Homework Answers
Total Amount Outstanding = $140,000 + $80,000 + $20,000 = $240,000
DSO = [{$140,000 / $240,000} * 13] + [{$80,000 / $240,000} * 46] + [{$20,000 / $240,000} * 66]
= 7.58 + 15.33 + 5.50 = 28.42, or 28 days
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Problem 18 Intro The accounts receivable aging schedule for Watson Precision Mechanics is given below: Average...
Intro The accounts receivable aging schedule for Watson Precision Mechanics is given below: Problem 18 Intro...
Intro The accounts receivable aging schedule for Watson Precision Mechanics is given below: Problem 18 Intro The accounts receivable aging schedule for Watson Precision Mechanics is given below: Account age Average days Amount outstanding 0-30 days 18 $140,000 31-60 days 48 $70,000 61+ days 65 $20,000 Part 1 What is the firm's days sales outstanding?
Question 4 --/14 View Policies Current Attempt in Progress Marshall Ltd. prepares an aging schedule for...
Question 4 --/14 View Policies Current Attempt in Progress Marshall Ltd. prepares an aging schedule for its accounts receivable at the end of each month and records bad debts expense monthly. The following selected information is from Marshall's partial aging schedule at the end of July: Estimated Percentage Uncollectible 2% Number of Days Accounts Outstanding Receivable 0-30 days $710,000 31-60 days 335,000 61-90 days 104,000 Over 90 days 80,000 Total $1,229,000 6% 11% 22% $1.29 The unadjusted balance in Allowance...
Marshall Ltd. prepares an aging schedule for its accounts receivable at the end of each month...
Marshall Ltd. prepares an aging schedule for its accounts receivable at the end of each month and records bad debts expense monthly. The following selected information is from Marshall's partial aging schedule at the end of July: Number of Days Outstanding 0-30 days 31-60 days 61-90 days Over 90 days Total Accounts Receivable $710,000 335,000 104,000 80,000 $1,229,000 Estimated Percentage Uncollectible 2% 6% 11% 22% The unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,990. ✓ Your...
Nija Incorporated reports the following aging schedule of its accounts receivable with the estimated percent uncollectible....
Nija Incorporated reports the following aging schedule of its accounts receivable with the estimated percent uncollectible. What is the total estimate of uncollectible accounts using the aging method? Age Group 0-60 days 61-90 days More than 90 days past due Total Estimated Amount Percent Receivable Uncollectible $40,000 16 15,000 208 5,000 608 $60,000
Kidz Incorporated reports the following aging schedule of its accounts receivable with the estimated percent uncollectible....
Kidz Incorporated reports the following aging schedule of its accounts receivable with the estimated percent uncollectible. Estimated Amount Percent Age Group Receivable Uncollectible 0-60 days $20,000 28 61-90 days 6,000 158 More than 90 days past due 2,000 Total $28,000 503 At what amount would Allowance for Uncollectible Accounts be reported in the current year's balance sheet? At the beginning of the year, Dawnetta Fashions has total accounts receivable of $300,000. By the end of the year, Dawnetta reports total...
Granger Imports prepared the aging schedule below at December 31 Complete the following aging schedule. Total...
Granger Imports prepared the aging schedule below at December 31 Complete the following aging schedule. Total Estimated Uncollected Accounts Number of Days Accounts Receivable Estimated% Uncollectible Outstanding 0-30 days 31-60 days 61-90 days Over 90 days $403,000 115,000 65,000 43,000 1% 5% 10% 19% Total $626,000
Canarie Ltd. prepares an aging schedule for its accounts receivable at the end of each month...
Canarie Ltd. prepares an aging schedule for its accounts
receivable at the end of each month and records bad debts expense
monthly. The following selected information is from Canarie’s
partial aging schedule at the end of July:
Number of
Days
Outstanding
Accounts
Receivable
Estimated
Percentage
Uncollectible
0–30 days
$719,000
2%
31–60 days
326,000
6%
61–90 days
121,000
11%
Over 90 days
78,000
23%
Total
$1,244,000
The unadjusted balance in Allowance for Doubtful Accounts is a
credit of $13,000.
(a)
Your...
both are the same i checked and rechecked the question. Intro Morgan Valley Inc. has current...
both are the same i checked and rechecked the question.
Intro Morgan Valley Inc. has current sales of $460,000. All of its sales are on credit and there is no default. It currently sells on terms of net 30 and has an accounts receivable balance of $60,000 The company is considering a new credit policy with terms of net 60. Under the new policy, sales are expected to increase to $520,000, and accounts receivable are expected to increase to $120,000...
debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad...
debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December 31, 2018. Debts by using the age of each account. * Data Table Age of Accounts 1-30 Days Accounts Receivable $ 60,000 Estimated percent uncollectibles 0.5% 31-60 Days $ 40,000 3.0 % 61-90 Days $ 15,000 5.0% Over 90 Days $ 25,000 50.0 % Print Done < Answer. Clear All using the age of each account. Acd 1-90 i Requirements Days...
Route Canal Shipping Company has the following schedule for aging of accounts receivable: Age of Receivable...
Route Canal Shipping Company has the following schedule for aging of accounts receivable: Age of Receivable ( 1) ( 2 ) ( 3 ) ( 4 ) Month of Sales Age of Account Amounts % of amount due April 0-30 $195,360 March 31-60 $97,680 February 61-90 $122,100 January 91-120 $73,260 Total receivables $488,400 100% a. Calculate the percentage of amount due for each month b. If the firm had $1,584,000 in credit sales over the four-month period, compute the average...
Question 4 --/14 View Policies Current Attempt in Progress Marshall Ltd. prepares an aging schedule for its accounts receivable at the end of each month and records bad debts expense monthly. The following selected information is from Marshall's partial aging schedule at the end of July: Estimated Percentage Uncollectible 2% Number of Days Accounts Outstanding Receivable 0-30 days $710,000 31-60 days 335,000 61-90 days 104,000 Over 90 days 80,000 Total $1,229,000 6% 11% 22% $1.29 The unadjusted balance in Allowance...
Marshall Ltd. prepares an aging schedule for its accounts receivable at the end of each month and records bad debts expense monthly. The following selected information is from Marshall's partial aging schedule at the end of July: Number of Days Outstanding 0-30 days 31-60 days 61-90 days Over 90 days Total Accounts Receivable $710,000 335,000 104,000 80,000 $1,229,000 Estimated Percentage Uncollectible 2% 6% 11% 22% The unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,990. ✓ Your...
Nija Incorporated reports the following aging schedule of its accounts receivable with the estimated percent uncollectible. What is the total estimate of uncollectible accounts using the aging method? Age Group 0-60 days 61-90 days More than 90 days past due Total Estimated Amount Percent Receivable Uncollectible $40,000 16 15,000 208 5,000 608 $60,000
Kidz Incorporated reports the following aging schedule of its accounts receivable with the estimated percent uncollectible. Estimated Amount Percent Age Group Receivable Uncollectible 0-60 days $20,000 28 61-90 days 6,000 158 More than 90 days past due 2,000 Total $28,000 503 At what amount would Allowance for Uncollectible Accounts be reported in the current year's balance sheet? At the beginning of the year, Dawnetta Fashions has total accounts receivable of $300,000. By the end of the year, Dawnetta reports total...
Granger Imports prepared the aging schedule below at December 31 Complete the following aging schedule. Total Estimated Uncollected Accounts Number of Days Accounts Receivable Estimated% Uncollectible Outstanding 0-30 days 31-60 days 61-90 days Over 90 days $403,000 115,000 65,000 43,000 1% 5% 10% 19% Total $626,000
Canarie Ltd. prepares an aging schedule for its accounts
receivable at the end of each month and records bad debts expense
monthly. The following selected information is from Canarie’s
partial aging schedule at the end of July:
Number of
Days
Outstanding
Accounts
Receivable
Estimated
Percentage
Uncollectible
0–30 days
$719,000
2%
31–60 days
326,000
6%
61–90 days
121,000
11%
Over 90 days
78,000
23%
Total
$1,244,000
The unadjusted balance in Allowance for Doubtful Accounts is a
credit of $13,000.
(a)
Your...
both are the same i checked and rechecked the question.
Intro Morgan Valley Inc. has current sales of $460,000. All of its sales are on credit and there is no default. It currently sells on terms of net 30 and has an accounts receivable balance of $60,000 The company is considering a new credit policy with terms of net 60. Under the new policy, sales are expected to increase to $520,000, and accounts receivable are expected to increase to $120,000...
debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December 31, 2018. Debts by using the age of each account. * Data Table Age of Accounts 1-30 Days Accounts Receivable $ 60,000 Estimated percent uncollectibles 0.5% 31-60 Days $ 40,000 3.0 % 61-90 Days $ 15,000 5.0% Over 90 Days $ 25,000 50.0 % Print Done < Answer. Clear All using the age of each account. Acd 1-90 i Requirements Days...
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