Business, 19.04.2021 16:00 Arianahinton9856
Required information Skip to question [The following information applies to the questions displayed below.] ABC Company prepared the following aging of receivables analysis at December 31. Days Past Due Total 0 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable $ 640,000 $ 410,000 $ 104,000 $ 50,000 $ 32,000 $ 44,000 Percent uncollectible 3 % 4 % 7 % 9 % 12 % a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $13,400 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $2,400 debit. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method.
Answers: 2
Business, 21.06.2019 17:30, gstinson98
Which composition of transformations will create a pair of similar, not congruent triangles? a rotation, then a reflectiona translation, then a rotationa reflection, then a translationa rotation, then a dilationmark this and retumsave and exit
Answers: 2
Business, 22.06.2019 09:50, winterblanco
phillips, inc. had the following financial data for the year ended december 31, 2019. cash $ 41,000 cash equivalents 75,000 long term investments 59,000 total current liabilities 149,000 what is the cash ratio as of december 31, 2019, for phillips, inc.? (round your answer to two decimal places.)
Answers: 3
Business, 22.06.2019 15:30, graciemccain
On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.
Answers: 3
Business, 22.06.2019 19:00, 3peak101
Andy purchases only two goods, apples (a) and kumquats (k). he has an income of $125 and can buy apples at $5 per pound and kumquats at $5 per pound. his utility function is u(a, k) = 6a + 2k. what is his marginal utility for apples and his marginal utility for kumquats? andy's marginal utility for apples (mu subscript a) is mu subscript aequals 6 and his marginal utility for kumquats (mu subscript k) is
Answers: 2
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Mathematics, 01.03.2021 22:50
Mathematics, 01.03.2021 22:50
Mathematics, 01.03.2021 22:50
Mathematics, 01.03.2021 22:50