Question
In: Accounting
3. Using the information below, perform the following tasks: Account Receivables Not Past Due 0-31 days...
3. Using the information below, perform the following tasks:
|
Account Receivables |
Not Past Due |
0-31 days Past Due |
31-60 days Past Due |
61-90 days Past Due |
+ 90 days Past Due |
|
350,000 |
175,000 |
83,000 |
38,000 |
12,000 |
|
|
Percentage of not collecting |
2% |
8% |
22% |
58% |
78% |
-
Calculate the estimated amount of receivables that might not be collected
-
Perform the adjustment(debit/credit) using the allowance method.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due Total...
Daley 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
$
590,000
$
400,000
$
94,000
$
40,000
$
22,000
$
34,000
Percent uncollectible
2
%
3
%
6
%
8
%
11
%
Exercise 7-8 Aging of receivables method LO P3
a. Complete the below table to calculate the estimated
balance of Allowance for Doubtful Accounts using aging of...
Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due Total...
Daley 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
$
580,000
$
398,000
$
92,000
$
38,000
$
20,000
$
32,000
Percent uncollectible
3
%
4
%
7
%
9
%
12
%
a. Complete a table to calculate the estimated
balance of Allowance for Doubtful Accounts using aging of accounts
receivable.
b. Prepare the adjusting entry to record...
Please perform the following tasks using a Timer Control: When an NO Push Button (I:0/0) is...
Please perform the following tasks using a Timer Control:
When an NO Push Button (I:0/0) is pressed (I0) and released, a
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single-active cylinder will be pushed forward.
The piston will remain at its position for another 5 seconds
(T4:1) and then it will automatically retract. The pilot light will
be off and the timer will also be automatically reset. The whole
cycle can then be repeated.
Using the following code perform ALL of the tasks below in C++: ------------------------------------------------------------------------------------------------------------------------------------------- Implementation: Overload input...
Using the following code perform ALL of the tasks below in
C++:
-------------------------------------------------------------------------------------------------------------------------------------------
Implementation:
Overload input operator>> a bigint in the following
manner: Read in any number of digits [0-9] until a semi colon ";"
is encountered. The number may span over multiple lines. You can
assume the input is valid.
Overload the operator+ so that it adds two bigint together.
Overload the subscript operator[]. It should return the i-th
digit, where i is the 10^i position. So the first...
Days Past Due Customer Balance Not Past Due 1-30 31-60 61-90 91-120 over 120 Subtotals 553,900...
Days Past Due
Customer
Balance
Not Past Due
1-30
31-60
61-90
91-120
over 120
Subtotals
553,900
307,500
132,900
60,900
20,500
18,300
13,800
The following accounts were unintentionally omitted from the
aging schedule:
Customer
Due Date
Balance
Arcade Beauty
May 28, 20Y1
$3,000
Creative Images
Sept. 7, 20Y1
6,200
Excel Hair Products
Oct. 17, 20Y1
800
First Class Hair Care
Oct. 24, 20Y1
2,100
Golden Images
Nov. 23, 20Y1
700
Oh The Hair
Nov. 29, 20Y1
3,600
One Stop Hair Designs...
On December 31 an aging of receivables revealed the following Age in days Amount % Uncollectible...
On December 31 an aging of receivables revealed the
following
Age in days Amount % Uncollectible
0-30 400,000 0.5%
31-60 100,000 1.5
61-90 60,000 10.0
91-120 20,000 50.0
Over 120
0
99.0
The allowance for doubtful accounts has an unadjusted debit
balance of $200.
Record the year end adjusting entry for uncollectible
accounts.
Problem 8-3A Presented below is an aging schedule for Concord Corporation. Number of Days Past Due...
Problem 8-3A
Presented below is an aging schedule for Concord
Corporation.
Number of Days Past Due
Customer
Total
Not
Yet Due
1–30
31–60
61–90
Over 90
Anders
$ 24,900
$11,200
$13,700
Blake
38,600
$ 38,600
Coulson
58,500
16,800
5,800
$35,900
Deleon
33,300
$33,300
Others
131,200
97,100
15,200
13,300
5,600
$286,500
$152,500
$32,200
$27,000
$35,900
$38,900
Estimated Percentage
Uncollectible
3%
5%
12%
27%
43%
Total Estimated Bad Debts
$ 35,845
$ 4,575
$ 1,610
$ 3,240
$ 9,693
$16,727
At December...
Write C++ programs to perform the following tasks. In the program descriptions below, example input and...
Write C++ programs to perform the following tasks. In the
program descriptions below, example input and output is provided.
NOTE: You don’t need arrays to solve any of these problems. You
should NOT use arrays to solve any of these problems.
• stat.cpp: Let the user input a one or more integers, space
separated, on a single line (as seen below), then work out and
display the sum, average, sum of squares and population variance of
the numbers. Remember, you...
Using the Adjusted Trial Balance for merchandising company, perform the following tasks: Prepare an Income Statement...
Using the Adjusted Trial Balance for merchandising company,
perform the following tasks:
Prepare an Income Statement in multiple-step format with
subtotals for net sales, gross profit, income before taxes, and net
income. (20 points)
Calculate Gross Profit Margin. (5 points)
Tower Corporation
Adjusted Trial Balance
at 31 December 2019
Debit
Credit
Cash
7,590
Accounts Receivable
5,910
Merchandise Inventory
4,870
Prepaid Insurance
2,550
Equipment
...
C++ coding question From the text file given to you- “worldpop.txt”, perform the following tasks using...
C++ coding question
From the text file given to you- “worldpop.txt”, perform the
following tasks using Boolean function. PS-*Write separate codes
for each task* Task 1. Display the names of the countries with: 1.
Population >=1000,000,000 2. Population <= 1000,000 Task 2.
Display the names of the first 10 countries Task 3. Display the
names of the last 10 countries
contents of worldpop.txt:
Afghanistan 32738376
Akrotiri 15700
Albania 3619778
Algeria 33769669
Andorra 72413
Angola 12531357
Anguilla 14108
Argentina 40677348
Armenia...
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