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Which report identifies the percentage of accounts receivable that are delinquent by 90 days or more?
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- At the end of the fiscal year, accounts receivable has a balance of $100000 and allowance for doubtful accounts has a balance of $ 7000. the expected net realizable value of the accounts receivable is?The days' sales uncollected ratio is used to: Measure how many days of sales remain until the end of the year. Determine the number of days that have passed without collecting on accounts receivable. Identify the likelihood of collecting sales on account. D. Estimate how much time is likely to pass before the amount of accounts receivable is collected.A company computes its accounts receivable turnover to be 20. Based onthis information, find the average collection period. If the company has a credit collection period of 30 days, explain the relationship between thecredit collection period and the average collection period.
- The year-end balance in accounts receivable is $300,000, the Allowance for Uncollectible Accounts had a beginning of year balance of $2,500 credit, accounts written off during the year were $2,200. An aging of accounts receivable determined that $6,000 of receivables will be uncollectible. What is the net realizable value of accounts receivable at year end? $298,700 $294,000 $293,700 $294,300What is a meaning of decrease in accounts receivable of $16,000 for the year ?trout lumber Yard has a current accounts receivable balance of $442016. Credit sales for the year just ended were $9358610 a. What is the receivables turnover? b. What is the day's receivables? c. How long did it take on average for credit customers to pay off their accounts during the past year? a. Receivables turnover _____ times b. Days sales in receivables ____ days c. Average collection period_____ days
- A wants you to calculate its average days in accounts receivable for theyear. Its beginning and ending balances for Accounts Receivable were $11,500 and$17,250, including GST, respectively. The beginning and ending balances for theAllowance account were $350 and $500, respectively. All sales are on credit andamounted to $135,000, while the ending balance for Sales Returns & Allowances was$10,000. What is the average days in accounts receivable?a. 35.26.b. 41.98.c. 40.73d. 36.50.Before the year-end adjustment the Allowance for Doubtful Accounts has a debit balance of $5,000. Using the aging of receivables method, the desired balance of the Allowance for Doubtful Accounts is estimated as $35,000. a) What is the uncollectible accounts expense for the period? b) What is the journal entry required? c) What is the balance of the Allowance for Doubtful Accounts after adjustment? d) If the accounts receivable balance is $325,000, what is the net realizable value of the receivables after adjustment?On December 15, the accounts receivable balance was $50,000 and the balance in the allowance for doubtful accounts was $5,000. That morning, a $1,000 uncollected account was written off. What is the net realizable value of accounts receivable immediately after the write-off? $49,000 $46,000 $44,000 $45,000
- If the accounts receivable turnover is 42 days, what is the account receivable turnover ratio? * a. 7.14 times b. 8.69 times c. None of the choices d. 4.52 timesHow to calculate the total outstanding receivables?? For example if at the Dec 31 2013, total sales on account and invoiced during the year, the account receivable balance outstanding at the year end, the date when the invoice was issued and the date when the invoice was paid off was given!1. A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Days Outstanding Accounts Receivable Est. Percent Uncollectiable 1-30 days $62,000 2% 31-60 days $42,000 5% 61-90 days $25,000 11% Over 90 days $7,000 52% Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $1,000. Under the aging-of-receivables method, the Uncollectible - Account Expense at year-end is: A. $10,730 B. $8,730 C. $9,730 D. $1,240 Please show all steps. Thanks
