Ask Experts Questions for FREE Help !
Ask
    newbeach27's Avatar
    newbeach27 Posts: 2, Reputation: 1
    New Member
     
    #1

    Apr 8, 2013, 09:23 AM
    free accounting helpDuring 2013, its first year of operation Bing auto parts experien
    During 2013, its first year of operation Bing auto parts experienced the following:
    Sales on account 320,000
    Cash sales 680,000
    Collections of account receivable 295,000
    uncollectible accounts charged off during the year 1,400

    assume bing auto parts uses the allowence method of accounting for uncolletible accounts and estimates the 1 percent of its sales on account will not be collected. Answer the following questions:

    1)what is the accounts reciveable balance at DEC 31,2013
    2)What is the ending balance of the allowance for doubtful accounts at DEC 31,2013
    3)what is the amount of uncolltible accounts expense for 2013
    4)what is the net realizable value of accounts recievable at DEC 31,2013
    newbeach27's Avatar
    newbeach27 Posts: 2, Reputation: 1
    New Member
     
    #2

    Apr 8, 2013, 09:28 AM
    Free accounting helpDuring 2013, its first year of operation Bing auto parts experien
    Poole enterprises loaned 30,000 to boyd Co. on September 1,2013. For one year at 6% interest

    Required:
    Record these general journal entries for poole enterprise:
    1: the loan to boyd co.
    2:the adjusting entry at DEC 31,2013
    3: the adjusting entry and collection of the note on September 1, 2014
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
     
    #3

    Apr 8, 2013, 09:30 AM
    What do YOU think ?
    While we're happy to HELP we won't do all the work for you.
    Show us what you have done and where you are having problems..

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Selling Auto Parts [ 2 Answers ]

I have a Pontiac that has just been confirmed a total loss. However it is just the back end of the car that is ruined. Is there anywhere or any place that will buy the other parts that are still any use? If anyone could please help me out I would really appreciate it!

Need help to import auto parts to Japan [ 21 Answers ]

Hello. I live in Japan and need help for buying genuine auto parts only sold in USA. I need somebody to buy parts from car dealer like Mercedes-USA and export them to Japan with reasonable commission. I would like to start from importing a few auto parts for my private use to see how it goes. Any...

Grand Theft Auto of Parts [ 3 Answers ]

okay so I basically messed up hanging around with the wrong people. Me and two other people randomly drove by a motorcycle and threw it in the truck. We stripped the parts from the bike(only some). Then we put the motorcycle in a near by court. I had some fairings and gauge and other stuff and the...

Operation and/or parts manual [ 1 Answers ]

Just bought a house which has a Magic Chef forced air furnace/ac (gas heat, elec ac) model #G8A75DC42-10. I'm trying to obtain some information on this unit however I cannot find anything. Any help would be very appreciated.


View more questions Search