unadjusted trial balance includes the following balances (assume normal balances): Accounts Receivable $646,000 Allowance for Doubtful Accounts 15,200 Bad debts are estimated to be 6% of outstanding receivables. What amount of bad debts expense will the company record? 103. Manning Retailers accepted $75,000 of Citibank Visa credit card charges for merchandise sold on July 1. Citibank charges 4% for its credit card use. The entry to record this transaction by Manning Retailers will include a credit...
The unadjusted trial balance at the end of the year includes the following: $106.000 Accounts receivable...
The unadjusted trial balance at the end of the year includes the following: $106.000 Accounts receivable Allowance for doubtful accounts $1,800 Both accounts have normal balances. The company uses the aging of accounts receivable method. Its estimate of uncollectible receivables resulting from the aging analysis equals $7,000. What is the amount of Bad Debt Expense to be recorded for the year? Multiple Choice $10.600 Multiple Choice o $10,600 o $7000 o $5 200 o $8.800
SCORE SECTION STUDENT'S NAME Parlson Corporation's unadjusted year-end Trial Balance has the following balances: 1 S300,000...
SCORE SECTION STUDENT'S NAME Parlson Corporation's unadjusted year-end Trial Balance has the following balances: 1 S300,000 $1,180,000 55,000 Accounts Receivable1 Dr. Cr. Credit Sales Revenue Dr. Allowance for Doubtful Accounts Parlsan's Aging schedule has an estimated Allowance for Doubtful Account calculation of $10,500. Please calculate bad debt expense. Show your work for full points (20-points) Allowance for Doubtful Accounts Bad Debt Expense Dominic Florist unadjusted Trial Balance has the following balances 2. Accounts Receivable Allowance for Doubtful Account $1,500,000 Dr....
3. Stratege4U Company unadjusted year-end Trial Balance has the following balances: Accounts Receivable Credit Sales Revenue...
3. Stratege4U Company unadjusted year-end Trial Balance has the following balances: Accounts Receivable Credit Sales Revenue Allowance for Doubtful Accounts $200,000 $1,00,000 $4,500 Dr. Cr. Dr. Stratege4U Company Accounts Receivable Aging schedule has an estimated Allowance for Doubtful Account calculation of $5,500. Please calculate Bad Debt Expense. Show your work for full points. Bad Debt Expense Allowance for Doubtful Account
Assume Zap industries reported the following adjusted account balances at year-end. 2019 2018 Accounts Receivable $1,680,200...
Assume Zap industries reported the following adjusted account balances at year-end. 2019 2018 Accounts Receivable $1,680,200 $1,330,920 (91,000) $1,589,200 $1,255,520 Allowance for Doubtful Accounts (75,400) Accounts Receivable, Net Assume the company recorded no write-offs or recoveries during 2019. What was the amount of Bad Debt Expense reported in 2019? Multiple Choice $31,200 $91,000 $75.400. $15.600. A company's unadjusted trial balance at the end of the year includes the following: $110,000 2,200 Accounts Receivable Unadjusted debit balance in Allowance for Doubtful...
1. Metlock Company's unadjusted trial balance at December 31, 2020, included the following accounts. Accounts receivable...
1. Metlock Company's unadjusted trial balance at December 31, 2020, included the following accounts. Accounts receivable Allowance for doubtful accounts Net sales Debit $55,100 5,610 $1,229.500 Matlock Company estimates its bad debt expense to be 7% of gross accounts receivable. Determine its bad debt expense for 2020 Bad debt expense for 2020 $ 2. An analysis and aging of Bonita Corp. accounts receivable at December 31, 2020, disclosed the following. Amounts estimated to be uncollectible Accounts receivable Allowance for doubtful...
please help with these accounting problems! all questions please and thank you! = Evvv 15. A...
please help with these accounting problems! all questions please
and thank you!
= Evvv 15. A company has an ending accounts receivable balance of $1,800,000 and it estimates that uncollectible accounts will be 2% of the receivable balance. If Allowance for Doubtful Accounts has a credit balance of $4,000 prior to adjustment, its balance after adjustment will be a credit of A) $40,000 B) $36,000 C) $35,920. D) $32,000. 16. Smithson Corporation's unadjusted trial balance includes the following balances (assume...
On December 31 of the current year, the unadjusted trial balance of a company using the...
On December 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: Accounts Receivable, debit balance of $98,800; Allowance for Doubtful Accounts, credit balance of $1,121. What amount should be debited to Bad Debts Expense, assuming 5% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible? Multiple Choice $6,061. $3,819. $1,121. $2,927. $4,940.
Accounting for Accounts Receivable Assume that Dominum Company had the following balances in its receivable accounts...
Accounting for Accounts Receivable Assume that Dominum Company had the following balances in its receivable accounts on December 31, 2016: Accounts receivable $650,000 Allowance for bad debts 20,700 (credit balance) Transactions during 2017 were as follows: Gross credit sales $4,200,000 Collections of accounts receivable ($3,690,000 less cash discounts of $63,000) 3,627,000 Sales returns and allowances (from credit sales) 46,000 Accounts receivable written off as uncollectible 19,000 Balance in Allowance for Bad Debts on December 31, 2017 (based on percent of...
The unadjusted trial balance at the end of the year includes the following: $106.000 Accounts receivable Allowance for doubtful accounts $1,800 Both accounts have normal balances. The company uses the aging of accounts receivable method. Its estimate of uncollectible receivables resulting from the aging analysis equals $7,000. What is the amount of Bad Debt Expense to be recorded for the year? Multiple Choice $10.600 Multiple Choice o $10,600 o $7000 o $5 200 o $8.800
SCORE SECTION STUDENT'S NAME Parlson Corporation's unadjusted year-end Trial Balance has the following balances: 1 S300,000 $1,180,000 55,000 Accounts Receivable1 Dr. Cr. Credit Sales Revenue Dr. Allowance for Doubtful Accounts Parlsan's Aging schedule has an estimated Allowance for Doubtful Account calculation of $10,500. Please calculate bad debt expense. Show your work for full points (20-points) Allowance for Doubtful Accounts Bad Debt Expense Dominic Florist unadjusted Trial Balance has the following balances 2. Accounts Receivable Allowance for Doubtful Account $1,500,000 Dr....
3. Stratege4U Company unadjusted year-end Trial Balance has the following balances: Accounts Receivable Credit Sales Revenue Allowance for Doubtful Accounts $200,000 $1,00,000 $4,500 Dr. Cr. Dr. Stratege4U Company Accounts Receivable Aging schedule has an estimated Allowance for Doubtful Account calculation of $5,500. Please calculate Bad Debt Expense. Show your work for full points. Bad Debt Expense Allowance for Doubtful Account
Assume Zap industries reported the following adjusted account balances at year-end. 2019 2018 Accounts Receivable $1,680,200 $1,330,920 (91,000) $1,589,200 $1,255,520 Allowance for Doubtful Accounts (75,400) Accounts Receivable, Net Assume the company recorded no write-offs or recoveries during 2019. What was the amount of Bad Debt Expense reported in 2019? Multiple Choice $31,200 $91,000 $75.400. $15.600. A company's unadjusted trial balance at the end of the year includes the following: $110,000 2,200 Accounts Receivable Unadjusted debit balance in Allowance for Doubtful...
1. Metlock Company's unadjusted trial balance at December 31, 2020, included the following accounts. Accounts receivable Allowance for doubtful accounts Net sales Debit $55,100 5,610 $1,229.500 Matlock Company estimates its bad debt expense to be 7% of gross accounts receivable. Determine its bad debt expense for 2020 Bad debt expense for 2020 $ 2. An analysis and aging of Bonita Corp. accounts receivable at December 31, 2020, disclosed the following. Amounts estimated to be uncollectible Accounts receivable Allowance for doubtful...
please help with these accounting problems! all questions please
and thank you!
= Evvv 15. A company has an ending accounts receivable balance of $1,800,000 and it estimates that uncollectible accounts will be 2% of the receivable balance. If Allowance for Doubtful Accounts has a credit balance of $4,000 prior to adjustment, its balance after adjustment will be a credit of A) $40,000 B) $36,000 C) $35,920. D) $32,000. 16. Smithson Corporation's unadjusted trial balance includes the following balances (assume...
Accounting for Accounts Receivable Assume that Dominum Company had the following balances in its receivable accounts on December 31, 2016: Accounts receivable $650,000 Allowance for bad debts 20,700 (credit balance) Transactions during 2017 were as follows: Gross credit sales $4,200,000 Collections of accounts receivable ($3,690,000 less cash discounts of $63,000) 3,627,000 Sales returns and allowances (from credit sales) 46,000 Accounts receivable written off as uncollectible 19,000 Balance in Allowance for Bad Debts on December 31, 2017 (based on percent of...
Most questions answered within 3 hours.
-
A solenoid a cross-sectional area of 5.4x10^-4 m^2, consists of
540 turns per meter, and carries...
asked 2 minutes ago -
Explain some of the pros and cons of converting a C Corporation
into an S Corp?...
asked 6 minutes ago -
The diagram below shows a meter shunted by a parallel resistance
Rs. The maximum value for...
asked 6 minutes ago -
Be sure to answer all parts. A solution contains 0.107 mol of
NaCl dissolved in 9.35...
asked 6 minutes ago -
1. An 25.96 g sample of aluminum is placed on a 45.15 g sample
of copper...
asked 15 minutes ago -
Calculate the mass of p-dichlorobenzene (mm=147.00 g/mol) that
when dissolved in 125 ml cyclohexane (d=0.779 g/mol,...
asked 23 minutes ago -
An infinitely long solid conducting cylindrical shell of radius
a = 3.8 cm and negligible thickness...
asked 22 minutes ago -
A defibrillator is used during a heart attack to restore the
heart to its normal beating...
asked 27 minutes ago -
Describe how humans have affected the numerous pathways and
reservoirs in the carbon cycle that have...
asked 29 minutes ago -
Which of the following statements is true of a distribution
rollover (not a trustee-to-trustee transfer) from...
asked 31 minutes ago -
Matching: What are 4 fundamental activities in software
processes?
definition of the software function and operational...
asked 37 minutes ago -
University Printers has two service departments (Maintenance and
Personnel) and two operating departments (Printing and Developing)....
asked 52 minutes ago