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Presentation/PPT
27/08/2022
I’m on required part 2a. I need help figuring this out. I tried taking 10%(41500+7000-5000-1500)=4200 but this was incorrect. I cant seem to figure this out. I Need some guidance.
Complete thetransactioncycle using5- 2, 5 – 4,12 , 3002 , 20029 , 900106 ,000124 , 800$ 27 5 , 200Credit$6 , 70010, 00024 , 20 041 , 50070, 90(85, 00 015 , 700$ 275 , 200Debit$ 21 , 200it `te the Receivables turnover ratio for the month of January ( Hint : For the numerator ,receivables turnover ratios for the month of January is 4 . 2 times , is the company collectingCalculate the ratio of Allowance for Uncollectible Accounts to Accounts Receivable at theend of January . Based on a comparison of this ratio to the same ratio at the beginning ofJanuary , does the company expect an improvement or worsening in cash collections from2 . Estimate that 10% of the balance of accounts receivable ( after transactions in requirement ! )b . Accrue interest on the note receivable of $10 , 000 , which was accepted on October 1 , 2021.cash from customers more or less efficiently than other companies in the same industry ?for transactions during the year ( requirement 1 ) and adjusting entries at the end of the year2 . Receive cash from customers within 10 days of the services being provided on account . The“ total services provided to customers on Account ) . If the industry average of theE5 – 22 The general ledger of Pop’s Fireworks includes the following account balances in 2021 :3 . Prepare an adjusted trial balance as of December 31 , 2021 , after updating account balancesheel as of january 31 , 20211 . Provide additional services on account for $7 , 000. All services on account include termsIn addition , the following transactions occurred during 2021 and are not yet reflected in the” well So Fondly Fireworks manages its receivables :Allowance for Uncollectible AccountsNotes Receivable ( 8% , due in 2 years )2 . Record the following adjusting entries on December 31 .3 . Write off customer accounts of $1 , 500 as uncollectible*Accounts Receivablecustomers were originally charged $5 , 000 .1 . Record each of the transactions listed above .Interest is due each September 30 .Supplies ExpenseAccounts PayableRetained EarningsSalaries ExpenseUtilities ExpenseService Revenue*Common Stockcustomers on credit sales ?`TotalsAccountsSuppliesCashLandwill not be collected .account balances above :`( requirement 2 ) .2 / 10 , 1 / 30 .b .Required :”
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The writer is very fast, professional and responded to the review request fast also. Thank you.
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