# Accounting 2 Help 5

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

Thanks a million!!

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1 6 – 9

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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

\$ 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

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

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