Account Receivables

Question by knowledge: Should i take a settlement opportuity for a bad debt on my credit report at 75% off the entire balance? The debt is a checking accout from 2005 where I allowed someone to rent a car in my name using my checking account, and i didn’t receieve the money from the person [...]

Question by pimlico1825: If the credit balance of Allowance for Doubtful Accounts account exceeds the amount of a bad debt being writt? If the credit balance of the Allowance for Doubtful Accounts account exceeds the amount of a bad debt being written off, the entry to record the write-off against the allowance account results in [...]

Question by sonyboy812: How is Bad debt accounted in the Balance Sheet? My understanding is that bad debt is charged as an expense in the income statement and also remove the amount of bad debt from the asset side of the balance sheet. if net assets = equity, then if asset is lower due to [...]

Question by Gaston: Using the following data from the comparative balance sheet of Rodenbeck Company, illustrate vertical analysis? December 31, 2009 December 31, 2008 Accounts receivable $ 520,000 $ 400,000 Inventory $ 840,000 $ 600,000 Total assets $ 3,000,000 $ 2,500,000 Vertical Analysis Dec. 31, 2009 Dec. 31, 2008 Amount Percentage Amount Percentage Accounts receivable [...]

Question by Cindy S: Using the balance sheet below how much is the current ratio? cash $ 25000 accounts payable $ 14000 accounts receivable $ 27000 notes payable due within one year $ 24000 merchandise inventory $ 24000 land $ 40000 notes payable due beyond one year $ 120000 equipment $ 33000 buildings $ 80000 [...]

Question by Jhawk: Help on finding retained earnings on Balance Sheet? Hi! I am reading over my notes and am having trouble figuring out where my teacher found this retained earnings number. Here is the layout of the balance sheet: Cash Accounts Receivable Inventory Net Fixed Assets Total Assets Acc. Payable Long Term Debt Common [...]

Question by Mastermason: Meredith Cleaners has the following balance sheet items.? Meredith Cleaners has the following balance sheet items. Accounts payable Accounts receivable Cash Notes payable Cleaning equipment Salaries payable Cleaning supplies Common stock Instructions Classify each item as an asset, liability, or stockholders’ equity. Best answer: Answer by capwest5aAccounts payable – liability Accounts receivable [...]

Question by black&angel: On December 31 of the current year, a company’s unadjusted trial balance included the following: ? On December 31 of the current year, a company’s unadjusted trial balance included the following: Accounts Receivable, debit balance of $ 97,250; Allowance for Doubtful Accounts, debit balance of $ 951. What amount should be debited [...]

Question by Tish: What would make a receivable leger balance less than the receivable control account? list some causes. help needed urgent Best answer: Answer by KayDeediscrepancies/bank errors, items not posted to ledger such as deposits, wires, fund transfers. Give your answer to this question below!

Question by Phillyfan23: How do credit reports base their reporting balance? I know about grace periods and how important utilization is on your credit rating. So let’s say I use my card for just paying my phone bill. I pay the phone bill the 15th, and then the credit card bill the 1st of the [...]