at year end a trial balance showned total credits exceeding total debit by 6050 this difference could have been caused by? A, an error in the general journal where a 6050 increase in accounts receivable was recored as an increase in cash B. a net income of 6050 C. the balance of 60500 in accounts payable being entered in the trial balance as 6060 D. the balance of 6830 in the office equipment accounts being entered on the trial balance as a debit of 770 E. an error in the general journal where a 6050 increase in accounts paybale was recored as a decrease in accounts payable

at year end a trial balance showned total credits exceeding total debit by 6050 this difference could have been caused by? A, an error in the general journal where a 6050 increase in accounts receivable was recored as an increase in cash B. a net income of 6050 C. the balance of 60500 in accounts payable being entered in the trial balance as 6060 D. the balance of 6830 in the office equipment accounts being entered on the trial balance as a debit of 770 E. an error in the general journal where a 6050 increase in accounts paybale was recored as a decrease in accounts payable

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter16: Accounting For Accounts Receivable

Section: Chapter Questions

Problem 4MC

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Using data in Exercise 9-9, assume that the allowance for doubtful accounts for Waddell Industries has a credit balance of 6,350 before adjustment on August 31. Journalize the adjusting entry for uncollectible accounts as of August 31. Waddell Industries has a past history of uncollectible accounts, as follows. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule you completed in Exercise 9-8. The accounts receivable clerk for Waddell Industries prepared the following partially completed aging of receivables schedule as of the end of business on August 31: The following accounts were unintentionally omitted from the aging schedule and not included in the preceding subtotals: a. Determine the number of days past due for each of the preceding accounts as of August 31. b. Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals.
At year-end, a trial balance showed total credits exceeding total debits by $6,050. This difference could have been caused by: Multiple Choice An error in the general journal where a $6,050 increase in Accounts Receivable was recorded an increase in Cash. A net income of $6,050. The belance of $60,500 in Accounts Payable being entered in the trial balance as $6,050. The balance of $6,820 in the Office Equipment account being entered on the trial balance as a debi: of $770. An error in the general journal where a $6,050 increase in Accounts Payable was recorded as a decrease in Accounts Payable.
At year-end, a trial balance showed total credits exceeding total debits by $6,200. This difference could have been caused by: O Multiple Choice An error in the general journal where a $6,200 increase in Accounts Receivable was recorded as an increase in Cash. A net income of $6,200. The balance of $62,000 in Accounts Payable being mistakenly entered in the trial balance as $6,200. The balance of $7,000 in the Office Equipment account being mistakenly entered on the trial balance as a debit of $800. An error in the general journal where a $6,200 increase in Accounts Payable was mistakenly recorded as a decrease in Accounts Payable.
At year-end, a trial balance showed total credits exceeding total debits by $5,750. This difference could have been caused by: Multiple Choice An error in the general journal where a $5,750 increase in Accounts Receivable was recorded as an increase in Cash. A net income of $5.750. The balance of $57,500 in Accounts Payable being entered in the trial balance as $5,750. The balance of $6.460 in the Office Equipment account being entered on the trial balance as a debit of $710. An error in the general journal where a $5,750 increase in Accounts Payable was recorded as a decrease in Accounts Payable. W 99% e here to search
A trial balance prepared at year-end shows total credits exceed total debits by $765. This discrepancy could have been caused by a. An error in the general journal where a $765 increase in Accounts Payable was recorded as a $765 decrease in Accounts Payable. b. The ledger balance for Accounts Payable of $7,650 being entered in the trial balance as $765. c. A general journal error where a $765 increase in Accounts Receivable was recorded as a $765 increase in Cash. d. The ledger balance of $850 in Accounts Receivable was entered in the trial balance as $85. e. An error in recording a $765 increase in Cash as a credit.
At year-end a trial balance prepared shows total credits exceed total debits by $855. This discrepancy could have been caused by a. An error in the general journal where an increase of $855 in accounts payable was recorded as a decrease of $855 in accounts payable. b. The ledger balance of accounts receivable was wrongly entered in the trial balance as 95 instead of $950. c. The ledger balance for accounts payable of $8,550 entered in the trial balance as $855. d. $855 increase in accounts receivable was recorded as a $855 increase in cash in general journal.
After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $622,324 and Allowance for Doubtful Accounts has a balance of $20,510. What is the net realizable value of the accounts receivable? a.$601,814 b.$642,834 c.$20,510 d.$622,324
After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $674,914 and Allowance for Doubtful Accounts has a balance of $25,921. What is the net realizable value of accounts receivable? a. $25,921 b. $648,993 c. $674,914 d. $700,835