Prepare a report showing the allowance as a percentage of receivables and receivables as a percentage of contribution revenue. Round percentages to one decimal. Fiscal Year-End 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 Allowance as a percentage of receivables Answer Answer Answer Answer Answer Answer Receivables as a percentage of contribution revenue Answer Answer Answer Answer Answer Answer b) Prepare a report showing the percentage of receivables in each aging category. Round percentages to one decimal. Fiscal Year-End 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 Aging of contributions receivable 0–30 days Answer Answer Answer Answer Answer Answer 31–60 days Answer Answer Answer Answer Answer Answer 61–90 days Answer Answer Answer Answer Answer Answer >90 days Answer Answer
Prepare a report showing the allowance as a percentage of receivables and receivables as a percentage of contribution revenue. Round percentages to one decimal. Fiscal Year-End 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 Allowance as a percentage of receivables Answer Answer Answer Answer Answer Answer Receivables as a percentage of contribution revenue Answer Answer Answer Answer Answer Answer b) Prepare a report showing the percentage of receivables in each aging category. Round percentages to one decimal. Fiscal Year-End 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 Aging of contributions receivable 0–30 days Answer Answer Answer Answer Answer Answer 31–60 days Answer Answer Answer Answer Answer Answer 61–90 days Answer Answer Answer Answer Answer Answer >90 days Answer Answer
Chapter9: Payroll, Estimated Payments, And Retirement Plans
Section: Chapter Questions
Problem 6MCQ: Estimated payments for individual taxpayers are due on the following dates: Twice a year on April 15...
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Question
100%
The following represents the aging of contributions receivable for McKenzie Health Foundation for
the historical years ended June 30, 2020, 2019, 2018, 2017, 2016, and 2015. Contributions receivable
vary significantly by year; however, contribution revenue has been fairly stable over the five-year
period.
Fiscal Year-End | ||||||
---|---|---|---|---|---|---|
6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | 6/30/2015 | |
Total contributions receivable | $1,003,900 | $1,225,650 | $913,550 | $1,907,700 | $625,800 | $483,750 |
Allowance for uncollectible contributions | 31,689 | 40,100 | 29,327 | 68,870 | 21,903 | 19,530 |
Total contribution revenue | 20,066,850 | 20,960,895 | 19,094,525 | 21,011,340 | 20,879,860 | 20,571,300 |
Aging of contributions receivable | ||||||
0–30 days | $546,000 | $394,800 | $457,800 | $1,547,700 | $625,800 | $456,750 |
31–60 days | 23,400 | 383,400 | 261,000 | 360,000 | 0 | 27,000 |
61–90 days | 389,500 | 447,450 | 194,750 | 0 | 0 | 0 |
>90 days | 45,000 | 0 | 0 | 0 | 0 | 0 |
$1,003,900 | $1,225,650 | $913,550 | $1,907,700 | $625,800 | $483,750 |
a) Prepare a report showing the allowance as a percentage of receivables and receivables as a
percentage of contribution revenue.
Round percentages to one decimal.
Fiscal Year-End | ||||||
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6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | 6/30/2015 | |
Allowance as a percentage of receivables | Answer
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Receivables as a percentage of contribution revenue | Answer
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b) Prepare a report showing the percentage of receivables in each aging category.
Round percentages to one decimal.
Fiscal Year-End | ||||||
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6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | 6/30/2015 | |
Aging of contributions receivable | ||||||
0–30 days | Answer
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31–60 days | Answer
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61–90 days | Answer
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>90 days | Answer
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