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Three different parts. 8, 9&10

need help kn E-10

Pasta Format A2 - x fx | BCDEFG 201: E-08 - BANK STATEMENT ML. Received the Bank Statement. Discovered that check 2395 is for Petty Cash that cleared the bank but was not recorded on the books. LOC is interest the bank charged us on a loan. The NSF was a customer bouncing a check to us. The EFT is for health insurance. 5 6 8 BANK STATEMENT Bank Statement, Beg Bal Add Deposits Subtract Checks Add Interest Earned Subtract LOC Interest Subtract NSF Retum Subtract EFT Subract Bk Chgs Ending Balance 13,598 17,500 (3,287) 25 (125) (300) (197) Health Insurance (15) Bank Charges 27,199 19 Deposits 100 Petty Cash 798 500 3,000 5,000 7,000 2,500 25 17,525 2395 2396 2397 2398 2400 2401 2402 TOTAL CHECKS Interest Earned TOTAL DEPOSITS 3,287 CK # CASH - GENERAL LEDGER DATE Beginning Balance 10/1 CK AMT DEP BALANCE 13,094 798 12.800 | 2396 16 Subract Bk Chgs 17 Ending Balance (15) Bank Charges 27,199 18 Petty Cash 19 Deposits 3,000 5,000 7,000 2,500 Interest Earned 25 TOTAL DEPOSITS 17,525 100 798 500 1200 2395 2396 2397 2398 2400 2401 2402 TOTAL CHECKS 493 3,287 CASH - GENERAL LEDGER DATE 30 Beginning Balance 10/1 10/5 10/15 CK# CK AMT DEP BALANCE 13,094 2396 798 12,800 3,000 15,800 2397 500 15,300 2398 1,200 14,100 5,000 19,100 2399 652 18,448 24004 93 2401 25 17,930 7,000 24.930 24,759 24,465 2,500 26,965 26,264 8,500 34,764 34.431 17.955 10/20 2402 FLETA 10 INI ml in IN 08-BK STMT 08-BK REC 08-PETTY CASH 09-INTER & WRITE- Ready Me AZ 4 x x -08 - BANK RECONCILIATION BAL, PER BANK SELLE ADJ BAL, PER BANK BAL, PER BOOKS NON 9399 SANS MARRIBAR 28 ADJ BAL, PER BOOKS JOURNAL ENTRY 08-BK STMT 08-BK REC 08-PETTY CASH 09-INTER & WRITE-OFF0 9-BD Ready Format E-08 - PETTY CASH Prepare Three Journal Entries: Establish a Petty Cash Fund. AMOUNT 2 Replenish the Petty Cash Fund based on the following: (Joumal entry to replenish) NEUBURB O Noun Cash Postage Office Exp Gas Supplies Donation 3 Replenish the Petty Cash Fund based on the following: (Joumal entry to replenish) Cash Postage Office Exp Gas UU. Wob Supplies Donation 2 x fx 201: E-09 - INTEREST CALCULATIONS v. Calculate Interest on the following amounts ROUND TO NEAREST SET LE PRINCIPLE 45,000 RATE 12% TIME 90 days 50,000 13% 4 months c. 55,000 14% 5 months 60,000 15% 180 days VI. BAD DEBTS Prepare the journal entries to reflect these transactions 9.000 A. We sold merchandise on account to a customer B. Customer pays on account: C. Customer refuses to pay, so write off amount owing. D. Customer agrees to make a payment on the note. 11.000 A2 X fx 201 E-09: UNCOLLECTIBLES Calculate & journalize the uncollectible amount: Prepare the journal entry using the income statement approach. NOMINA CREDIT SALES % UNCOLLECTIBLE 2,000,000 3.00% b. Using the balance sheet approach, prepare the journal entry if the allowance account has a debit balance of $2,000. TOTAL Current 600,000 1% 31 - 60 61 - 901 90-120 S 00,000 300.000 200.000 2% 3% 5% 120+ 100.000 20% NA NINA ALLOW FOR BD 2,000 c. Using the balance sheet approach, prepare the journal entry if the allowance account has a credit balance of $3,000. MIMI ALLOW FOR BD 3.000 08-BK STMT 08-BK REC 08-PETTY CASH 09 INTER 8 WRITE-OFF 09-BD TX GHI 1 201: E-10 - DEPRECIATION-5 YEAR PROPERTY L T E 1 (9 ) ICOST 178,000 RESIDUAL 3,000 #YEARS 5 VIII. Calculate the following: STRAIGHT-LINE YR 1 14 PRODUCTION METHOD 500.000 Estimated Prod Hrs: YRI | 110,000 YR 2 105,000 YR 3 100,000 YR 4 100,000 YRS 85,000 500,000 DDB YR % DEPREC BK VAL YRIT YR21 YR 3 YR MACRS YRI YR 2 YR 3 YR 4 YRES YR 6 0.2000 0.3200 0.1920 0.1152 0.1152 0.0576 08-BK STMT 08-PETTY CASH 09-8D 08-BK REC 09-INTER & WRITE-OFF 10-DEP Ready v ft 201: E-10 - DISPOSALS IX. Uslag the calculations from the previous page, prepare journal entries for following Independent questions. 1. The company discards the asset END OF YEAR # RECEIVES METHOD STRAIGHT-LINE The asset is sold for cash: END OF YEAR# RECEIVES 80,000 METHOD MACRS 21 3 The asset is sold for cash: END OF YEAR # RECEIVES 45,000 METHODE DDB 4 The asset has major repairs, which extends its useful life: END OF YEAR REPAIRS 38,500 METHOD PRODUCTION EXTENDED USEFUL LIFE375,000 NEW RESIDUAL YRST YR 6 110.000 99,000 87.000 COST AD BV + RPRS = NEW BV YR YRS 29.000 375,000 08-BK STMT 08-BK REC 08-PETTY CASH 09-INTER & WRITE-OFF 09 BU HAMI fo x 201: E-10 - TRADE-INS X. Using the calculations from the depreciation pegs, prepare journal entries 6 ) 1 The asset is traded for a dissimilar anset: DO NO END OF YEART 2 NEW ASSET COST 180,000 METHOD STRAIGHT-LINE TRADE-IN ALLOWANCE 105,000 Balance is financed with a NP. 5 14 2 The asset is traded for a dissimilar asset: END OF YEAR1 31 NEW ASSET COST 185,000 METHOD PRODUCTION 19 TRADE-IN ALLOWANCE 75.000 Balance is financed with a NP. 3 The asset traded for a similar (like-kind) asset. Prepare the entry for financial accounting. ARANAN END OF YEART NEW ASSET COST 190,000 METHODLDDB 28 TRADE-IN ALLOWANCE 19,000 Balance is financed with a N/P 324 The asset traded for a similar (like-kind) asset. Prepare the entry for income tax purposes. END OF YEAR NEW ASSET COST 190,000 METHODE DDB 32 TRADE-IN ALLOWANCE 19,000 Balance is financed with a N/P 415 The asset traded for a similar (like-kind) asset. Prepare the entry for income tax purposes. 08-BK STMT 08-BK REC 08-PETTY CASH-09-INTER & WRITE-OFF Ready 09-BD END OF YEAR NEW ASSET COST 190,000 METHODDDB TRADE-IN ALLOWANCE 19,000 Balance is financed with a N/P. LE 4 The asset traded for a similar (like-kind) asset. Prepare the entry for income tax purposes. NA DO UN NOU END OF YEAR NEW ASSET COST 190,000 METHODDDB 7 TRADE-IN ALLOWANCE19,000 Balance is financed with a N/P 5 The asset traded for a similar (like-kind) asset. Prepare the entry for income tax purposes. END OF YEAR NEW ASSET COST 200,000 METHOD MACRS TRADE-IN ALLOWANCE15,000 Balance is financed with a N/P Pasta Format A2 - x fx | BCDEFG 201: E-08 - BANK STATEMENT ML. Received the Bank Statement. Discovered that check 2395 is for Petty Cash that cleared the bank but was not recorded on the books. LOC is interest the bank charged us on a loan. The NSF was a customer bouncing a check to us. The EFT is for health insurance. 5 6 8 BANK STATEMENT Bank Statement, Beg Bal Add Deposits Subtract Checks Add Interest Earned Subtract LOC Interest Subtract NSF Retum Subtract EFT Subract Bk Chgs Ending Balance 13,598 17,500 (3,287) 25 (125) (300) (197) Health Insurance (15) Bank Charges 27,199 19 Deposits 100 Petty Cash 798 500 3,000 5,000 7,000 2,500 25 17,525 2395 2396 2397 2398 2400 2401 2402 TOTAL CHECKS Interest Earned TOTAL DEPOSITS 3,287 CK # CASH - GENERAL LEDGER DATE Beginning Balance 10/1 CK AMT DEP BALANCE 13,094 798 12.800 | 2396 16 Subract Bk Chgs 17 Ending Balance (15) Bank Charges 27,199 18 Petty Cash 19 Deposits 3,000 5,000 7,000 2,500 Interest Earned 25 TOTAL DEPOSITS 17,525 100 798 500 1200 2395 2396 2397 2398 2400 2401 2402 TOTAL CHECKS 493 3,287 CASH - GENERAL LEDGER DATE 30 Beginning Balance 10/1 10/5 10/15 CK# CK AMT DEP BALANCE 13,094 2396 798 12,800 3,000 15,800 2397 500 15,300 2398 1,200 14,100 5,000 19,100 2399 652 18,448 24004 93 2401 25 17,930 7,000 24.930 24,759 24,465 2,500 26,965 26,264 8,500 34,764 34.431 17.955 10/20 2402 FLETA 10 INI ml in IN 08-BK STMT 08-BK REC 08-PETTY CASH 09-INTER & WRITE- Ready Me AZ 4 x x -08 - BANK RECONCILIATION BAL, PER BANK SELLE ADJ BAL, PER BANK BAL, PER BOOKS NON 9399 SANS MARRIBAR 28 ADJ BAL, PER BOOKS JOURNAL ENTRY 08-BK STMT 08-BK REC 08-PETTY CASH 09-INTER & WRITE-OFF0 9-BD Ready Format E-08 - PETTY CASH Prepare Three Journal Entries: Establish a Petty Cash Fund. AMOUNT 2 Replenish the Petty Cash Fund based on the following: (Joumal entry to replenish) NEUBURB O Noun Cash Postage Office Exp Gas Supplies Donation 3 Replenish the Petty Cash Fund based on the following: (Joumal entry to replenish) Cash Postage Office Exp Gas UU. Wob Supplies Donation 2 x fx 201: E-09 - INTEREST CALCULATIONS v. Calculate Interest on the following amounts ROUND TO NEAREST SET LE PRINCIPLE 45,000 RATE 12% TIME 90 days 50,000 13% 4 months c. 55,000 14% 5 months 60,000 15% 180 days VI. BAD DEBTS Prepare the journal entries to reflect these transactions 9.000 A. We sold merchandise on account to a customer B. Customer pays on account: C. Customer refuses to pay, so write off amount owing. D. Customer agrees to make a payment on the note. 11.000 A2 X fx 201 E-09: UNCOLLECTIBLES Calculate & journalize the uncollectible amount: Prepare the journal entry using the income statement approach. NOMINA CREDIT SALES % UNCOLLECTIBLE 2,000,000 3.00% b. Using the balance sheet approach, prepare the journal entry if the allowance account has a debit balance of $2,000. TOTAL Current 600,000 1% 31 - 60 61 - 901 90-120 S 00,000 300.000 200.000 2% 3% 5% 120+ 100.000 20% NA NINA ALLOW FOR BD 2,000 c. Using the balance sheet approach, prepare the journal entry if the allowance account has a credit balance of $3,000. MIMI ALLOW FOR BD 3.000 08-BK STMT 08-BK REC 08-PETTY CASH 09 INTER 8 WRITE-OFF 09-BD TX GHI 1 201: E-10 - DEPRECIATION-5 YEAR PROPERTY L T E 1 (9 ) ICOST 178,000 RESIDUAL 3,000 #YEARS 5 VIII. Calculate the following: STRAIGHT-LINE YR 1 14 PRODUCTION METHOD 500.000 Estimated Prod Hrs: YRI | 110,000 YR 2 105,000 YR 3 100,000 YR 4 100,000 YRS 85,000 500,000 DDB YR % DEPREC BK VAL YRIT YR21 YR 3 YR MACRS YRI YR 2 YR 3 YR 4 YRES YR 6 0.2000 0.3200 0.1920 0.1152 0.1152 0.0576 08-BK STMT 08-PETTY CASH 09-8D 08-BK REC 09-INTER & WRITE-OFF 10-DEP Ready v ft 201: E-10 - DISPOSALS IX. Uslag the calculations from the previous page, prepare journal entries for following Independent questions. 1. The company discards the asset END OF YEAR # RECEIVES METHOD STRAIGHT-LINE The asset is sold for cash: END OF YEAR# RECEIVES 80,000 METHOD MACRS 21 3 The asset is sold for cash: END OF YEAR # RECEIVES 45,000 METHODE DDB 4 The asset has major repairs, which extends its useful life: END OF YEAR REPAIRS 38,500 METHOD PRODUCTION EXTENDED USEFUL LIFE375,000 NEW RESIDUAL YRST YR 6 110.000 99,000 87.000 COST AD BV + RPRS = NEW BV YR YRS 29.000 375,000 08-BK STMT 08-BK REC 08-PETTY CASH 09-INTER & WRITE-OFF 09 BU HAMI fo x 201: E-10 - TRADE-INS X. Using the calculations from the depreciation pegs, prepare journal entries 6 ) 1 The asset is traded for a dissimilar anset: DO NO END OF YEART 2 NEW ASSET COST 180,000 METHOD STRAIGHT-LINE TRADE-IN ALLOWANCE 105,000 Balance is financed with a NP. 5 14 2 The asset is traded for a dissimilar asset: END OF YEAR1 31 NEW ASSET COST 185,000 METHOD PRODUCTION 19 TRADE-IN ALLOWANCE 75.000 Balance is financed with a NP. 3 The asset traded for a similar (like-kind) asset. Prepare the entry for financial accounting. ARANAN END OF YEART NEW ASSET COST 190,000 METHODLDDB 28 TRADE-IN ALLOWANCE 19,000 Balance is financed with a N/P 324 The asset traded for a similar (like-kind) asset. Prepare the entry for income tax purposes. END OF YEAR NEW ASSET COST 190,000 METHODE DDB 32 TRADE-IN ALLOWANCE 19,000 Balance is financed with a N/P 415 The asset traded for a similar (like-kind) asset. Prepare the entry for income tax purposes. 08-BK STMT 08-BK REC 08-PETTY CASH-09-INTER & WRITE-OFF Ready 09-BD END OF YEAR NEW ASSET COST 190,000 METHODDDB TRADE-IN ALLOWANCE 19,000 Balance is financed with a N/P. LE 4 The asset traded for a similar (like-kind) asset. Prepare the entry for income tax purposes. NA DO UN NOU END OF YEAR NEW ASSET COST 190,000 METHODDDB 7 TRADE-IN ALLOWANCE19,000 Balance is financed with a N/P 5 The asset traded for a similar (like-kind) asset. Prepare the entry for income tax purposes. END OF YEAR NEW ASSET COST 200,000 METHOD MACRS TRADE-IN ALLOWANCE15,000 Balance is financed with a N/P

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