Notice: Payments for answers will end 4/10/2017. Click for more info.
You have new items in your feed. Click to view.
Question and answer
Q: 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.
A: 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.
26,530,549 questions answered
Popular Conversations
Most volcanoes are located at A. hot spots. B. transform ...
Weegy: Most volcanoes are located a the pacific ring of fire.
12/12/2017 8:34:43 AM| 14 Answers
This year, after a lengthy, noisy debate, they decided to take ...
Weegy: This year, after a lengthy, noisy debate, they decided to take separate vacations. This is a Simple Sentence. ...
12/10/2017 4:51:34 AM| 4 Answers
What is the primary mission of the Department of Homeland ...
Weegy: The primary mission of the Department of Homeland Security is " ensuring that the United States and its citizens ...
12/12/2017 7:12:59 AM| 4 Answers
Which layer of Earth is responsible for creating Earth's magnetic ...
Weegy: Earth's "Outer Core" is responsible for creating Earth's magnetic field.
12/12/2017 8:25:18 AM| 4 Answers
Which one of the following types of sentences gives a command or ...
Weegy: Do your work! The sentence above is an example of an IMPERATIVE sentence. User: Which one of the following ...
12/8/2017 6:12:32 AM| 3 Answers
The American College of Sports Medicine (ACSM) recommends doing ...
Weegy: I thing adults should get at least 150 minutes of moderate-intensity exercise per week. [ Exercise ...
12/6/2017 9:19:04 AM| 2 Answers
Weegy Stuff
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 5 [Total 5] Ratings 0 Comments 5 Invitations 0 Offline
S
Points 3 [Total 3] Ratings 0 Comments 3 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
P
L
P
Points 1 [Total 166] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.