Beeler Furniture Company Bank Reconciliation & Cash Balance Assignment Please see the instructions in the attachment section Problem 8-2A Name: Section: Sc

Beeler Furniture Company Bank Reconciliation & Cash Balance Assignment Please see the instructions in the attachment section Problem 8-2A
Name:
Section:
Score:
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Instructions
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JOURNAL
Date
Jan.
Account
1
12
31
31
31
Debit
Credit
Problem 8-5A
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Section:
Score:
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Instructions
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1.
BEELER FURNITURE COMPANY
Bank Reconciliation
June 30, 20Y2
Cash balance according to bank statement
Add:
Deduct outstanding checks:
Adjusted balance
Cash balance according to company’s records
Add:
Deduct:
Adjusted balance
2.
20Y2
June 30
30
3.
Amount to be reported as cash on the June 30 balance sheet
4.
(Key essay answer here)
Exercise 9-14
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Section:
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Instructions
Answers are entered in the cells with gray backgrounds.
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An asterisk (*) will appear to the right of an incorrect entry.
If no journal entry is required, select “No entry” and enter zeros in the amount columns.
JOURNAL
Date
a.
June
Account
Debit
Credit
Debit
Credit
8
Aug. 14
Oct. 16
16
Dec. 31
31
JOURNAL
Date
b.
June
Account
8
Aug. 14
Oct. 16
16
Dec. 31
31
Aging Class
(Number of Days Past Due)
Allowance Method
Receivables Balance
on December 31
0 – 30 days
31 – 60 days
61 – 90 days
91 – 120 days
More than 120 days
Total
Unadjusted credit balance of allowance account
Adjustment
c.
Bad debt expense under:
Allowance method
Direct write-off method
Difference
$ 320.000
110.000
24.000
18.000
43.000
$ 515.000
Estimated Doubtful Accoun
Percent
Amount
1%
3%
10%
33%
75%
timated Doubtful Accounts
Amount
Problem 9-2A
Name:
Section:
Score:
Key Code:
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[Key code here]
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
Enter a zero in cells you would otherwise leave blank.
1.
Customer
Due Date
Adams Sports and Flies
Blue Dun Files
Cicada Fish Co.
Deschutes Sports
Green River Sports
Smith River Co.
Western Trout Company
Wolfe Sports
May 22, 20Y6
Oct. 10, 20Y6
Sept. 29, 20Y6
Oct. 20, 20Y6
Nov. 7, 20Y6
Nov. 28, 20Y6
Dec. 7, 20Y6
Jan. 20, 20Y7
Number of Days
Past Due
2., 3.
Aging of Receivables Schedule
December 31, 20Y6
Days Past Due
Customer
Not Past
Due
Balance
AAA Outfitters
Brown Trout Fly Shop
$
20,000
7,500
Zigs Fish Adventures
Subtotals
Adams Sports and Flies
Blue Dun Files
Cicada Fish Co.
4,000
$ 1,300,000
5,000
4,900
8,400
$
1 – 30
31 – 60
Over
120
91 – 120
20,000
$
$
61 – 90
750,000
4,000
$ 290,000
7,500
$ 120,000
$
40,000
$
20,000
$
80,000
Deschutes Sports
Green River Sports
Smith River Co.
Western Trout Company
Wolfe Sports
Totals
7,000
3,500
2,400
6,800
4,400
$ 1,342,400
Percent uncollectible
Estimate of
uncollectible accounts
4.
5.
On the balance sheet, the omission would cause:
assets to be
by
owner’s capital to be
by
On the income statement, the omission would cause:
expenses to be
by
net income to be
by

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