Account Receivables

Question by kerry: Need explanation for receivables question? Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are $ 10,000. If the balance of the Allowance for Doubtful Accounts is $ 2,000 debit before adjustment what is the balance after adjustment? a. $ 10,000 b. $ 12,000 c. $ 8,000 [...]

Question by abs: accounting about receivables? The maturity value of a note receivable is always the same as its face value. (T/F) Best answer: Answer by zeuzFalse Add your own answer in the comments!

Question by misspriss1980: Give some example of internal control procedures for receivables.? Give some example of internal control procedures for receivables. accounting 100 Best answer: Answer by t DHaving the reciever sign for the package when it arrives, versus leaving on the doorstep. Having all receivables logged immediatly upon receipt. Video taping your receiving dock. [...]

Question by Kelli S: the 2 methods of accounting for uncollectible receivables are the allowance method and the? a. cost method b. direct write-off method c. equity method d. interest method Best answer: Answer by NOBODYcost method—-don’t you have a book or listen in class? What do you think? Answer below!

Question by Mr. Thomas: Is alright to book sales and receivables from customers now in anticipation of next year’s sales? This action will increase current assets and income before taxes. Is this acceptable accounting? Is it ethical? Who could be harmed by it? What steps might management take? Best answer: Answer by ThunderNo, it is [...]

Question by Mr. Thomas: Is alright to book sales and receivables from customers now in anticipation of next year’s sales? This action will increase current assets and income before taxes. Is this acceptable accounting? Is it ethical? Who could be harmed by it? What steps might management take? Best answer: Answer by ThunderNo, it is [...]

Question by nesta: what sort of microsoft excel knowledges that can be useful to account payables and receivables position? this is for assistant accountant position Best answer: Answer by David WUnderstanding Excel in general would be useful. Check out http://www.ilearnexcel.com for a collection of training videos. Dave Add your own answer in the comments!

Question by Michael: Accounting (Receivables? why do you debit interest revenue on dishonored notes receivable before you actually receive the money? Best answer: Answer by capwest5aA dishonored note means that it’s NOT going to be paid (most likely). So you have to remove any accrued interest revenue that has been recorded. That is done by [...]

Question by Jennifer: ACCOUNTING 1: RECEIVABLES? What kind of an account (asset, liability, ect.) is allowance for a doubtful accounts, and is its normal balance a debit or a credit? Best answer: Answer by Shonda NHere there are good sites on business http://infobusiness1.notlong.com/1AARmyd Add your own answer in the comments!

Question by laura: Entries for uncollectible receivables using allowance method (accounting)? Journalize the following transactions in the accounts of Food Unlimited Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables: Jan. 18: Sold merchandise on account to Wings Co., $ 13,200. The cost of the merchandise sold was $ [...]