Estimating Uncollectible Accounts and Reporting Accounts Receivable LaFond Company analyzes its accounts receivable at December 31, and arrives at the aged categories below along with the percentages that are estimated as uncollectible

Age Group Accounts Receivable Estimated Loss %
Current (not past due) $250,000 0.5%
1-30 days past due 90,000 1
31-60 days past due 20,000 2
61-120 days past due 11,000 5
121-180 days past due 6,000 10
Over 180 days past due 4,000 25
Total accounts receivable $381,000

At the beginning of the fourth quarter of 2016, there was a credit balance of $4,350 in the Allowance for Uncollectible Accounts. During the fourth quarter, LaFond Company wrote off $3,830 in receivables as uncollectible.

a. What amount of bad debts expense will LaFond report for 2016?
b. What is the balance of accounts receivable that it reports on its December 31, 2016, balance sheet?
c. Set up T-accounts for both Bad Debts Expense and for the Allowance for Uncollectible Accounts.

Should the government be downsized? which functions should be cut back? which ones should be expanded?

Management discovers that a supervisor at one of its restaurant locations removes excess cash and resets sales totals throughout the day on the point-of-sale (pos) system. at closing, the supervisor deposits cash equal to the recorded sales on the pos system and keeps the rest. the supervisor forwards the close-of-day pos reports from the pos system along with a copy of the bank deposit slip to the company’s revenue accounting department. the revenue accounting department records the sales and the cash for the location in the general ledger and verifies the deposit slip to the bank statement. any differences between sales and deposits are recorded in an over/short account and, if necessary, followed up with the location supervisor. the customer food order checks are serially numbered, and it is the supervisor’s responsibility to see that they are accounted for at the end of each day. customerchecks and the transaction journal tapes from the pos system are kept by the supervisor for 1 week at the location and then destroyed. what control allowed the fraud to occur?

Which of the following tasks would be a line cook's main responsibility? oa. frying french fries ob. chopping onions oc. taking inventory of stocked dry goods od. paying invoices