Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 5: on november 30, 2018, hopkins agency h

Question 5: On November 30, 2018, Hopkins Agency has accounts receivable of $180.000 and a...

70.2K

Verified Solution

Question

Accounting

image
Question 5: On November 30, 2018, Hopkins Agency has accounts receivable of $180.000 and a credit balance of $1,000 receivables method to determine uncollectible receivables 2% of receivables will not be collected. in Allowance for Doubtful Accounts. Hopkins uses the percentage of . Manogement estimates that What is the cash (net) realizable value on November 30, 2018? a. b. On December 31, the accounts receivable balance is $200,000 and Allowance for Doubtful Accounts is $1,000, What would the balance in Allowance for Doubtful Accounts be after the adjustment on December 31, 2018 to record uncollectibles? 200.000%.02. 3.00c. For what amount would the adjustment be in part (b)? yooo Bad dib opdWhat account would be debited to record the adjustment in part (b) above? Allolcade. During January of the follow year, a customer's $2,000 account is written off. What account would be debited to record this transaction? count 44040 f. What is cash (net) realizable value on January 31, 2019? 480O0 g. On what financial statement will each of the following be reported: Ticee Stoka a) Bad Debt Expense aklance Shtet (b) Allowance for Doubtful Accounts

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Natasha plans to deposit $4000 per year in her account for each of the next 4...

Civil Engineering
1.2K views

A 250 meter tall vertical concrete tower is exposed to horizontal wind load that deforms it...

Algebra
1.2K views

Expand log? (1/xy3?) completely. Keep variables in the order that given in the original term....

Algebra
1.2K views

Find the slope of the line shown If the slope is undefined input DNE 4104...

Accounting
1.2K views

Remarkable Accountants Co. sells $ 5 comma 000 comma 000 of...

Accounting
1.2K views

Is b correct Which of the following journal entries is correct when...

Accounting
1.2K views

zz company acquired $100000 face value of the outstanding bonds of c company on january...

Accounting
1.2K views

I am writing my essay on Tesla. Identify changes in trade policy trends that impacted...

Accounting
1.2K views

Bir irketin alacak hesaplarnn yalanmas, 9.000 $'n tahsil edilemeyeceinin tahmin edildiini gsterir. pheli Hesaplar iin...

Accounting
1.2K views

Complete the annuity due for the following. (Do not round intermediate calculations. Round your answer...

Accounting
1.2K views

Additional informotion: 1. The investment in equity securities account includes an investment in common stock...

Accounting
1.2K views

ASAP PLEASE Variable expense rates per unit of sales are...