Rosalie Corporation is located in Los Angeles but does business throughout Europe.The company builds and sells equipment used in manufacturing pharmaceuticals.On December 31, 2011, Rosalie's accounts receivable are as follows: Rosalie Corporation determines that Finley Company's receivable is impaired by $40,000 and Hunter, Inc.'s receivable is totally impaired.The other receivables from Rafael and Rios are not considered impaired.Rosalie determines that a composite rate of 2% is appropriate to measure impairment on all other receivables.What is the total impairment of receivables for Rosalie Corporation for 2011?

Question

Rosalie Corporation is located in Los Angeles but does business throughout Europe.The company builds and sells equipment used in manufacturing pharmaceuticals.On December 31, 2011, Rosalie's accounts receivable are as follows:  Rosalie Corporation determines that Finley Company's receivable is impaired by $40,000 and Hunter, Inc.'s receivable is totally impaired.The other receivables from Rafael and Rios are not considered impaired.Rosalie determines that a composite rate of 2% is appropriate to measure impairment on all other receivables.What is the total impairment of receivables for Rosalie Corporation for 2011?

Quizplus · Accepted Answer

The Answer of Rosalie Corporation is located in Los Angeles but does business throughout Europe.The company builds and sells equipment used in manufacturing pharmaceuticals.On December 31, 2011, Rosalie's accounts receivable are as follows:  Rosalie Corporation determines that Finley Company's receivable is impaired by $40,000 and Hunter, Inc.'s receivable is totally impaired.The other receivables from Rafael and Rios are not considered impaired.Rosalie determines that a composite rate of 2% is appropriate to measure impairment on all other receivables.What is the total impairment of receivables for Rosalie Corporation for 2011?

Rosalie Corporation Is Located in Los Angeles but Does Business