Cambridge College
Spring 2016
1) Please make entries , t accounts, trial balance , balance sheet and income statement for the following:
Bought a car for 1000
Sold services for 50000
Paid rent for 1000
Took a loan for cash 1000
Sold items on account receivable for 500
Got paid 100 on the accts receivable
2) You have the following accounts receivable balances
30 days due 1000 rate of uncollectible is 10%
31-60 days due 2000 rate of uncollectible is 20%
61-90 days due 4000 rate of uncollectible is 30%
Make the bad debt and uncollectible contra acct entry
3) You have a 100000 building that has a useful life of 10 years and a salvage value of 1000 what is the yearly depreciation entry?
batuhan
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