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answer question 9

answer question 9

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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answer question 9
2:59 ( M A Today 2:59 PM let the following information for the next two questions: aunadjusted trial balance of Entity A shows the following: Accounts receivable Allowance for bad debts Equipment Accumulated depreciation 280,000 360,000 144,000 Additional information: • 3% of the total accounts receivable are doubtful of collection. • The equipment was acquired 2 years ago and was estimated to have a 5-year useful life. 8. What is the adjusted (net) carrying amount of accounts receivable to be presented in the year-end statement of financial position? a. 271,600 c. 280,000 b. 288,400 d. 276,100 9. What is the adjusted (net) carrying amount of equipment to be presented in the year-end statement of financial position? a. 360,000 b. 216,000 c. 144,000 d. 72,000 Send Favorite Edit Delete More
Transcribed Image Text:2:59 ( M A Today 2:59 PM let the following information for the next two questions: aunadjusted trial balance of Entity A shows the following: Accounts receivable Allowance for bad debts Equipment Accumulated depreciation 280,000 360,000 144,000 Additional information: • 3% of the total accounts receivable are doubtful of collection. • The equipment was acquired 2 years ago and was estimated to have a 5-year useful life. 8. What is the adjusted (net) carrying amount of accounts receivable to be presented in the year-end statement of financial position? a. 271,600 c. 280,000 b. 288,400 d. 276,100 9. What is the adjusted (net) carrying amount of equipment to be presented in the year-end statement of financial position? a. 360,000 b. 216,000 c. 144,000 d. 72,000 Send Favorite Edit Delete More
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