Question: 14. Two (2) methods for computing or estimating uncollectible accounts are: A) Percentage (%) of Assets and percentage (%) of Net Sales. B) Percentage (%)

 14. Two (2) methods for computing or estimating uncollectible accounts are:

14. Two (2) methods for computing or estimating uncollectible accounts are: A) Percentage (%) of Assets and percentage (%) of Net Sales. B) Percentage (%) of Accounts Receivables and percentage (%) of Total Revenue. C) Percentage (%) of Current Assets and percentage (%) of Net Sales. D) Percentage (%) of Accounts Receivables and percentage (%) of Net Sales. 15. An aging of a company's accounts receivable (A/R) indicates that $9,000 are estimated to be uncollectible as an Ending Balance in the Allowance for Doubtful Accounts (ADA). The ADA account currently has a S1,100 credit balance, the adjustment to record bad debts for the period will require a A) debit to Bad Debts Expense for $9,000. B) debit to Allowance for Doubtful Accounts for $7,900. C) debit to Bad Debts Expense for $7,900. D) credit to Allowance for Doubtful Accounts for $9,000. 16. An aging of a company's Accounts Receivable indicates that $4,000 are estimated to be uncollectible as an Ending Balance in the Allowance for Doubtful Accounts (ADA). The ADA account currently has a $1,200 credit balance, the adjustment to record bad debts for the period will require a A) Debit (DR) to Bad Debts Expense for $4,000. B) Debit (DR) to Allowance for Doubtful Accounts for $2,800. C) Debit (DR) to Bad Debts Expense for $2,800. D) Credit (CR) to Allowance for Doubtful Accounts for $4,000. 17. Using the percentage (%) of Accounts Receivables method for recording bad debts expense, the Ending Balance in the Allowance for Doubtful Accounts (ADA) is computed or estimated at $15,000. If the current balance of the ADA Account is $3,000 credit (CR) before adjustment, what is the amount of Bad Debts expense for that period? A) $15,000 B) $12,000 C) $18,000 D) $3,000 18. Using the allowance method, the Ending Balance in Uncollectible Accounts (ADA) for the year is estimated to be $28,000. If the balance for the Allowance for Doubtful Accounts (ADA) is a $7,000 debit (DR) before adjustment, what debts expense for the period? A) $7,000 B) $21,000 C) $28,000 D) $35,000 is the amount of bad

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