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Question: 15-29 (OBJECTIVES 15-2, 15-3) Fastjet Airlines Limited 15-29 (OBJECTIVES 15-2, 15-3) Fastjet Airlines Limited is...
Can I get some help solving this problem? Instructions Evers Industries has a past history of...
Can I get some help solving this problem?
Instructions Evers Industries has a past history of uncollectible accounts, as follows. Age Class Percent Uncollectible Not past due 3% 1-30 days past due 31-60 days past due 15 61-90 days past due 33 Over 90 days past due Estimate the allowance for doubtful accounts, based on the aging of receivables information provided in the Aging of Receivables Schedule page. Aging of Receivables Schedule Shaded cells have feedback. X Evers Industries Score:...
Geisel, Inc. reported net sales revenue of $525,000 in 2018 and $617,000 in 2019. The company's...
Geisel, Inc. reported net sales revenue of $525,000 in 2018 and $617,000 in 2019. The company's ending net receivables were $124,000 during 2017 and $140,000 during 2018. At December 31, 2019, the company had Accounts Receivable of $138,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,500. The company reported Bad Debt Expense of $8,560 during 2019. Required: a. Determine the net receivables at December 31, 2019. b. Calculate the receivables turnover ratio for 2018...
2. Broadway Limited had an $800 credit balance in Allowance for Doubtful Accounts at December 31,...
2. Broadway Limited had an $800 credit balance in Allowance for Doubtful Accounts at December 31, 2018, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following (10 marks): Estimated Percentage Uncollectible Current Accounts........................................... $150,000 1% 1-30 days past due.............................................. 15,000 3% 31-60 days past due.............................................. 8,000 6% 61-90 days past due.............................................. 5,000 12% Over 90 days past due.................................... 6,000 30% Total Accounts...
The following items appeared on the Balance Sheet of Bellaire Inc. on 31 December 2020. All...
The following items appeared on the Balance Sheet of Bellaire Inc. on 31 December 2020. All amounts in $ 2020 2019 Trade Receivables (Gross) 880,100 765,000 Allowance for Doubtful Debts (?) (52,800) Net Trade Receivables ? 827,300 In addition, the Ageing analysis for the company was as follows: Age Trade Rec. Default rate 0-30 days 510,000 2% 31-60 days 205,000 6% 61-90 days 120,000 15% 90+ days 45,100 50% Using the above information, compute the Allowance for Doubtful Debts and...
how can I solve this question? Below is the aging of receivables schedule for Evers Industries. Aging-of-Receivables Sch...
how can I solve this
question?
Below is the aging of receivables schedule for Evers Industries. Aging-of-Receivables Schedule November 30 Not Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90 Days Past Due Customer Balance Subtotals 687,500 405,600 151,300 61,900 34,400 34,300 Boyd Industries 13,700 15,600 6,900 7,900 Hodges Company Kent Creek Inc. Lockwood Company Van Epps Company Totals Percentage uncollectible Allowance for Doubtful Accounts 13,700 15,600 6,900 7,900 28,700 28,700 760,300 434,300...
Part 2 of 3 During the fiscal year ended December 31, 2020, Lynbrook Inc. had credit...
Part 2 of 3 During the fiscal year ended December 31, 2020, Lynbrook Inc. had credit sales of $4,780,000. On December 31, 2020, Lynbrook had an unadjusted debit balance in their Allowance for Doubtful Accounts of $15,275. Your accounting department prepared an aging schedule of Lynbrook's December 31, 2020, accounts receivable account. Based on past experience, Lynbrook estimates the percent of receivables in each age category that will become uncollectible. This information is summarized here. December 31, 2020 Age of...
A2. The following data are extracted from the financial statements of Frozen Limit and Tarzan Limited...
A2. The following data are extracted from the financial statements of Frozen Limit and Tarzan Limited for the year ended 31 March 2019. Closing inventory Trade receivables Total current assets Trade payables Total current liabilities Sales Cost of sales Gross profit Profit before tax Frozen Limited S000 10,300 3.800 16,300 4,600 6.920 62,500 50.100 12.400 4.600 Tarzan Limited S'000 9,500 2,300 13,400 4,500 7,810 58,900 51,300 7,600 1,900 Frozen Limited and Tarzan Limited have a similar size and structure. They...
Required information [The following information applies to the questions displayed below.] Jarden Company has credit sales...
Required information [The following information applies to the questions displayed below.] Jarden Company has credit sales of $2,600,000 for year 2017. On December 31, 2017, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $15,066. Jarden prepares a schedule of its December 31, 2017, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category that will become uncollectible. This information is summarized here. December 31, 2017 Accounts...
Tableau DA 7-2: Percent of sales method, percent of recelvables method, and aging of receivables method...
Tableau DA 7-2: Percent of sales method, percent of recelvables method, and aging of receivables method LO P3 The manager asks you to assist her with the data analytics on bad debts expense at year-end. To do this, you access the following Tableau Dashboard for your company. $732000 Makeup of Current Assets $1220000 $1708000 $476000 Cash Accounts Receivable Inventory Supplies Value (5) Accounts Receivable by Age Over 90 days past due $12000 61.90 days past due $38000 31.60 days past...
Chapter 07 Homework i Saved Part 1 of 2 Required information The following information applies to...
Chapter 07 Homework i Saved Part 1 of 2 Required information The following information applies to the questions displayed below. Jarden Company has credit sales of $2,600,000 for year 2018. On December 31, 2018, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $20,814. Jarden prepares a schedule of its December 31, 2018, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category that will become uncollectible....
Can I get some help solving this problem?
Instructions Evers Industries has a past history of uncollectible accounts, as follows. Age Class Percent Uncollectible Not past due 3% 1-30 days past due 31-60 days past due 15 61-90 days past due 33 Over 90 days past due Estimate the allowance for doubtful accounts, based on the aging of receivables information provided in the Aging of Receivables Schedule page. Aging of Receivables Schedule Shaded cells have feedback. X Evers Industries Score:...
Geisel, Inc. reported net sales revenue of $525,000 in 2018 and $617,000 in 2019. The company's ending net receivables were $124,000 during 2017 and $140,000 during 2018. At December 31, 2019, the company had Accounts Receivable of $138,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,500. The company reported Bad Debt Expense of $8,560 during 2019. Required: a. Determine the net receivables at December 31, 2019. b. Calculate the receivables turnover ratio for 2018...
how can I solve this
question?
Below is the aging of receivables schedule for Evers Industries. Aging-of-Receivables Schedule November 30 Not Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90 Days Past Due Customer Balance Subtotals 687,500 405,600 151,300 61,900 34,400 34,300 Boyd Industries 13,700 15,600 6,900 7,900 Hodges Company Kent Creek Inc. Lockwood Company Van Epps Company Totals Percentage uncollectible Allowance for Doubtful Accounts 13,700 15,600 6,900 7,900 28,700 28,700 760,300 434,300...
Part 2 of 3 During the fiscal year ended December 31, 2020, Lynbrook Inc. had credit sales of $4,780,000. On December 31, 2020, Lynbrook had an unadjusted debit balance in their Allowance for Doubtful Accounts of $15,275. Your accounting department prepared an aging schedule of Lynbrook's December 31, 2020, accounts receivable account. Based on past experience, Lynbrook estimates the percent of receivables in each age category that will become uncollectible. This information is summarized here. December 31, 2020 Age of...
A2. The following data are extracted from the financial statements of Frozen Limit and Tarzan Limited for the year ended 31 March 2019. Closing inventory Trade receivables Total current assets Trade payables Total current liabilities Sales Cost of sales Gross profit Profit before tax Frozen Limited S000 10,300 3.800 16,300 4,600 6.920 62,500 50.100 12.400 4.600 Tarzan Limited S'000 9,500 2,300 13,400 4,500 7,810 58,900 51,300 7,600 1,900 Frozen Limited and Tarzan Limited have a similar size and structure. They...
Required information [The following information applies to the questions displayed below.] Jarden Company has credit sales of $2,600,000 for year 2017. On December 31, 2017, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $15,066. Jarden prepares a schedule of its December 31, 2017, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category that will become uncollectible. This information is summarized here. December 31, 2017 Accounts...
Tableau DA 7-2: Percent of sales method, percent of recelvables method, and aging of receivables method LO P3 The manager asks you to assist her with the data analytics on bad debts expense at year-end. To do this, you access the following Tableau Dashboard for your company. $732000 Makeup of Current Assets $1220000 $1708000 $476000 Cash Accounts Receivable Inventory Supplies Value (5) Accounts Receivable by Age Over 90 days past due $12000 61.90 days past due $38000 31.60 days past...
Chapter 07 Homework i Saved Part 1 of 2 Required information The following information applies to the questions displayed below. Jarden Company has credit sales of $2,600,000 for year 2018. On December 31, 2018, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $20,814. Jarden prepares a schedule of its December 31, 2018, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category that will become uncollectible....
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