Ask Experts Questions for FREE Help !
Ask
    Christian303's Avatar
    Christian303 Posts: 1, Reputation: 1
    New Member
     
    #1

    Dec 5, 2011, 11:11 PM
    Figuring out an adjustment for the Allowance of Doubtful Accounts.
    This is a question for an accounting report that I am 99% done with other than this 1 adjustment. Here is what I am given:

    Unadjusted Trial Balance
    Allowance for doubtful accounts D $0 C $822


    Question b1. An examination of customers' accounts shows that accounts totaling $662 should be written off as uncollectible. Using an aging of receivables, the company determines that the ending balance of the Allowance for Doubtful Accounts should be $709.

    Question b2. Adjustment needed to obtain the correct ending balance of the Allowance for Doubtful Accounts
    Necessary Adjustment $________




    That's all I have, I think. Please let me know if you can help!

Check out some similar questions!

Accounts receivable and allowance for doubtful accounts [ 1 Answers ]

At the close of its first year of operations, December 31, 2010, Ming Company had accounts receivable of $540,000, after deducting the related allowance for doubtful accounts. During 2010, the company had charges to bad debt expense of $90,000 and wrote off, as uncollectible, accounts receivable of...

Accounts Receivable and Allowance for Doubtful Accounts [ 2 Answers ]

IF a company sold$ 60000 of merchandise on credit.and Wrote off $10000 of uncollectible accounts receivable.Received $20000 cash in payment of accounts receivable. In adjusting the accounts , the company estimated that 0.5% of accounts receivable will be uncollectible. How can I account the ...

Allowance for Doubtful Accounts [ 1 Answers ]

An aging of a company's accounts receivable indicates that $4,000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1,200 debit balance, the adjustment to record bad debts for the period will require what type of entry?


View more questions Search
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.