The shodule g8 aing accounts for a com PrnyO1 Year 2020Account rectuble$20,000$ So00at theEstimate bagCurrent1-30 daysoverdue3 1- 60 days oveduemore than 6odays overdue(%5%to %20%$250031 S00The aliowance was estimeted by using the stheolole accounta.The allowanre count had a'Jebit balance of g400 beferetHe estimate was madeReouiredPrefare the adjusting bat to record bad debt expensefor 2entry

Age Accounts receivable Estimate % of Bd debts Estimated uncollectible accounts Current…

The shedule g8 a)ing ac cOunts For a compny geav 2020 Account rectubl $20,000 $ So00 $ 4000 $2500 31 S00 Estimate bog Curent 1-30 daysoverdue 3 1- 60 days ovedue more than 6o days overdue (% 5% lo% 20% To Tal The aliowance was estimeted by using the stheolule occounta. The allowanre count had a'Jebit balance of 400 befere tHe estimate was made Reauired Prepare the adjusting boat to recorad bad debt expense for ?01 entry

The shedule g8 a)ing ac cOunts For a compny geav 2020 Account rectubl $20,000 $ So00 $ 4000 $2500 31 S00 Estimate bog Curent 1-30 daysoverdue 3 1- 60 days ovedue more than 6o days overdue (% 5% lo% 20% To Tal The aliowance was estimeted by using the stheolule occounta. The allowanre count had a'Jebit balance of 400 befere tHe estimate was made Reauired Prepare the adjusting boat to recorad bad debt expense for ?01 entry

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Pachel corpolatian re Ports the per teining vecevicable Days Past Due 3-60 followinginfamethon to iti accounts cuNent 1-30 ever90 $2500 1200. $2000 Jhe companys cradit depaltment Plovided the following statement estima ter vegarding the pocent of occounts enfc ted to eventuallyy be writtenoff form. each category current veceveiNable receivables -30 days past due listed aboue aut standing rELENables 31-ho days past due 16 feceivables 6L-G0 days Pajt due receivable Cuer 20 days due. 90 Recold the company's uncollectible account afsuming it hal expense fredit balance for in its llawance Deuhtful accounts pror to the necessaty maling endjustment.
Date: Page No. B aue pastners shauing in pnofit in Hatid 3:2 there capltal 3.00.080 sespectivuly Theylmade doiawingsof 56o and 1250. They Shtitebl to 9.00.000 int on colpital on them. the year are Sbawing and 7% int on diau Their puofit 3. 50.cob. Al is entitud to balasy of werre. month I uehile Bis 6000 per entitled en sales.Damount is 6,ob.O00, prepare spescent of commission lappropsiation of yead 2020. gor the Dek. OPPO A53 ONancy photography 2021/01/29 12:07
More Info bay S per month in 2021. (Round to Derea Gompriuntlng Kiompind Presien Facfor Given 1.0000 Q 4808 0,3080 1.0800 0.9259 1.0000 0.9259 1.0800 1 7833 0.5608 0.3880 0 3019 0.2505 0.2163 0. 1921 0.1740 0.1601 2 1.1664 0.8573 2.0800 0.7938 0.7350 0.6806 0,6302 0.5835 3.2464 2.5771 3.3121 3.9927 3 1,2597 1.3605 1.4693 0.2219 0.1705 4 4.5061 5.8656 73359 8.9228 0.1363 0.1121 0 0940 0.0801 9. 1.5869 4 6229 5.2064 5.7466 6 2459 6.7101 1.7138 0.5403 0.5002 0.4632 10 6366 12.4876 14. 4866 8 1.8509 9 1.9990 10 2.1589 0.0690 0.1490 Print Done in the answer box.
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At the end year made of the Biscal adusting ently was. accrued cevenve salavies for the of first Paid cn the new fiscal for $500. The week 1250 were fiut fiday peviod. the (ntry to of The vecord eipense would be a? for 2ayıng the sa latres the weelk
What amount must be remitted if invoices dated June 28 for $815, July 7 for $780 and July 14 for $895, all terms 2/10 EO.M., are paid together on August 7? Round to the nearest cent -> SAVE P 3°C hp
windaer Lomparry buyan speratiuma un Jeruary 1, 2018. and uaa the everupe-coat muthud of pris ng imentury. Munagement a cortLmpluting a hungs ir iventury me.hada far 2021. The fuloniry infurmation ia evai uble for the peara 2018 202o. Net Income Computed Using FIFO Method S19.030 21.010 24,050 LTFO Method Average-Cost Method $16,130 17,910 25.120 2018 $12,070 10,70 2014 2020 () Prepare the juurnal entry resoury io rucord e dharye from the arrege oal mslhud te the PIFU malhud in 2021. (Creult acrouwl Etles ure uulomalcaly maented when amount is entered. De mot mdent mamally. If no entry s reyurcd, seleet "Ne tntry" for the and enter o for the amounts. ) Account Titla and txplanalion Debst Crudit (b) Deturmine net inceme ta be rup:rted for 2018, 201s, and 2020, aftar giving uffect to the charge in accountirg principle. Net Tarame 2018 2019 (c) Assume Windsor Company used the LIFO method instead of the average cost method during the years 2018-2020. In 2021, Wintsor changed to the FIFO…
Net pofit whew prods ppft is 640 corhiage sarriage inuoardls outward rent received and Othes expeses Qre I3600 will be.
Old MathJax webview at 8%. assume Cutnlnly pft :45892 O Loam (mert Tuble. O Jawma entues O "prarantidian CCIL, von cll) 1/1/x1 borrowed 100000 for 4 years at 8% assume quarterly prt=$5892 1)loan pament 2)journal entries 3)presentation (c/L and non c/L)
Calculate APR by table lookup (to nearest hundredth percent): PurchasePrice DownPayment Number ofmonthly payment Amountfinanced Total Payments $1,800 100 20 $1,700 1900 $ 0
lal Acc CO ng-20201 am ACCT301 Fall 2020/2021 (Sections 1, 2, and 81) 19 Revenue has a credit balance of OMR 15,000 in Muscat Co. if the dosing entry will made at the year end, ved The entry to close Revenue is: it of Select one: O a debit Income Summary OMR20,000, credit Revenue OMR20,000 Ob. debit Revenue OMR15,000, credit Ahmad Capital OMR15,000 Oc debit Revenue OMR15,000, credit Income Summary OMR15,000. d. debit Income Summary OMR15,000, credit Revenue OMR15,000 Clear my choice s page
YE3tcuBfirwShOSzu2prZ7nd44k0L-w/formResponse?pli=1 e following to answer the five questions below: owing accounts are extracted from the worksheet of X Company on ber 31, 2020 Sales Retums and Allowances S 410,000 Sales Discount 140,000 Sales 1,500,000 Salaries Expenses - Sales 52,000 Rent Revenue 22,000 Purchases Retums and Allowances 120,000 Purchases 600,000 Loss from write down of Inventory 17,000 Inventory, January 1, 2020 460,000 Interest Expense A 55,000 Gain from Sale of Building 23,000 Freight-out 14,000 Freight-in 30,000 Depreciation Expense - Sales 22,000 Cost of Goods Sold 600,000 n the data above, the inventory account sho ed a holon