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 1 year 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
Pilot Light (O:0/0) will be on and after 7 seconds (T4:0), a
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...
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
...
Use the Data Below to answer the following question below 0 0 2 0 5 3...
Use the Data Below to answer the following question below
0
0
2
0
5
3
1
12
0
0
0
1
6
0
1
1
2
8
1
3
1
6
2
4
0
16
17
0
8
0
3
0
0
1
2
5
2
0
2
1
5
0
7
0
1
0
0
1
0
0
3
1
9
4
1
3
0
1
1
1
0
7
1
9
2
0
1
1
1
1...
Your firm has receivables of NZD 4 Million due in one year. The following information applies:...
Your firm has receivables of NZD 4 Million due in one year. The
following information applies:
Current Spot Rate
US Interest Rate
New Zealand Interest Rate
.53
6.5%
11.0%
1-year Put options with a strike price of .52 are available for
a premium of .02.
Suppose that IRP & IFE presently exist between the US and
New Zealand.
Specify your firm’s proceeds for each of the following
situations:
A Forward Hedge
A Put Option Hedge
An Unhedged Position
A Money...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Consider a project generating the following cash flows over six years: Year Cash Flow (R in...
- Please explain why it is important to determine early and late, start and finish schedules?
- 8. if the project duration needs to be reduced then a. the activity with the lost...
- Part 4: CLO 4 Question 1 What are the factors that project manager need to consider...
- I need this in Java please: Behaviors. In the context of OOP, functions are called methods...
- Emotional Intelligence (EI) includes both personal and social competence. In the personal realm, a person with...
- How "democratic" is the U.S. democracy? What is "limited government" and how are the various levels...
ADVERTISEMENT