Accounts Receivable Balance

Related BrainMass Solutions

• Working with Receivables

  Net Accounts receivable at October 31st can be calculated by deducting Allowance for Uncollectible Accounts balance from Accounts Receivable balance as follows: - Accounts Receivable 56,800 Less: Allowance for Uncollectible Accounts 2,200 Net

• Tiny Company: Compute the balance of accounts receivable

  that account receivables should show: Accounts Receivable Balance = Total Accounts Receivable - Collections from Customers Accounts Receivable Balance = $68,000 - $48,000 Accounts Receivable Balance = $20,000 Amount of overage

• Accounting problems for Bogus Company

  In Bogus Company's balance sheet, the Accounts Receivable would appear as follows: - Accounts Receivable 293,200 Less: Allowance for Doubtful Accounts 3,900 Net Accounts Receivable 289,300 Note: Please note that the balance of the

• Allowance for Doubtful Accounts

  The balance in accounts receivable is 185,600-1,500 = $184,100 The balance in the allowance account is 16,000-1,500 = 14,500 The balance sheet presentation is Accounts Receivables, gross 184,100 Less: Allowance for doubtful accounts (14,500) Accounts

• Calculate Uncollectible Accounts Expense and Allowance

  The balance of that account, using the Accounts Receivable Aging Method should be equal to the estimate given by the aging of accounts receivable accounts.

• ABC company estimate sales method accounting

  During 2005, ABC wrote-off accounts receivable totaling $1,800 and made credit sales of $100,000. After the adjusting entry, the December 31, 2005, balance in the Uncollectible Accounts Expense would be ________. 11.

• Accounts Receivable for after write-off entries

  Computations: Accounts Receivable (beginning balance)...............................$50,000 Less: Accounts receivable written-off.......................................($4000) Accounts Receivable (ending balance)................................

• Accounts receivable balance

  We use this equation to calculate the accounts receivable balance for each Age of receivable Receivable Balance = Bad debt/% uncollectible 0-30 days - Receivable balance = 1,750/0.5% = 350,000 31-60 days - Receivable balance = 1,500/1.5% = 100,000

• The ledger of Elburn Company

  (b) If Allowance for Doubtful Accounts has a credit balance of $2,100 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be (1) 1% of net sales, and (2) 10% of accounts receivable.

• Accounts Receivables

  Compute the ending balance of accounts receivable on 12/31/10. b. Compute the accounts receivable turnover ratio for 2010. c. Computer the average collection period in days. a.