Question and answer
The method of accounting for losses from uncollectible accounts that produces a proper valuation of the accounts receivable on the balance sheet is (Points : 5) the allowance method based
on aging the accounts receivable. the allowance method based on a percentage of net credit sales. the direct charge-off method. either the allowance method or the direct charge-off method.
Percentage of total accounts receivable method. [ [ One way companies derive an estimate for the value of bad debts under the allowance method is to calculate bad debts as a percentage of the accounts receivable balance. ] ]
Get an answer
Original conversation
User: The method of accounting for losses from uncollectible accounts that produces a proper valuation of the accounts receivable on the balance sheet is (Points : 5) the allowance method based on aging the accounts receivable. the allowance method based on a percentage of net credit sales. the direct charge-off method. either the allowance method or the direct charge-off method.

Weegy: Percentage of total accounts receivable method. [ [ One way companies derive an estimate for the value of bad debts under the allowance method is to calculate bad debts as a percentage of the accounts receivable balance. ] ]
cham718|Points 110|

User: The method of accounting for losses from uncollectible accounts that produces a proper valuation of the accounts receivable on the balance sheet is (Points : 5) the allowance method based on aging the accounts receivable. the allowance method based on a percentage of net credit sales. the direct charge-off method. either the allowance method or the direct charge-off method.

Weegy: Percentage of total accounts receivable method. [ [ One way companies derive an estimate for the value of bad debts under the allowance method is to calculate bad debts as a percentage of the accounts receivable balance. ] ]
cham718|Points 110|

User: Which of the following statements is not correct? (Points : 5) The use of the direct charge-off method of recording losses from uncollectible accounts usually results in the balance in the Accounts Receivable account being overstated. The direct charge-off method of recording losses from uncollectible accounts is the method required by Federal income tax laws. The direct charge-off method of recording losses from uncollectible accounts is an application of the matching principle. All of these statements are correct.

Weegy: The answer is "The direct charge-off method of recording losses from uncollectible accounts is an application of the matching principle. "
Expert answered|bongche|Points 2735|

Question
Asked 7/27/2012 8:04:26 PM
0 Answers/Comments
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
The method that must be used to record bad debt losses for tax purposes is the User: The balance of the Allowance for Doubtful Accounts account is reported as (Points : 5) a liability on the balance sheet. a deduction from Sales on the income statement. a deduction from Accounts Receivable on the balance sheet. an expense on the income statement. User: a deduction from Accounts Receivable on the balance sheet is reported for what User: An existing balance in ...
Weegy: An existing balance in Allowance for Doubtful Accounts is not considered when the estimate of loss is based on a percent of total sales. User: On December 31, prior to adjustment, Allowance for Doubtful Accounts has a credit balance of $200. An aging analysis of the accounts receivable produces an estimate of $1,000 of probable losses from uncollectible accounts. The adjusting entry needed to record the estimated losses from ... (More)
Question
Expert Answered
Asked 7/27/2012 7:45:31 PM
0 Answers/Comments
17,103,190 questions answered
Popular Conversations
Define scientific law
Weegy: A scientific law is a statement based on repeated experimental observations that describes some aspect of the ...
8/21/2014 9:05:32 AM| 2 Answers
Which of the following projections would be best for a map of the ...
Weegy: Please indicate the choices.
8/21/2014 12:39:54 PM| 2 Answers
how do i get points
8/21/2014 1:19:30 PM| 2 Answers
What is the sum of 2/5 and 2/4?
8/21/2014 3:26:40 PM| 2 Answers
15÷6 2/3=?
Weegy: Set it up as a proportion: 6/15=2/x Cross multiply: 2*15=6*x 30=6x Solve for x: x=5 So, 6/15=2/5 ...
8/21/2014 3:22:52 PM| 2 Answers
A republic is a form of government in which the people
Weegy: According to Wikipedia, a republic is a form of government. User: A direct democracy is also known as a
8/21/2014 4:39:27 PM| 2 Answers
Who is regarded as the founder of the study of human anatomy? A. ...
Weegy: User: Who translated the Bible into German to allow the people to understand the teachings in their native ...
8/21/2014 8:48:55 PM| 2 Answers
Potugese ships known as what were perfect for ocean travel? A. ...
Weegy: The answer is C. Frigates User: During the Commerical Revolution, which new economic theory stressed the ...
8/21/2014 9:01:10 PM| 2 Answers
Weegy Stuff
S
R
L
1
1
P
C
1
P
1
1
L
P
C
P
C
1
P
C
L
P
C
1
P
C
P
C
Points 1828 [Total 23428]| Ratings 2| Comments 1808| Invitations 0|Offline
S
L
1
L
Points 1408 [Total 5384]| Ratings 5| Comments 1358| Invitations 0|Offline
S
L
C
P
C
1
L
L
Points 1345 [Total 14959]| Ratings 7| Comments 1275| Invitations 0|Offline
S
L
1
1
1
1
L
1
Points 1299 [Total 9006]| Ratings 2| Comments 1279| Invitations 0|Offline
S
L
P
C
L
P
C
P
C
L
P
C
P
C
P
C
Points 1120 [Total 16147]| Ratings 2| Comments 1100| Invitations 0|Offline
S
L
P
C
P
C
1
L
P
C
L
P
C
P
C
P
C
P
C
Points 840 [Total 18411]| Ratings 0| Comments 840| Invitations 0|Offline
S
1
L
L
Points 450 [Total 5014]| Ratings 0| Comments 450| Invitations 0|Offline
S
1
L
1
L
P
P
L
Points 407 [Total 11068]| Ratings 1| Comments 397| Invitations 0|Offline
S
Points 272 [Total 272]| Ratings 1| Comments 252| Invitations 1|Offline
S
Points 217 [Total 228]| Ratings 3| Comments 157| Invitations 3|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.