Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

please help, #1and 2 dont use pic one, please do 14 and 15 (pic 2) multiple choice. QUESTION 1 During the year, Kiner Company made

please help, #1and 2
image text in transcribed
dont use pic one, please do 14 and 15 (pic 2) multiple choice.
image text in transcribed
QUESTION 1 During the year, Kiner Company made an eye of a $32.000 uncoctible account. Before this erny was made the balance in account was $400.000 and the balancen a $36.000 Prepare any to write of the uncollectible cout TTIA 3) TE Pem QUESTION 2 Nos Cones the periode wystem for to the the following data related to an inventory Inventory March 1 490 52.10 Purchase, Marth 1.400 units 52 20 Purchase, March 16 280 52.25 Inventory March 31 520 Determine the weighted average unit on the other ending inventory QUESTION 14 Al the close of its first year of operations, December 31, 2020, Ming Company had accounts receivable of $1,620,000, after deducting the related allowance for doublul accounts. During 2020, the company had charges to bad debt expense of $270,000 and wrote off, as uncollectible, accounts receivable of $120,000. What should the company report on its balance sheet at December 31, 2020, as accounts receivable before the allowance for doubtful accounts O a $1.740.000 Ob $1.770,000 Oe $1.470.000 Od.$1.300.000 Os none of the above answers are correct. 1 points Extra QUESTION 15 Smithson Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of S40,000. During 2020, it wrote off $21,600 of accounts and collected 6.0 on accounts previously written of The balance in Accounts Receivable was $600.000 a 1/1 and $720,000 12/31. Al 12/31/20, Smithson estimates that 4% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 20207 a $18.400 b. $21.300 Oc$10,400 Od: $28.800 Oe. None of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

blur-text-image_2

Step: 3

blur-text-image_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

Financial Accounting Introduction To Concepts Methods And Uses

Authors: Clyde P. Stickney, Roman L. Weil

11th Edition

0324222971, 978-0324222975

More Books

Students explore these related Accounting questions