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BUS591 - Financial Statement and Analysis Week 4 Homework Assignment Templates Instructions: Only enter data in the yellow boxes. The remaining areas are already completed for you. Submit the file as follows: lastnamewk4.docx Submit to the assignment box before the due date.
BUS591 - Financial Statement and Analysis Week 4 Homework Assignment Templates Instructions: Only enter data in the yellow boxes. The remaining areas are already completed for you. Submit the file as follows: lastnamewk4.docx Submit to the assignment box before the due date.
BUS591 - Financial Statement and Analysis Week 4 Homework Assignment Templates Instructions: Only enter data in the yellow boxes. The remaining areas are already completed for you. Submit the file as follows: lastnamewk4.docx Submit to the assignment box before the due date.
Instructions: Only enter data in the yellow boxes. The remaining areas are already completed for you.
Save the file as follows: lastnamewk4.docx
Submit to the assignment box before the due date. (Late assignments will receive a late penalty).
Problem 8-2B
(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
Date Account Titles and Explanation Debit Credit 1
2
3
4
5
(b) Enter the January 1, 2014 balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the transactions to the ledger T Accounts Be sure to post the amounts to the correct side of the T-Account!
(c) Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000.
Balance needed ............................................................................... $ Balance before adjustment [see (b)] ................................................ Adjustment required ........................................................................ $ The journal entry would therefore be as follows:
(d) Accounts Receivable Turnover Ratios:
Enter your answer here
Average Collection Period:
Enter your answer here
Problem 8-6B (next page)
(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
Date Account Titles and Explanation Debit Credit 5
20
Feb 18
Apr 20
30
May 25
Aug 18
Sept. 1
Problem 9-2B
(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
If there are two entries for the same day, then you do not need to enter the date again.
Date Account Titles and Explanation Debit Credit April 1
May 1
May 1
June 1
Sept 1
PART B
Dec 31
31
(c) Partial Balance Sheet
TONG CORPORATION Partial Balance Sheet December 31, 2014
Assets Plant assets Account title Amount Account title Amount Account title Amount Account title (or contra account) Amount Total plant assets Amount
Problem 9-7B
(a) BUS 1 Year Computation Accumulated Depreciation Amount Amount Amount
BUS 2 Year Computation Accumulated Depreciation Amount Amount Amount
BUS 3 Year Computation Accumulated Depreciation Amount Amount Amount