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
Homework Answers
Answer is $5,600
Unadjusted Allowance for Doubtful Accounts = $2,600
Estimated Uncollectible = $8,200
Bad Debt Expenses = Estimated Uncollectible - Unadjusted
Allowance for Doubtful Accounts
Bad Debt Expenses = $8,200 - $2,600
Bad Debt Expenses = $5,600
Add Answer to:
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: $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
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...
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
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
The unadjusted trial balance at year end for a company that uses the percent of receivables method...
The unadjusted trial balance at year end for a company that uses the percent of receivables method to determine its bad debts expense reports the following selected amounts: Accounts receivable Allowance for Doubtful Accounts Net Sales $ 444,000 Debit 1,340 Debit 2,190,000 Credit All sales are made on credit. Based on past experience, the company estimates 3.0% of ending account receivable to be uncollectible. What adjusting entry should the company make at the end of the current year to record...
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...
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.
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance...
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $735,000; Allowance for Doubtful Accounts has a debit balance of $6,500; and sales for the year total $3,310,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $28,600. a. Determine the amount of the adjusting entry for uncollectible accounts. $ b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable...
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance...
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $495,000; Allowance for Doubtful Accounts has a debit balance of $4,500; and sales for the year total $2,230,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $19,800. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable Allowance...
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance...
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $760,000; Allowance for Doubtful Accounts has a credit balance of $7,000; and sales for the year total $3,420,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $30,100. a. Determine the amount of the adjusting entry for uncollectible accounts. $ b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. 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
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...
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
The unadjusted trial balance at year end for a company that uses the percent of receivables method to determine its bad debts expense reports the following selected amounts: Accounts receivable Allowance for Doubtful Accounts Net Sales $ 444,000 Debit 1,340 Debit 2,190,000 Credit All sales are made on credit. Based on past experience, the company estimates 3.0% of ending account receivable to be uncollectible. What adjusting entry should the company make at the end of the current year to record...
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...
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $495,000; Allowance for Doubtful Accounts has a debit balance of $4,500; and sales for the year total $2,230,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $19,800. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable Allowance...
Most questions answered within 3 hours.
-
what is the current research being done on the hexokinase
enzyme?
asked 1 minute from now -
Let’s assume you want to retire with $1,000,000 in your
investment portfolio. Given that your investment...
asked 1 minute from now -
Test the hypothesis using P-value approach. Be sure to verify
the requirements of the test.
H0:...
asked 17 seconds ago -
Balance the following oxidation-reduction equations using redox
methods:
Cu + H+ --------> Cu+ +
H2
asked 2 minutes ago -
Baltimore Manufacturing had a Work in Process balance of $84,000
on January 1, 2018. The year...
asked 5 minutes ago -
Need help converting into sql language.
How many players from each town served on the committee...
asked 17 minutes ago -
A professor needs to assign 15 teaching assistants to the course
STATISTICS 101. There are 40...
asked 19 minutes ago -
A palindrome is a word, phrase, number, or other sequence of
characters which reads the same...
asked 12 minutes ago -
1. Find a grammar for L(G) = {All bit strings with twice as many
1s as...
asked 17 minutes ago -
The voltage from an AC source varies as v = 240 sin (503t)
volts. Find (a)...
asked 28 minutes ago -
In Ligedia, a country in East Asia, factory workers are exposed
to dangerous work conditions. Although...
asked 24 minutes ago -
Write in C++
Name sort
Write a program that allows you to input up to 20...
asked 32 minutes ago