Sign Up

Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.

Have an account? Sign In

Have an account? Sign In Now

Sign In

Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.

Sign Up Here

Forgot Password?

Don't have account, Sign Up Here

Forgot Password

Lost your password? Please enter your email address. You will receive a link and will create a new password via email.

Have an account? Sign In Now

You must login to ask question.(5)

Forgot Password?

Need An Account, Sign Up Here

Please briefly explain why you feel this question should be reported.

Please briefly explain why you feel this answer should be reported.

Please briefly explain why you feel this user should be reported.

Sign InSign Up

ITtutoria

ITtutoria Logo ITtutoria Logo

ITtutoria Navigation

  • Python
  • Java
  • Reactjs
  • JavaScript
  • R
  • PySpark
  • MYSQL
  • Pandas
  • QA
  • C++
Ask A Question

Mobile menu

Close
Ask a Question
  • Home
  • Python
  • Science
  • Java
  • JavaScript
  • Reactjs
  • Nodejs
  • Tools
  • QA
Home/ Questions/At December 31, Hawke Company reports the following results for its calendar year...
Next
Answered
ptntuto
  • 29
ptntuto
Asked: April 11, 20222022-04-11T19:22:41+00:00 2022-04-11T19:22:41+00:00In: Accounting

At December 31, Hawke Company reports the following results for its calendar year…

  • 29

. Advertisement .

..3..

. Advertisement .

..4..

......... ADVERTISEMENT .........

..8..

At December 31, Hawke Company reports the following results for its calendar year. Problem 7-2A Estimating and repo...

At December 31, 2015, Hawke Company reports the following results for its calendar year:

Cash sales $1,905,000
Create sale $5,682,000

In addition, its unadjusted trial balance includes the following items:

Accounts receivable $1,270,100 debit
Allowance for doubtful accounts. $16,580 debit

Required 

1. Prepare the adjusting entry for this company to recognize bad debts under each of the following index- pendent assumptions.

a. Bad debts are estimated to be 1.5% of credit sales.

b. Bad debts are estimated to be 1% of total sales.

c. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible.

2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31, 2015, balance sheet gave the facts in part 1a.
3. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31, 2015, balance sheet given the facts in part 1c.

Revelant knowledge 

 Bad debt is one that businesses incur when the credit that was previously granted to a client is determined to be not able to be collected and therefore classified as charge off. cost off. A bad debt situation is one that needs to be considered by any business that offers credit to their customers, since there is always the possibility that the payment will not be collected.

accounts receivablebad debt
  • 1 1 Answer
  • 136 Views
  • 0 Followers
  • 0
Answer
Share
  • Facebook
  • Report

1 Answer

  • Voted
  • Oldest
  • Recent
  • Random
  1. Best Answer
    Isla Wilson
    2022-04-11T19:22:44+00:00Added an answer on April 11, 2022 at 7:22 pm

    My answer: 

    1.a

    1.b

    1.c

    2.

    3.

    • 16
    • Reply
    • Share
      Share
      • Share on Facebook
      • Share on Twitter
      • Share on LinkedIn
      • Share on WhatsApp
      • Report

Leave an answer
Cancel reply

You must login to add an answer.

Forgot Password?

Need An Account, Sign Up Here

Sidebar

Ask A Question
  • How to Split String by space in C++
  • How To Convert A Pandas DataFrame Column To A List
  • How to Replace Multiple Characters in A String in Python?
  • How To Remove Special Characters From String Python

Explore

  • Home
  • Tutorial

Footer

ITtutoria

ITtutoria

This website is user friendly and will facilitate transferring knowledge. It would be useful for a self-initiated learning process.

@ ITTutoria Co Ltd.

Tutorial

  • Home
  • Python
  • Science
  • Java
  • JavaScript
  • Reactjs
  • Nodejs
  • Tools
  • QA

Legal Stuff

  • About Us
  • Terms of Use
  • Privacy Policy
  • Contact Us

DMCA.com Protection Status

Help

  • Knowledge Base
  • Support

Follow

© 2022 Ittutoria. All Rights Reserved.

Insert/edit link

Enter the destination URL

Or link to existing content

    No search term specified. Showing recent items. Search or use up and down arrow keys to select an item.