Calistoga Produce estimates bad debt expense at 1/2% of credit sales. The company reported accounts receivable...
Calistoga Produce estimates bad debt expense at 1/2% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $471,000 and $1,650, respectively, at December 31, 2015. During 2016, Branson's credit sales and collections were $315,000 and $319,000, respectively, and $1,720 in accounts receivable were written off.
What is Calistoga's adjusted allowance for uncollectible accounts at December 31, 2016?
Homework Answers
Estimated Bad Debt Expenses in 2016 = Percentage of credit sale * Credit sale
Estimated Bad Debt Expenses in 2016 = 0.5%*315000
Estimated Bad Debt Expenses in 2016 = 1575
Branson's adjusted allowance for uncollectible accounts at December 31, 2016 = Begining allowance for uncollectible accounts + Estimated Bad Debt Expenses for 2016 credit sale - Amount written off
Branson's adjusted allowance for uncollectible accounts at December 31, 2016 =1650+1575 - 1720
Branson's adjusted allowance for uncollectible accounts at December 31, 2016 = $ 1505
Answer
Branson's adjusted allowance for uncollectible accounts at December 31, 2016 = $ 1505
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Calistoga Produce estimates bad debt expense at 1/2% of credit
sales. The company reported accounts receivable...
Calistoga Produce estimates bad debt expense at ½% of credit sales. The company reported accounts receivable...
Calistoga Produce estimates bad debt expense at ½% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $471,000 and $1,650, respectively, at December 31, 2012. During 2013, Calistoga's credit sales and collections were $315,000 and $319,000, respectively, and $1,720 in accounts receivable were written off. Calistoga's accounts receivable at December 31, 2013, are: A. $467,000. B. $473,280. C. $465,280. D. $469,280. Calistoga's 2013 bad debt expense is: A. $1,720. B. $1,650. C. $1,505. D. $1,575....
Calistoga Produce estimates bad debt expense at 0.5% of credit sales. The company reported accounts receivable...
Calistoga Produce estimates bad debt expense at 0.5% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $471,000 and $1,650, respectively, at December 31, 2017. During 2018, Calistoga's credit sales and collections were $315,000 and $319,000, respectively, and $1,720 in accounts receivable were written off. Calistoga's ending balance in its allowance for uncollectible accounts at December 31, 2018, is: $1,505. $1,575. $1,720. $1,650.
Calistoga Produce estimates bad debt expense at 040% of credit sales. The company reported accounts recevable...
Calistoga Produce estimates bad debt expense at 040% of credit sales. The company reported accounts recevable and allowance for uncolectible accounts of $471,000 and $1,500 respectively, at December 31, 2017 Ouring 2018, Calstoga's credit sales and collections were $319,000 and $316.000, respectively, and $1730 in accounts receivable were written off Calistoga's fenal balance in ts allowance for uncollectible accounts at December 31, 2018, is Muple Choice $951 s046 S6
Calistoga Produce estimates bad debt expense at 0.40% of credit sales. The company reported accounts receivable...
Calistoga Produce estimates bad debt expense at 0.40% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $490,000 and $1,510 respectively, at December 31, 2020. During 2021, Calistoga's credit sales and collections were $329,000 and $316,000, respectively, and $1,830 in accounts receivable were written off. Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2021, is: Multiple Choice $996. $1,881. $1,646. $901.
Calistoga Produce estimates bad debt expense at 0.40% of credit sales. The company reported accounts receivable...
Calistoga Produce estimates bad debt expense at 0.40% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $487,000 and $1,540, respectively, at December 31, 2020. During 2021, Calistoga's credit sales and collections were $319,000 and $312,000, respectively, and $1,770 in accounts receivable were written off. Calistoga's accounts receivable at December 31, 2021, are: Multiple Choice $478,230. $494,000. $485,230. $492,230. Accounts receivable are normally reported at the: Multiple Choice Expected amount to be collected. Current value...
What is the correct answer? Calistoga Produce estimates bad debt expense at 0.50% of credit sales....
What is the correct answer?
Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $488,000 and $1,480 respectively, at December 31, 2020. During 2021, Calistoga's credit sales and collections were $332,000 and $317,000, respectively, and $1,870 in accounts receivable were written off. Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2021, is: Multiple Choice 0 $2,155. $2,155. $1,270 O ooo $1,175. $1,920
QUESTION 4 Domino Company ages its accounts receivable to estimate bad debes expense Domino began Year...
QUESTION 4 Domino Company ages its accounts receivable to estimate bad debes expense Domino began Year 2 wich balances in Accounts Receivable and Allowance for Doubtful Accounts of $40,170 and 53080, respectively. During Year the company wrote off 52420 in uncollecoble accounts. In preparation for the companys estimate of bad debes expense for Year 2, Domino prepared the following aging schedule: Number of Days Receivables aukely to be 0-30 What amount will be reported as bad debes expense on the...
Caloga Produce estimates bad debt expense at 40% of credits The company reported accounts we and...
Caloga Produce estimates bad debt expense at 40% of credits The company reported accounts we and allowance for uncoctible accounts of During 20m Calestogut credt sales and collections were sin000 and $398 000, respectively and s1910 in accounts receivable were written oft 1000 and 590 o vely December 2012 Calistog's accounts receivable at December 2016 ο Ο μειο ο Ο διειοο ο ο Ο κό
Rode Company estimates bad debt expense at 1% of credit sales. The company reported accounts receivable...
Rode Company estimates bad debt expense at 1% of credit sales. The company reported accounts receivable of $100,000 and a pre- adjustment credit balance in its allowance for uncollectible accounts account of $2,000 at the end of the current year. During the current year, Rode's credit sales were $2,000,000. What is the amount of the company's bad debt expense for the current year?
At the beginning of 2015, the balances for Accounts Receivable and Allowance for Doubtful Accounts were...
At the beginning of 2015, the balances for Accounts Receivable and Allowance for Doubtful Accounts were $77,000 and $5,144 (credit), respectively. During the current year, credit sales were $463,000 and collections on account were $341,000. In addition, $3,800 in uncollectible accounts were written off, and $750 of accounts previously written off were collected during the year. If management estimates bad debts based on 3 percent of total credit sales, determine the net realizable value of accounts receivable at December 31,...
Calistoga Produce estimates bad debt expense at 040% of credit sales. The company reported accounts recevable and allowance for uncolectible accounts of $471,000 and $1,500 respectively, at December 31, 2017 Ouring 2018, Calstoga's credit sales and collections were $319,000 and $316.000, respectively, and $1730 in accounts receivable were written off Calistoga's fenal balance in ts allowance for uncollectible accounts at December 31, 2018, is Muple Choice $951 s046 S6
What is the correct answer?
Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $488,000 and $1,480 respectively, at December 31, 2020. During 2021, Calistoga's credit sales and collections were $332,000 and $317,000, respectively, and $1,870 in accounts receivable were written off. Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2021, is: Multiple Choice 0 $2,155. $2,155. $1,270 O ooo $1,175. $1,920
QUESTION 4 Domino Company ages its accounts receivable to estimate bad debes expense Domino began Year 2 wich balances in Accounts Receivable and Allowance for Doubtful Accounts of $40,170 and 53080, respectively. During Year the company wrote off 52420 in uncollecoble accounts. In preparation for the companys estimate of bad debes expense for Year 2, Domino prepared the following aging schedule: Number of Days Receivables aukely to be 0-30 What amount will be reported as bad debes expense on the...
Caloga Produce estimates bad debt expense at 40% of credits The company reported accounts we and allowance for uncoctible accounts of During 20m Calestogut credt sales and collections were sin000 and $398 000, respectively and s1910 in accounts receivable were written oft 1000 and 590 o vely December 2012 Calistog's accounts receivable at December 2016 ο Ο μειο ο Ο διειοο ο ο Ο κό
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