X Company has the following receivables classified into individually significant and all other receivables. Individually significant...
X Company has the following receivables classified into individually significant and all other receivables.
|
Individually significant P Company Q Company R Company S Company All other receivables |
$ 65,000 95,000 75,000 35,000 |
270,000 425,000 |
|
Total receivables. |
695,000 |
X company determines that P’s receivable is impaired by $20,000, and S’s receivable is totally impaired. Both Q’s and R’s receivables are not considered impaired. X company also determines that a composite rate of 2% is appropriate to measure impairment on all other receivables.
Required: Calculate the total impairment on accounts Receivable
Homework Answers
P's recivable - $ 20,000
S's receivable - $ 35,000
2% on others - $ 11,900
Total impairment - $ 66,900
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X Company has the following receivables classified into
individually significant and all other receivables.
Individually significant...
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ALL answers MUST be an excel
formula using the excel function requested in each segment as
follows
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