Use the following to answer questions 8 – 11 The following information pertains to RC, Inc. for the | month of December: Credit sales $900,000 Accounts payable 38,500 Accounts receivable 55,400 Allowance for Uncollectible accounts 400 credit Cash sales 300,000 RC uses the percent of receivables method and estimates it will not collect 5% of accounts receivable. 8. $ Determine the ending balance for the Allowance for Uncollectible Accounts 9. $ Determine the appropriate amount to record for Bad Debt expense _Assuming the Allowance for Uncollectible accounts had a $700 debit balance, determine the amount to record for Bad Debt expense 10. 11. $ After recording bad debt expense, the Net Accounts Receivable is:

Use the following to answer questions 8 – 11 The following information pertains to RC, Inc. for the | month of December: Credit sales $900,000 Accounts payable 38,500 Accounts receivable 55,400 Allowance for Uncollectible accounts 400 credit Cash sales 300,000 RC uses the percent of receivables method and estimates it will not collect 5% of accounts receivable. 8. $ Determine the ending balance for the Allowance for Uncollectible Accounts 9. $ Determine the appropriate amount to record for Bad Debt expense _Assuming the Allowance for Uncollectible accounts had a $700 debit balance, determine the amount to record for Bad Debt expense 10. 11. $ After recording bad debt expense, the Net Accounts Receivable is:

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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Subject: accounting
Y8 17 and 18 Important: Don't include signs like $ or % in your answers. Pay close attention to the rounding instructions. For example, if the question instructs you to "round to the nearest cent" or "round to two decimal places", and the answer you found is $12,678.04678, you need to submit 12678.05. Some questions may ask you to round to the nearest whole number or nearest dollar, in which case the answer would be 12678. Tolerance: Be careful with rounding and do not round until you arrive at the final answer. Answer tolerance is ±1 at the last digit based on the decimal place accuracy required by that question. For example, if a question asks you to round to the nearest cent (two decimal places) and the correct is $1,235.06, answers within ± 0.01 ($1,235.05 to $1,235.07) will count as correct. As another example, if a question asks you to round a percent answer to one decimal place and the correct answer is 4.6%, answers within ± 0.1% (4.5% to 4.7%) will count as correct.…
On this question may you please explain how it came to 41880 instead of 41860
ANotes X A Soluti x A Notes x A Soluti x A Tuton X Answ X OTgzNDkyOTcw/a/MJU1MTU2OT94NZAX/details 2. The following trial balance was extracted from the books of Syarikat Wawa at 31 Mac 2020: RM 83,030 1,620 800 145,800 10,000 8,500 232,950 68,000 3,600 8,400 4,300 9,600 3,180 28,400 16,440 Particulars Capital Carriage in Carriage out Purchases Office equipment Motor vehicle Sales Wages and salaries Rent and rates Lighting and heating Vehicles running cost Telephone expenses General office expenses Debtors Creditors Provision for depreciation: Motor vehicle Office equipment Provision for doubtful debts 4,250 4,000 500 13,570 6,200 Drawings Cash at bank Cash in hand Stock as at 1 April 2019 Return inwards Return outwards 300 8,000 3,800 2,900 Additional information as at 31 Mac 2020: Stock on hand was valued at RM8,800 Rent and rates prepaid RM1,200 Wages and salaries RM1,750 iv. i. ii. i. Depreciation is to be provided as follows: a. Motor vehicles b. Office equipment 50 % reducing…
Q7
question #2 Engineering Economics
isn't the 5,000 not included in the computation?
None
for requirement 17, why do you multiply 120 by 11, where does the 11 come from?
Used this basic formula.
Calculate: 1 1 (1+ r)" х 30 where r=0.093, and n=16
Find the sum of the terms: 26 O 74.23 69.38 O 71.12 O 70.29 O 72.97 (1+0.04)² + 26 (1 +0.04)³ 26 (1+0.04)4 (Round intermediate calculations to 5 decimal places, e.g. 5.27525 and your final answer to 2 decimal places, e.g. 52.75.)