accounting help

IN 2008, Variman, Incorportated had Gross Accounts receivable of $2,366,420 and management estimated the Allowance for Doubtful accounts to be $243,520. Compute the ratio of Allowance of Doubtful accounts to Net Accounts receivable for Variman, Inc. for 2008 (that is, compute Allowance/ Net Accounts receivable.)

  1. 👍 0
  2. 👎 0
  3. 👁 100
asked by tiff

Respond to this Question

First Name

Your Response

Similar Questions

  1. ACCOUNTING !!

    IN 2008, Variman, Incorportated had Gross Accounts receivable of $2,366,420 and management estimated the Allowance for Doubtful accounts to be $243,520. Compute the ratio of Allowance of Doubtful accounts to Net Accounts

    asked by MARLON on August 27, 2009
  2. accounting

    I was given gross accounts receivable $15,200,000 and $17,600,000 respectively; allowance for uncollectible accounts at the begining and end of the year $1,400,000 and $1,550,000; expense for estimated uncollectible accouts

    asked by Jamie on October 14, 2009
  3. accounting II

    A company has $314,000 in credit sales. The company uses the allowance method to account for uncollectible accounts. The allowance for doubtful accounts now has a $1,890 debit balance. If the company estimates that $8,160 of

    asked by CAW on August 29, 2014
  4. acct ii

    A company has $314,000 in credit sales. The company uses the allowance method to account for uncollectible accounts. The allowance for doubtful accounts now has a $1,890 debit balance. If the company estimates that $8,160 of

    asked by t on August 21, 2015
  5. accounting

    Exercise 9-13: Accounts receivable turnover L.O. A1 The following information is from the annual financial statements of Lucilla Company. 2009 2008 2007 Net Sales $ 262,000 $ 193,000 $ 245,000 Accounts Receivable, net (year-end)

    asked by bobbie on April 14, 2010
  6. accounting

    After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $673,400, and Allowance for Doubtful Accounts has a balance of $11,900. Describe how the accounts receivable and the

    asked by diane on April 27, 2014
  7. Business Maths

    How do i calculate this problem. In 2007 the Pearl Boutique had net credit sales of $750,000. On January 1, 2007, Allowance for Doubtful Accounts had a credit balance of $16,000. During 2007, $30,000 of uncollectible accounts

    asked by Peaches on December 3, 2009
  8. Accounting

    On Dec 31, 2007, before adjusting entries, the blances of selected accounts for the company were as follows: Accounts receivable 840,000 Allowance for uncollectable accounts (debit balance) 2,000 dr. The company has determined

    asked by stuckinmath on July 24, 2008
  9. Accounting

    1. Compute the estimated uncollectible accounts at the end of the year using the following rates: Current 1% 1–30 days past due 3% 31–60 days past due 9% Over 60 days past due 25% 2. As of December 31, 2013, there is a credit

    asked by Christian on September 12, 2014
  10. Intermediate accounting

    Rosson Corporation, which began business on January 1, 2008, appropriately uses the installment sales method of accounting for income tax reporting purposes. The following data are available for 2008: Installment accounts

    asked by cyndi on December 11, 2010

More Similar Questions