Accounting 2 Help 5

Please answer all five tabs that are at the bottom of the file.

 

Thanks a million!!

2

< /

td>

>P

1 6 – 9

A< /

h2>

16-9A

pts.

–

pense

x

1, 20–

$ 1,745

872

GENERAL JOURNAL

Date Account Debit Credit
20–

Dec.

-Jul

1,300

Calculations:

Accounts receivable, December 31, 20–

Allowance for bad debts, new balance

Net realizable value

GENERAL JOURNAL

Date Account Debit Credit
20–

Dec. Accounts Receivable 1,745

1,745

Calculations:
Credit Sales x Percentage

Adjustment Amount

$ 1,745 5.0%

Accounts receivable, December 31, 20– $ 1,745
Allowance for bad debts, new balance 872

Net realizable value

GENERAL JOURNAL

Date Account Debit Credit
20–

Dec.

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

Problem

Name:

1

0

1a.

GENERAL JOURNAL

Date

Account

Debit

Credit

20–

Dec.

8

May

Bad Debt E

x

1,

7

4

5

Allowance for Bad Debts

1,745

Calculations:

Credit Sales

Percentage

=

Adjustment Amount

$ 1,745

5.0%

$

872

Accounts receivable, December

3

Allowance for bad debts, new balance

Net realizable value

$873

1b.

15

Bad Debt Expense

1,300

Accounts Receivable

Estimate through analysis (provided)

Allowance for bad debts, previous balance

Adjustment amount

$ 1,300

130

$ 1,170

2a.

Uncollectible Accounts Recovered

=

$ 872

$ 873

2b.

Cash

E18-2A

Name:

ly

Estimated Life Percentage

/ years =

x 2

x

= Depreciation

Year 1
Year 3

x

8 9

Original Cost – Salvage Value =

Mark Sears: Enter as a formula

Rate = Depreciation

Year 1 $ 27,000

Mark Sears: Enter as a formula

Year 3

25%
Mark Sears: Enter as a fraction

Mark Sears: Enter as a formula

Mark Sears: Enter as a formula

Exercise 18-2A

10pts.

1.

Straight-Line Method

Original Cost

Salvage Value

Estimated Life

Year

Depreciation

years

Year 1

Year 3

2.

Double-Declining-Balance Method

100%

Mark Sears: Enter as a formula

Double-declining rate

Book Value

Rate

Year 2

3.

Sum-of-the-Years’-Digits Method

[Life

(Life + 1)]

/ 2 =

Denominator

25% Mark Sears: Enter as a formula

Depreciable Cost

$ 27,000

3,00

$ 24,000 Mark Sears: Enter as a formula

Mark Sears: Enter as a formula

Depreciable Cost x

25% Mark Sears: Enter as a fraction

2/25 Mark Sears: Enter as a formula

$ 20,225

5/56

P18-7A

Name:

1.
Straight-Line Method

Original Cost Salvage Value Estimated Life

years

Year

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

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 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

Problem 18-7A 10pts.
Yearly Depreciation
		Annual Depreciation
		Mark Sears: Enter book values for Years 1-8 as formulas
Mark Sears: Enter as a fraction

E16-7A

10pts.
GENERAL JOURNAL

Date Account Debit Credit
May 8 Bad Debt Expense 1,745

1,745

15 Bad Debt Expense 1,300

1,300

Wrote off uncollectible account

2 Accounts Receivable/V. Lawrence 1,745

Uncollectible Accounts Recovered 1,745
2 Cash 1,745

Accounts Receivable/V. Lawrence 1,745

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

20-1
		Accounts Receivable/V. Lawrence
	Wrote off uncollectible account
July
		Accounts Receivable/D. Utter
Sept.
	Reinstated account receivable
	Collection on account
20-2

Sheet1

E16-7A

10 points

3 points

2 points

E18-2A 10 points

*requirement 1 3 points
*requirement 2 3 points

*requirement 3

10 points

*requirement 1 3 points
*requirement 2 3 points
*requirement 3 4 points

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