Accounting 2 Help 5

profilejoeice
week1.hw-11.xlsx
Home>Business & Finance homework help>Accounting homework help>Accounting 2 Help 5

P16-9A

Problem 16-9A Name:
10pts.
1a.
GENERAL JOURNAL
Date Account Debit Credit
20--
Dec. 8-May Bad Debt Expense 1,745
Allowance for Bad Debts 1,745
Calculations:
Credit Sales x Percentage = Adjustment Amount
$ 1,745 5.0% $872
Accounts receivable, December 31, 20-- $ 1,745
Allowance for bad debts, new balance 872
Net realizable value $873
1b.
GENERAL JOURNAL
Date Account Debit Credit
20--
Dec. 15-Jul Bad Debt Expense 1,300
Accounts Receivable 1,300
Calculations:
Estimate through analysis (provided)
Allowance for bad debts, previous balance
Adjustment amount
Accounts receivable, December 31, 20-- $ 1,300
Allowance for bad debts, new balance 130
Net realizable value $ 1,170
2a.
GENERAL JOURNAL
Date Account Debit Credit
20--
Dec. Accounts Receivable 1,745
Uncollectible Accounts Recovered 1,745
Calculations:
Credit Sales x Percentage = Adjustment Amount
$ 1,745 5.0% $ 872
Accounts receivable, December 31, 20-- $ 1,745
Allowance for bad debts, new balance 872
Net realizable value $ 873
2b.
GENERAL JOURNAL
Date Account Debit Credit
20--
Dec. Cash 1,745
Accounts Receivable 1,745
Calculations:
Estimate through analysis (provided)
Allowance for bad debts, previous balance
Adjustment amount
Accounts receivable, December 31, 20--
Allowance for bad debts, new balance
Net realizable value

E18-2A

Exercise 18-2A Name:
10pts.
1.
Straight-Line Method
Original Cost Salvage Value Estimated Life Yearly Depreciation
years
Year 1
Year 3
2.
Double-Declining-Balance Method
Estimated Life Percentage
100% / years =
Mark Sears: Enter as a formula
x 2
Double-declining rate
Book Value x Rate = Depreciation
Year 1
Year 2
Year 3
3.
Sum-of-the-Years'-Digits Method
[Life x (Life + 1)] / 2 = Denominator
8 9 25%
Mark Sears: Enter as a formula
Original Cost - Salvage Value = Depreciable Cost
$ 27,000 3,00 $ 24,000
Mark Sears: Enter as a formula
Mark Sears: Enter as a formula
Mark Sears: Enter as a formula
Depreciable Cost x Rate = Depreciation
Year 1 $ 27,000 25%
Mark Sears: Enter as a fraction
Mark Sears: Enter as a formula 		2/25
Mark Sears: Enter as a formula
Year 3 $ 20,225 25%
Mark Sears: Enter as a fraction
Mark Sears: Enter as a formula
Mark Sears: Enter as a formula 		5/56

P18-7A

Problem 18-7A 10pts. Name:
1.
Straight-Line Method
Original Cost Salvage Value Estimated Life Yearly Depreciation
years
Year Annual Depreciation Book Value
0
1
2
3
4
5
6
7
8
2.
Double-Declining-Balance Method
Estimated Life Percentage
100% / years =
x 2
Double-declining rate
Year Annual Depreciation Book Value
Book Value x Rate = Depreciation
0
1

Mark Sears: Enter book values for Years 1-8 as formulas 		2
3
4
5
6
7
8
3.
Sum-of-the-Years'-Digits Method
[Life x (Life + 1)] / 2 = Denominator
Original Cost - Salvage Value = Depreciable Cost
Year Annual Depreciation Book Value
Depreciable Cost
x Rate = Depreciation
0
1
Mark Sears: Enter as a fraction
Mark Sears: Enter as a formula
Mark Sears: Enter as a formula
Mark Sears: Enter as a formula
Mark Sears: Enter as a formula

Mark Sears: Enter book values for Years 1-8 as formulas
Mark Sears: Enter book values for Years 1-8 as formulas
Mark Sears: Enter as a formula
Mark Sears: Enter as a formula
Mark Sears: Enter as a formula 		2
3
4
5
6
7
8

E16-7A

10pts.
GENERAL JOURNAL
Date Account Debit Credit
20-1
May 8 Bad Debt Expense 1,745
Accounts Receivable/V. Lawrence 1,745
Wrote off uncollectible account
July 15 Bad Debt Expense 1,300
Accounts Receivable/D. Utter 1,300
Wrote off uncollectible account
Sept. 2 Accounts Receivable/V. Lawrence 1,745
Uncollectible Accounts Recovered 1,745
Reinstated account receivable
2 Cash 1,745
Accounts Receivable/V. Lawrence 1,745
Collection on account
20-2
May 15 Accounts Receivable/D. Utter 1,300
Uncollectible Accounts Recovered 1,300
Reinstated account receivable
15 Cash 1,300
Accounts Receivable/D. Utter 1,300
Collection on account

Sheet1

Week 1 Grading Rubric
Point Available Points Earned
E16-7A 10 points
P16-9A 10 points
*requirement 1 3 points
*requirement 2 3 points
*requirement 3 2 points
*requirement 4 2 points
E18-2A 10 points
*requirement 1 3 points
*requirement 2 3 points
*requirement 3 4 points
E18-7A 10 points
*requirement 1 3 points
*requirement 2 3 points
*requirement 3 4 points
Total Score