Problem 8-2B, Problem 8-6B, Problem 9-2B, Problem 9-7B

Problem 8-2B

(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).

Date		Account Titles and Explanation		Debit		Credit
1
2
3
4
5

(b) Enter the January 1, 2014 balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the transactions to the ledger T Accounts

Be sure to post the amounts to the correct side of the T-Account!

Accounts Receivable
Bal.	(2)
(1)	(3)
(5)	(4)
	(5)
Bal.

Allowance for Doubtful Accounts
(4)	Bal.
	(5)
	Bal.

(c) Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000.

Balance needed $

Balance before adjustment [see (b)]

Adjustment required $

The journal entry would therefore be as follows:

(d) Accounts Receivable Turnover Ratios:

Enter your answer here

Average Collection Period:

Enter your answer here

Problem 8-6B

(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).

Date		Account Titles and Explanation		Debit		Credit
5
20
Feb 18
Apr 20
30
May 25
Aug 18
Sept. 1

Problem 9-2B

(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).

If there are two entries for the same day, then you do not need to enter the date again.

Date		Account Titles and Explanation		Debit		Credit
April 1
May 1
May 1
June 1
Sept 1
		PART B
Dec 31
31

(c) Partial Balance Sheet

TONG CORPORATION
Partial Balance Sheet
December 31, 2014
Assets
Plant assets
Account title	Amount
Account title	Amount
Account title	Amount
Account title (or contra account)	Amount
Total plant assets	Amount

Problem 9-7B

(a)

BUS 1
Year	Computation	Accumulated Depreciation
	Amount
	Amount
	Amount

BUS 2
Year	Computation	Accumulated Depreciation
	Amount
	Amount
	Amount

BUS 3
Year	Computation	Accumulated Depreciation
	Amount
	Amount
	Amount

(b)

BUS 2
Year	Depreciation Expense
	Amount
	Amount