The following information relates to a company’s accounts receivable: accounts receivable balance at the beginning of the year, $320,000; allowance for uncollectible accounts at the beginning of the year, $21,000 (credit balance); credit sales during the year, $1,050,000; accounts receivable written off during the year, $12,000; cash collections from customers, $950,000. assuming the company estimates that future bad debts will equal 9% of the year-end balance in accounts receivable.

1.calculate the year-end balance in the allowance for uncollectible accounts.. ending balance?

2. calculate bad debt expense for the year.. bad debt expense?

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Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000.  ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account.  iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620.  iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account.  v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books.    required: 1. prepare the journal entries to correct the errors.  (narrations required)                    14.5 marks  2.    prepare the suspense account showing clearly the original trial balance error.          8 marks

United continental holdings, inc., (ual), operates passenger service throughout the world. the following data (in millions) were adapted from a recent financial statement of united. sales (revenue) $38,901 average property, plant, and equipment 17,219 average intangible assets 8,883 1. compute the asset turnover. round your answer to two decimal places.