题目内容

Undertheallowancemethodforuncollectiblereceivables,theentrytorecorduncollectible-accountexpensehaswhateffectonthefinancialstatements?

A. Decreasesowners’equityandincreasesliabilities
B. Increasesexpensesandincreasesowners’equity
C. Decreasesassetsandhasnoeffectonnetincome
Decreasesnetincomeanddecreasesassets

查看答案

搜索结果不匹配？点我反馈

更多问题

GrahamCompanyusesthepercent-of-salesmethodtoestimateuncollectible.Netcreditsalesforthecurrentyearamountto$130,000andmanagementestimates3%willbeuncollectible.Allowancefordoubtfulaccountspriortoadjustmenthasacreditbalanceof$2,000.Theamountofexpensetoreportontheincomestatementwillbe

A. $3,900.
B. $1,000.
C. $5,200.
D. $5,900.

GrahamCompanyusesthepercent-of-salesmethodtoestimateuncollectible.Netcreditsalesforthecurrentyearamountto$130,000andmanagementestimates3%willbeuncollectible.Allowancefordoubtfulaccountspriortoadjustmenthasacreditbalanceof$2,000.ThebalanceofAllowanceforDoubtfulAccounts,afteradjustment,willbe

A. $7,900.
B. $1,000.
C. $5,900.
D. Cannotbedeterminedfromtheinformationgiven.

Estimatinguncollectibleaccountsbyanalyzingindividualaccountsreceivableaccordingtothelengthoftimetheyhavebeenoutstandingisknownasthe:

A. directwrite-offmethod.
B. percent-of-salesmethod.
C. allowancemethod.
D. aging-of-receivablesmethod.

SIAS corp. held trading investments valued at $55,000 at December 31, 2008. These investments cost SIAS $50,000. What is the appropriate amount for SIAS to report for these investments on the December 31, 2008, balance sheet?

A. $50,000
B. $55,000
C. $5,000 gain
D. cannot be determined from the data given