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9) A company received a bank statement showing a balance of $62,300. Reconciling items were outstanding checks of $1,450 and a deposit in transit of
9) A company received a bank statement showing a balance of $62,300. Reconciling items were outstanding checks of $1,450 and a deposit in transit of $8,500. What is the company's adjusted bank balance? A) $60,850 B) $69,350 C) $72,250 D) $70,850 10. Ace Co. prepared an aging of its accounts receivable at December 31, 2018 and determined that the net realizable value of the receivables was $600,000. Additional information is available as follows: Allowance for uncollectible accounts at 1/1/18-credit balance $ 68,000 Accounts written off as uncollectible during 2018 46,000 Accounts receivable (final adjusted value) at 12/31/18 650,000 For the year ended December 31, 2018, Ace's bad debt expense (journal entry) would be 11. Nenn Co.'s allowance for uncollectible accounts was $190,000 at the end of 2018 and $180,000 at the end of 2017. For the year ended December 31, 2018, Nenn reported bad debt expense of $26,000 in its income statement. What amount did Nenn debit in 2017 to write off actual bad debts? a. $10,000 b. $16,000 C. $26,000 $36,000 e. None of the above da
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