Business, 24.03.2020 05:31 christianmason9423
Domino Company uses the percent of receivables method to estimate uncollectible accounts expense. Domino began 2016 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $47,850 and $3,800, respectively. During the year, the company wrote off $2,820 in uncollectible accounts. In preparation for the company's 2016 estimate, Domino prepared the following aging schedule:
Number of Days Past Due Receivables Amount % Likely to be Uncollectible
Current $82,000 1%
0-30 $29,500 5%
31-60 $ 7,960 10%
61-90 $ 4,220 25%
Over 90 $ 3,900 50%
Total $127,580
What will Domino record as Uncollectible Accounts Expense for 2016?
a. $6,096
b. $2,296
c. $5,116
d. $2,820
Answers: 3
Business, 21.06.2019 21:40, fespinoza019
Forecasting as a first step in the team’s decision making, it wants to forecast quarterly demand for each of the two types of containers for years 6 to 8. based on historical trends, demand is expected to continue to grow until year 8, after which it is expected to plateau. julie must select the appropriate forecasting method and estimate the likely forecast error. which method should she choose? why? using the method selected, forecast demand for years 6 to 8.
Answers: 2
Business, 22.06.2019 16:00, leo4687
Advanced enterprises reports year-end information from 2018 as follows: sales (160,250 units) $968,000 cost of goods sold 641,000 gross margin 327,000 operating expenses 263,000 operating income $64,000 advanced is developing the 2019 budget. in 2019 the company would like to increase selling prices by 14.5%, and as a result expects a decrease in sales volume of 9%. all other operating expenses are expected to remain constant. assume that cost of goods sold is a variable cost and that operating expenses are a fixed cost. should advanced increase the selling price in 2019?
Answers: 3
Domino Company uses the percent of receivables method to estimate uncollectible accounts expense. Do...
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