Bayt.com

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Under the allowance method of recognizing uncollectible accounts, the entry to write-off an uncollectible account

A. Increases the allowance for uncollectible accounts.  

B. Has no effect on the allowance for uncolletible accounts 

C. Decreases net income. accounts. 

D. Has no effect on net income.

Accounting Tax Accounting CMA Banking managerial accounting
user-image
Question added by Deleted user
Date Posted: 2015/02/13
Upvote (1) Views (9) Followers (4) Answers (4) Report Question
Write an Answer
Register now or log in to answer.
VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Option (D)  ......      Has no effect on net income.

Provided the allowance account is sufficient.

Lesley Lanag CMA CPA
by Lesley Lanag CMA CPA , Senior Accountant , Takaful Emarat Insurance (P.S.C)

D.  No effect to net income

 

Entry would be:

Dr.  Allowance for doubtful accounts

Cr.  Accounts receivable 

Anzar Ahmad
by Anzar Ahmad , Call Out Officer , Abana Enterprises Group Company

option D- Has no efect on Net Income.

MOHAMMED KHATER
by MOHAMMED KHATER , Financial Accountant , الرياض

 

d -Has no effect on net income

Write Your Answer
More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.

Get Help