Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Nov 03, 2022

A business makes a allowance for doubtful accounts equal to 0.05 of its account receivables. At 30 April 2020 the allowance for doubtful accounts

A business makes a allowance for doubtful accounts equal to 0.05 of its account receivables. At 30 April 2020 the allowance for doubtful accounts was $850 At 30 April 2021 the net account receivable were $17100. How much is the increase in the allowance for doubtful accounts for the year ended 30 April 2021?

Step by Step Solution

★★★★★

3.46 Rating (162 Votes )

There are 3 Steps involved in it

Step: 1

Expert Answer General Guidance The answer provided b... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: J. David Spiceland, James Sepe, Mark Nelson

6th edition

978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163

More Books

Students also viewed these Accounting questions

Question

★★★★★

You are the audit senior of Ball Construction Corporation (BC), a small public company that enters into construction contracts with individuals and developers and builds to their specifications. BC...

Answered: 1 week ago

Question

★★★★★

You are the audit senior who has recently been assigned to the year-end audit of Ontario Agra Corporation (OAC). After the end of the audit fieldwork, the senior on the engagement resigned suddenly...

Answered: 1 week ago

Question

★★★★★

You are the audit senior at Zhang Zi Zi Associates. Below are issues fixed by your audit teams: 1. Valentine Creativity is a bespoke designer label located throughout Chine. 40% of the inventory can...

Answered: 1 week ago

Question

★★★★★

Riffa Football Club is planning to organize a football tournament to raise charity funds. The estimated costs per match Amount paid to Players, Coaches and Referees BHD 1,400; Ground Rent BHD 250;...

Answered: 1 week ago

Question

★★★★★

Explore the direction fields of the DEs y' = y2, y' = (y + l )2 , and y' = y2 + 1 . Describe their similarities and differences. Then answer the following questions: (a) Suppose each equation has...

Answered: 1 week ago

Question

★★★★★

There are 3 coins which when flipped come up heads, respectively, with probabilities 1/4, 1/2, 3/4. One of these coins is randomly chosen and continually flipped. (a) Find the expected number of...

Answered: 1 week ago

Question

★★★★★

The data in Table 1.8 are the GPAs of 30 first-year university students, recorded at the end of the first year. Construct a stem and leaf plot to display the distribution of the data. TABLE 1.8 Grade...

Answered: 1 week ago

Question

★★★★★

Toyota has decided to set up regional warehouses where some variants of the Scion will be customized and shipped to dealers on demand. Customizing and shipping on demand will raise production and...

Answered: 1 week ago

Question

★★★★★

Activities l image Viewer Dec 31 11:45 en @ 225% 999999999999999999.jpeg The parameter that should be added to all AJAX methods (get(), posto, and ajax() is (in other words: the mandatory parameter...

Answered: 1 week ago

Question

★★★★★

A hollow circular tube A (outer diameter dA, wall thickness tA) fits over the end of a circular tube B (dB, tB), as shown in the figure. The far ends of both tubes are fixed. Initially, a hole...

Answered: 1 week ago

Question

★★★★★

Workplace Violence Policy for CEO Loo to review. Include the following in your policy: warning signs employee reporting requirements how Storm Enterprises will maximize safety and security penalties...

Answered: 1 week ago

Question

★★★★★

An automated, swinging security light, hanging from the corner of a 35 ft tall building, is lighting the ground in front of the building. The angle 0 (see image below) is increasing at a rate of 0.6...

Answered: 1 week ago

Question

★★★★★

A department has three machines. The following figures indicate the departmental expenses for the most recent month Depreciation of machinery Depreciation of building Repairs to machinery Insurance...

Answered: 1 week ago

Question

★★★★★

In this module, you will plan a diving trip. You will need to know estimates of the pressure changes that you will experience. For example, if you estimate reaching depths of 200 ft (61.0 m). The...

Answered: 1 week ago

Question

★★★★★

PROBLEM 3 Given Diagram 3.1, answer Questions 3.1, 3.2 and 3.3 Diagram 3.1 Fa = 2,120 N Ff = 103 N 2,200 kg Question 3.1 What is the resultant force acting on the object? Your answer Question 3.2...

Answered: 1 week ago

Question

★★★★★

This question is a compound true/false question with 6 questions. The answers to 3 of these are true and the answers to the other 3 are false. Choose only the 3 "true" ones. (Note that the grader...

Answered: 1 week ago

Question

★★★★★

1. Blue Spruce Corp. compr una mquina nueva el 1 de octubre de 2019 a un costo de $134,000. La compaa estim que la mquina tendr un valor de rescate de $20,000. Se espera que la mquina se utilice...

Answered: 1 week ago

Question

★★★★★

XYZ Inc. a calendar year, accrual basis corporation, had the following items during 2021: Gross revenue from operations Cost of goods sold $420,000 ($180,000) $9,000 LT capital gain .LT capital...

Answered: 1 week ago

Question

★★★★★

For each of the following situations, state whether you agree or disagree with the financial reporting practice employed, and briefly explain the reason for your answer. 1. The controller of the...

Answered: 1 week ago

Question

★★★★★

Ace Leasing acquires equipment and leases it to customers under long-term direct financing leases. Ace earns interest under these arrangements at a 6% annual rate. Ace leased a machine it purchased...

Answered: 1 week ago

Question

★★★★★

On November 1, 2011, Quantum Technology, a geothermal energy supplier, borrowed $16 million cash to fund a geological survey. The loan was made by Nevada BancCorp under a noncommitted short-term line...

Answered: 1 week ago

Question

★★★★★

For the data in Exercise 35, find 90 percent and 98 percent confidence intervals for the ratio of the variances of weights from the two machines.

Answered: 1 week ago

Question

★★★★★

Suppose that a sample of size 8 is chosen randomly from a normally distrib uted population with mean 24 and variance 9. The standardized value cor responding to each observed value is computed by...

Answered: 1 week ago

Question

★★★★★

Show that the fact that [N/ (N l)]s2 is an unbiased estimator of a2 and that iVs2/a2 is a chi-square variable implies that the expectation of a chi-square random variable with IV 1 degrees of...

Answered: 1 week ago

Previous Question Next Question