Exercise 18.9 Doubtful Debts – Ageing Method Over 2 Years GAMES GALORE LTD Required: A. Prepare and balance the Allowance for Doubtful Debts account and the Bad Debts Expense account for years ending 30 June 2013 and 30 June 2014. B. Prepare the necessary general journal entries to bring the allowance for doubtful debts to the appropriate amount at 30 June 2013 and 30 June 2014. A. Allowance for Doubtful Debts 2013 30/6 2012 Accounts Receivable $33 120 1/7 Balance $16 200 2013 Balance 25 000 30/6
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CHAPTER 7 Cash and Receivables ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. 2. Accounting for cash. Accounting for accounts receivable‚ bad debts‚ other allowances. Accounting for notes receivable. Assignment and factoring of accounts receivable. Analysis of receivables. Petty cash and bank reconciliations. Questions 1‚ 2‚ 3‚ 4‚ 21 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 11‚ 12‚ 13‚ 14‚ 15 14‚ 15 16‚ 17‚ 18‚ 19 20 22 Brief Exercises 1 2‚ 3‚ 4‚ 5 Concepts Exercises 1‚ 2 3‚ 4‚ 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 11‚ 12 18‚ 19
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2/10‚ n/30 | | | | | | | 8 | Purchase | 24‚000 | | | Accounts Payable | | 24‚000 | | Purchased patio umbrella terms 1/10‚ n/30 | | | | | | | 9 | Accounts Payable | 7‚500 | | | Purchase Return & Allowance | | 7‚500 | | Return 5 defected lounge chairs. | | | | | | | 10 | Freight In | 860 | | | Cash | | 860 | | Paid trucking firm on April 3 | | | | | | | 13 | Accounts Payable | 67‚500 | | |
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partner in the firm Sears and Roebucks. Fred’s investment in the partnership consists of P12‚000 in cash‚ and the following assets of the proprietorship: accounts receivable P14‚000 less allowance for doubtful accounts of P2‚000‚ and equipment P20‚000 less accumulated depreciation of P4‚000. It is agreed that the allowance for doubtful accounts should be P3‚000 for the partnership. The fair market value of the equipment is P17‚500. Instructions: Journalize Fred’s admission to the company Sears and Roebucks
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non-taxable benefit. The $1‚200 personal training cost is a taxable benefit. 2. Standby charge: (%2)($101‚000)(12) (11‚000/20‚004) = $13‚329 Operating Cost Benefit – Lesser of: [($0.27)(11‚000)] = $2‚970 [(1/2)(13‚329)] = $6‚665 Gas allowance benefit: ($300)(12) = $3‚600 Payment for operating expenses: ($7‚512) 3. As her employer contributes to the plan and the contributions do not create a taxable benefit‚ the $4‚345 in benefits received will be included in her employment income. This
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think people out-side of the country should be getting a child raising allowance check from Germany. Even if they use to live in the country. If they wanted the check they should have stayed in Germany. Plus the plaintiff’s husband works in Germany and the plaintiff herself works for border control. That means they can still live in Germany where it would be better for them to live and would still get a child raising allowance check every month. If the courts made a list of suggestions‚ then they
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was going with) ‚ punished by 1 year confinement‚ forfeiture of all pay and allowances (willfully disobeying an NCO’s order). Article 92: Failure to Obey a Lawful Order (Sgt Henshaw ordered me to tell the truth‚ and I didn’t)‚ punished by dishonorable discharge‚ 2 years confinement‚ forfeiture of all pay and allowances (if the situation involved a general order). BCD 6 month confinement‚ forfeiture of all pay and allowances (for the failure to tell the NCO the truth). Article 107: False Official Statements
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Partnership – Basic Considerations and Formation 1 CHAPTER 1 MULTIPLE CHOICE ANSWERS AND SOLUTIONS 1-1: a Jose’s capital should be credited for the market value of the computer contributed by him. 1-2: b (40‚000 + 80‚000) 2/3 = 180‚000 x 1/3 = 60‚000. 1-2: c 1-3: a Cash P100‚000 Land 300‚000 Mortgage payable ( 50‚000) Net assets (Julio‚ capital) P350‚000 1-4: b Total Capital (P300‚000/60%) P500‚000 Perla’s interest ______40% Perla’s capital P200
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Operant Conditioning B.F Skinner based his work on the work of Edward Thorndike who developed the law of effect theory (Olson & Hergenhahn‚ 2013). Through his work Skinner went on to identify fundamental principles of learning‚ based on experiments with pigeons and rats. From these experiments‚ Skinner developed an explanation as for how humans learn behaviors or change behaviors‚ and went on to infer that patterns of reinforcement shape behavior‚ which is operant conditioning. Comparing
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Question 11. In early 2003 Bristol-Myers Squibb announced that it would have to restate its financial statements as a result of stuffing as much as $3.35 billion worth of products into wholesalers’ warehouses from 1999 through 2001. The company’s sales and cost of sales during this period was as follows: 2001 2000 1999 Net sales $18‚139 $17‚695 $16‚502 Cost of products sold 5‚454 4‚729 4‚458 The company’s marginal tax rate during the three years was
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