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- plz solve !!???LTI Post Attend cengage lo * CengageNO M Reset your E Homework com/ilm/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator=&inpr.. Chart of Accounts General Journal Instructions Delmarva Company, during its first year of operations in 2020, reported taxable income of $170,000 and pretax financial income of $100,000. The differenc between taxable income and pretax financial income was caused by two timing differences: excess depreciation on tax return, $70,000; and warranty expenses in excess of warranty payments, $40,000. These two timing differences will reverse in the next three years as follows: Year Depreciation Warranty Expenses 2021 $10,000 $20,000 2022 20,000 16,000 2023 40,000 4,000 Enacted tax rates are 30% for 2020, 35% for 2021 and 2022, and 40% for 2023. Required:Pachel corpolatian re Ports the per teining vecevicable Days Past Due 3-60 followinginfamethon to iti accounts cuNent 1-30 ever90 $2500 1200. $2000 Jhe companys cradit depaltment Plovided the following statement estima ter vegarding the pocent of occounts enfc ted to eventuallyy be writtenoff form. each category current veceveiNable receivables -30 days past due listed aboue aut standing rELENables 31-ho days past due 16 feceivables 6L-G0 days Pajt due receivable Cuer 20 days due. 90 Recold the company's uncollectible account afsuming it hal expense fredit balance for in its llawance Deuhtful accounts pror to the necessaty maling endjustment.
- Please help me. Thankyou.Marked out of 20.00P Flag questionusing the income summary account for the month ofSiren MarketingAdjusted Trial BalanceMay 31, 2022Account TitleCashDebitCredit$8, 600Accounts Receivable$2, 500Prepaid Insurance$2,700 Accounts PayableUnearned RevenueKirk, Capital$1, 200$1, 800$5, 880Kirk, Withdrawals$1,600Service Revenue$8, 620Advertising Expenselnsurance ExpenseRent Expense Total$790$450$860$17,500 $17,500No comma or dollar sign should be included in the imput icklPrepare the closing entries in the proper order. For transactions that have more than 1 debit or more than 1 deditDebitAccount Title and Explanation Date May 31Amount Amount RO RO Amount of life Insurance fund at the beginning of the year 765,281 Annuities 14,710 Claims by death 38,490 Bonus paid in cash 4,725 Claims by maturity 28,210 Bonus paid in reduction of Premium 1,250 Premiums 105,286 Surrenders 10,930 Expenses of management 9,945 Claims admitted but not paid at the end of year 40,017 Commission on reinsurance accepted 13,271 Annuities due but not paid 11,190 Consideration for annuities granted 5,310 Income tax paid on profits 1,530 Interest dividends and rent 26,230 Fines collected 46 Adjustments: (a) Claims covered under reinsurance RO 5,000 (b) Further claims initiated RO 4,000 (c) Further bonus utilized in reduction of premium RO 750 (d) Interest Accrued RO 7,700 (e) Premiums outstanding RO 3,700 From the above information Prepare Revenue Account and based on the prepared revenue account answer the following ‘6’ multiple choice…
- Homework: - The trial balance of AL Rand Company comes on December 31, 2019 Account name $ Notes Payable Capital 14,400,000 55,110,000 90,000 6,000,000 15,900,000 6,900,000 4,500,000 17,700,000 15,000,000 3,600,000 Reserves Cash Notes Receivable Securities investments Goods for the last period Patent Goodwill Brand Required Activate Windows The preparation of the statement of financial position (balance sheet) as on 31-12-201om te x O Indian X Conten X O My App X Reset F X Cengag x O Mail -E X Indian m/ilm/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inpro.. Q < * * eBook Show Me How Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $6,800,000 and sales for the year total $81,500,000. a. The allowance account before adjustment has a debit balance of $68,250. Bad debt expense is estimated at % of 1% of sales. b. The allowance account before adjustment has a debit balance of $68,250. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $575,000. c. The allowance account before adjustment has a credit balance of $45,000. Bad debt expense is estimated at % of 1% of sales. d. The allowance account before adjustment has a credit balance of $45,000. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $450,000.…Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- olo owns a varlety store called Stars Forever. The following are purchases of Inventory, returns, and discounts for the month of March. Purchased $2,000 of merchandtse from Sundance Furmiture on account, Involce 2177, with a 1% trade discount. Credit terms 2/1o, n/30. Pald rent for the month of March. Issued Check 145 for $2,100. Purchased merchandise from Taylor Supplies. Issued Chedk 146 for $1,65o. Purchased $2,400 of merchandise from Fuentes Co. on aCDount, Involce 2178. Credit berms 1/15, /30. Returned $400 of the merchandise from Fuentes Co. Recelved Credit Memorandum 11. Pald Involce 2177 to Sundance Furmiture. 1Issued check 147 for $1,940.40. s Purchased $3,700 of merchandise (Indluded $150 frelght) from Sky Divers Inc. on account, Involce 2179. Credit terms 1/10, n/30, FOB shipping polnt. - Purchased $210 of office supplies from willow Inc. on account, Invoce 2180. Credit terms 2/10, n/30. Pald Involce 2178 to Fuentes Co. Issued Check 148 for $1,980. Pald Involce 2179 to Sky…Collection of Amounts Previously Written Off Customer Rob Hufnagel owes Kellman Corp. $1,250. Kellman determines that the total amount is uncollectible and writes off all of Hufnagels debt. Hufnagel later pays $350 to Kellman. Required: Make the appropriate journal entries (if any) to record the receipt of $350 by Kellman.Good Luck Co. for Adevertising Post adjesting Trial balance October, 31 2020 Debit $ Account Credit $ Cash Prepaid insurance Supplies equipment land 56,850 550 lood 7,700 10,000 Car 5,00 account recievable 2,900 accumlated deprecation Note payable account payable l00 500 4000 600 unearned Revenue owner's Capital loj00 owner's drawing 1500 Revenues 86,400 Salaries expenses l01000 uniform expenses 3000 miaintance Carexp l00 maintance printer 250 maintance photocopier 200 goo rent expenses g0 advertising expenses uj000 200 electricity bils deptecision exp Бо 100 insurance exp. Interestexp 50 50 in terest payable Supplies enp 1800 106, 150 3 106,150 $