AC210 Fall 2014 Quiz almost eight Version A with h

 AC210 Fall 2014 To discover 8 Type A with h Dissertation

п»їAC210 Fall 2014 Quiz almost eight Version AScore ____ / 80

____ as well as 20

Name ______________________________________CWID _______________Total____/ 100

Multiple Choice: Discover the page of the choice that best completes the statement or answers problem. Mark your answer inside the blanks supplied at the top. ten features each 1 . _____ installment payments on your _____ three or more. _____ 4. _____ your five. _____ six. _____ 7. _____ almost 8. _____

1 . The entry required to recognize the bad debts charge for 2014 will act to: A. Increase total assets and retained earnings

B. Decrease total resources and stored earnings

C. Decrease total assets and increase net income

D. Increase total possessions and decrease net gain

2 . The next data concerns Wang Company for 2015:

Credit product sales during the year

$1, 600, 1000

Accounts Receivable—December 31, 2015

235, 500

Allowance intended for Doubtful Accounts—December 31, 2015

18, 000

Bad personal debt expense for the year

14, 000

What amount can Wang show on the year-end "balance sheet" for the web realizable worth of their accounts receivable? A. $253, 000

W. $235, 000

C. $224, 1000

D. $217, 500

3. The data below is made for Music Company for 2015.

Accounts receivable - January 1, 2015

$236, 1000

Credit sales during 2015

820, 1000

Collections via credit clients during 2015

590, 000

Customer accounts written away as uncollectible during 2015

8, 1000

Allowance for doubtful accounts - January 1, 2015

8, seven-hundred

Estimated uncollectible accounts based upon an the aging process analysis

on the lookout for, 600

In the event the aging strategy is used to estimate money owed, what volume should be registered as bad debt charge for 2015? A. $8, 000

B. $8, 95

C. $8, 700

G. $8, nine hundred

4. The data below is perfect for Benton Organization for 2015.

Accounts Receivable—January 1, 2015$334, 000

Credit sales during 2015850, 000

Collections coming from credit buyers during 2015725, 000

Consumer accounts crafted off while uncollectible during 2015 doze, 000...


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