29) Which account shows the amount of accounts receivable that the business does

Question

29) Which account shows the amount of accounts receivable that the business does Nar expect to collect. A) Uncollectible Accounts Expense B) Sales Returns and Allowances C) Allowance for Uncollectible Accounts D) Unearned Accounts Receivable 30) Given the following data, calculate the cost of ending inventory using the LIFO costing method. A) $740 B) $720 C) $915 D) $545 31) Using an accelerated depreciation method will cause a company to incur A) more taxes in early years of the asset's use as compared to later years. B) less taxes in early years of the asset's use as compared to later years. C) the same amount of taxes in early years of the asset's use as in the later years. D) none of these answers are correct. 32) Deland Company purchased equipment on March 1, 2009, for 130,000. The residual value is $40,000 and the estimated life is 10 years or 60,000 hours. Compute depreciation expense for the year ending December 31, 2013 the company uses the double-declining-balance method of depreciation. A) $20,800 B) $26,333 C) $21,666 D) $24,666

Explanation / Answer

Solution:

Question 29

The answer to the above question is -

A) Uncollectible Accounts Expense

As this account is created on debts becoming uncollectible.

Question 30

Other questions are not clear. Please post clearly.

Ending Inventory 65 Inventory - 25 * 15 375 Inventory - 20 * 14 280 Inventory - 20 * 13 260 Cost of Ending Inventory 915 Therefore, answer to the above question is C) $ 915

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