PLEASE CHECK ATTACHMENT - 74412

Solution Posted by
deepeyes
Solution Detail
Price: $10.00
  • From: ,
  • Posted on: Fri 12 Sep, 2014
  • Request id: # 74367
  • Purchased: 1 time(s)
  • Average Rating: No rating
Request Description
Solution Description

                                                                        Final

1.  After the accounts are adjusted at the end of the year, Accounts Receivable has a balance of $215,000, Uncollectible Accounts Expense has a balance of $17,500, and Allowance for Doubtful Accounts has a balance of $12,500. What is the net realizable value of the accounts receivable?

ANS:

Accounts Receivable - Allowance accounts = net realizable value 
215,000 -  12,500    =    $202,500 

2.  Explain the meaning of the terms "tangible" and "intangible" and discuss how these terms are used in describing assets.

ANS:

The asset which is touch able is called tangible assets for example office equipment and table and chairs and intangible assets are those which are not touchable like land and environments.

 

Attachments
Week 8 - Final.docx
Week 8 - Final....