mni.3answer must be in table format or i will give down vote Determine the missing amounts in each of these four separate situations a through dbSupplies available-prior year-end$225 $1,193 $1,014 $1,375Supplies purchased during current year1,5754,0565,594:4.656Total supplies available1,8005,2496.6086,031Supplies available-current year-end(675)4,356(1,494)(800)Supplies expense for current year1,1258936,6085.231

Situation a: Calculations: Supplies expense for current year = Total supplies available - Supplies…

Answered: Determine the missing amounts in each…

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter5: Operating Activities: Purchases And Cash Payments

Section: Chapter Questions

Problem 1.11C

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Question Content Area Determine the amount to be added to Allowance for Doubtful Accounts in each of the following cases and indicate the ending balance in each case. a. Credit balance of $460 in Allowance for Doubtful Accounts just prior to adjustment. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $7,630. Amount added $fill in the blank 1 Ending balance $fill in the blank 2 b. Credit balance of $460 in Allowance for Doubtful Accounts just prior to adjustment. Bad debt expense is estimated at 2% of credit sales, which totaled $1,045,000 for the year. Amount added $fill in the blank 3 Ending balance $fill in the blank 4
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Question Content Area After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $702,763 and Allowance for Doubtful Accounts has a balance of $22,123. What is the net realizable value of the accounts receivable? a. $702,763 b. $680,640 c. $724,886 d. $22,123
Problem 4-10 (AICPA Adapted) Rapture Company had the following information for eurrent year relating to accounta receivable: 13000 50000 4.750.000 125.000 Accounts receivable, January 1 Credit eales Collectiona from customers, excluding recovery Accounta written off Collection of accounta written off in prior year. customer credit waa not reestablished Eatimated uncollectible receivables per aging at December 31 25.000 165 000 What is the balance of accounta receivable, before allowane for doubtful accounts, on December 317 a. 1,825,000 b. 1,850,000 c. 1,950,000 d. 1,990,000
O Mail - Edjouline X E Content - ACG2 X * CengageNOW. X O (58) YouTube * from Towards a X m/ilm/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inpro. Q < ☆ STIOW Me TOW Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $410,000; Allowance for Doubtful Accounts has a credit balance of $3,500; and sales for the year total $1,850,000. Bad debt expense is estimated at 3/4 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Adjusted Balance Debit (Credit) Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable. Check My Work Previous Next V O 11:51
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AGING ACCOUNT RECEIVABLE ALLOWANCE FOR UNCOLLECTIBLE SCHEDULE AMOUNT UNCOLLECTIBLE AMOUNT 1-30 days $22,000 1% 31-60 days $6,500 2% 61-90 days $300 5% Total Uncollectible Balance Using the aging schedule above, which of the following is the total uncollectible O $500 O $365 O $284.35 $302
Fill in the missing items for the following inventories: A B C Beginning Balance $9,750 $18,200 Ending Balance $10,000 $2,000 $12,400 Transfered In $36,000 $44,000 Transfered Out $17,500 $42,000
Percent Uncollectible Age Class Balance Not past due 1-30 days past due 31-60 days past due 61-90 days past due 91-180 days past due Over 180 days past due $ 892,000 4% 285,000 1 101,000 8. 63,000 16 43,100 50 17,700 80 $1,401,800 a. Estimate what the total balance of the allowance for doubtful accounts should be as of December 31. b. Journalize the adjusting entry for uncollectible accounts as of December 31.
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