Sign In
Not register? Register Now!
You are here: HomeCourseworkAccounting, Finance, SPSS
Pages:
1 page/≈275 words
Sources:
2 Sources
Level:
APA
Subject:
Accounting, Finance, SPSS
Type:
Coursework
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 5.62
Topic:

Uncollectible Accounts Receivables for XYZ (Coursework Sample)

Instructions:

Assignment Topic:
Below is the “totals” section of XYZ Corporation’s full ageing schedule. XYZ will be using this information to estimate uncollectible accounts receivable at year-end

source..
Content:

Uncollectible Accounts Receivables for XYZ
Student’s Name
Institutional Affiliation
Course Name + Code
Instructor's Name
Date
Uncollectible Accounts Receivables for XYZ
1 Percentage of bad debts = (bad debts /total debts)*100
The company’s total debt is $375,000.
Similarly, the company has debts with a different number of days outstanding. The debt collection rate for $220,000 is 1%, while the debts should be collected within 30 days.
1/100*220,000
$2,200
The percentage rate for the debts to be collected between 31-60 days is 4% while the amount of debt = $90,000
4/100*90,000
$3,600
61-90 days
Accounts receivables = $30,000
Percent uncollectible = 5%
Estimated bad debts 5/100*40,000
$1,500
91-120 days
Accounts receivables = 20,000
Percent uncollectible = 9%
9/100*20,000
$1,800
Over 120 days
Accounts receivables = $15,000
Percent uncollectible = 20%
20/100*15000
$3000
Total estimated bad debts = (2,200 + 3,600+ 1500+ 1800+ 3000)
Total estimated bad debts is $12,100
2. Journal entry
Dr. Bad debt expense $9,100
Cr. Bad and doubtful debts $9,100
(Being a record of bad and doubtful debts assuming that the current bad debt allowance is $3000)

...
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

Other Topics:

  • Statistical Reasoning in Psychology
    Description: This section contains the summary of the result of the analysis of the two independent departments. Below is the statement of the null hypothesis and the alternate hypothesis. The aim of this analysis is to carefully inspect the effect of reduced work hours (RWH) on the performance of the employees in the...
    5 pages/≈1375 words| 2 Sources | APA | Accounting, Finance, SPSS | Coursework |
  • Diversification Risk and Capital Investment
    Description: An investment portfolio is a collection of financial investments such as bonds, stocks, mutual funds, exchange traded funds and real estate. An investor who constructs a portfolio chooses which asset classes to include in the portfolio based on the investor’s objectives. The modern portfolio theory (MPT)...
    5 pages/≈1375 words| 12 Sources | APA | Accounting, Finance, SPSS | Coursework |
  • Quantitative Financial Analysis in Earnings Management
    Description: This study is based on earning management which is one of the topics in accounting finance. The study dataset was achieved. Possible dependent variables, financial characteristics variables, cooperate governance variables and other variables. In each section of the variables there are other sub categories...
    4 pages/≈1100 words| 6 Sources | APA | Accounting, Finance, SPSS | Coursework |
Need a Custom Essay Written?
First time 15% Discount!