Account Receivables

Question by Jules: Bad Debt Reporting and Ethical Decision in Accounting? Marvin Company is a subsidiary of Hughes Corp. The controller believes that the yearly allowance for doubtful accounts for Marvin should be 2% of net credit sales. The president nervous that the parent company might expect the subsidiary to sustain its 10% growth rate, [...]

Question by Kim: How do the 3 accounting financial statements tie together and connect? How do the 3 accounting financial statements (balance sheet, income statement, cashflow statement) tie together and connect? Best answer: Answer by Ghost of Zeuz(1) Income statement: shows the “retained earnings” of the company for a particular period. (2) Balance sheet: shows [...]

Question by keith: What financial statements are involved when posting accounting entries? P&L statement, Balancesheet & cashflow statements. I know the entry will determine which statement is affects. But is there any other financial statement we have to post entries to? Best answer: Answer by Frank112Accounting entry postings affect the Balance Sheet, Income Statement and [...]

Question by : Why does the direct write-off method of accounting for bad debt usually fail to match revenues and expenses? I’m taking Accounting 201. Can someone help me with this question, please. Best answer: Answer by SandyOne important accounting principle is the notion of matching. That is, costs related to the production of revenue [...]

Question by ironwood9: Accounting question: What is the difference between bad debt recovery and bad debt reinstate ? Best answer: Answer by yaguruwell a bad debt recovery is collection of funds that you have already written off as uncollectable. A bad debt reinstate? Not really sure. What do you think? Answer below!

Question by ecstyle483: Accounting – Bad Debt Expense vs Allowance for Doubtful Accounts? I am unclear as to what the true definition and meaning of Bad Debt Expense and Allowance for Doubtful Accounts. For example, an adjustment of $ 15 is recorded for Bad Debt This would debit Bad Debt Expense by $ 15 This [...]

Question by ironwood9: Accounting question: What is bad debt reinstate ? I know what allowance for bad debt, or write offs are, and I know that if you’re lucky enough to get payment on debt you already wrote off it is called “Bad debt recovery,” but what is bad debt reinstate ? Best answer: Answer [...]

Question by New York Is The Best: in accounting are the accounts allowances for doubtful accounts and allowances for bad debt the same? the entry here would be Dr) Bad Debt Expense Cr) Allowances for Doubtful Accounts. is ADA the same as ABD i know what the accounts are its a very simple question is [...]

Question by merrie girl: In accounting, using the percentage of sales method to estimate bad debt expense is the new estimated percent? For example, a company had credit sales of $ 550,000 and estimates that 2% of credit sales would be uncollectable. The Accounts Receivable balance was $ 350,000 on the balance sheet date and [...]

Question by Brandon: With an A.A.S. degree in Accounting, where at is the demand for accounting jobs? I hope to be graduating with an A.A.S in Accounting from a community college by the end of next year. What cities and areas of the U.S. are in demand for associate degree earners looking for accounting jobs [...]