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Hello, I'm attaching 3 questions. Can you possibl...

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Question

Hello, I'm attaching 3 questions. Can you possibly also send me the answers to my personal email address as well? Having troubles accessing your site on my home computer. I have another set of questions I will be sending. If so, email address is cindy-lane@sbcglobal.net Thanks. Question #1 Timmons Company had a January 1, balance in its Allowance for Doubtful Accounts of $7,000 for the current year. The following transactions and events affected the Allowance for Doubtful Accounts during the current year: a. What amount should appear in the allowance for doubtful accounts in the December 31, balance sheet for the current year? b. How are the direct write-off method and the allowance method applied in accounting for uncollectible accounts receivables? Please explain in words. Question #2 A company purchased a machine for $75,000 that was expected to last 6 years and to have a salvage value of $6,000. At the beginning of the machine's fourth year the company decided that the machine's estimated useful life should be revised to a total of 10 years instead of 6 years. Also, the salvage value was re-estimated to be $5,500. Straight-line depreciation was used throughout the machine's life. Calculate the depreciation expense for the fourth year of the machine's useful life. Question #3 A company sells computers at a selling price of $1,800 each. Each computer has a 2 year warranty that covers replacement of defective parts. It is estimated that 2% of all computers sold will be returned under the warranty at an average cost of $150 each. During November, the company sold 30,000 computers, and 400 computers were serviced under the warranty at a total cost of $55,000. The balance in the Estimated Warranty Liability account at November 1 was $29,000. What is the company's warranty expense for the month of November?,Sorry for the delay. Below is the missing information April 15 Bard's account receivable of 5,700 was deemed uncollectible. July 1 Drake paid the full amount of a previously written-off account receivable. (this receivable of 2,300 had been written-off in the prior year) Dec. 31 Bad debts expense of 7,500 was recorded Let me know if you are missing anything else. I truly appreciate your help.

 

Paper#11372 | Written in 18-Jul-2015

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