1) 808 Inc. has the following account balances at the end of the current fiscal year:

Revenues (all credit): $ 1,350,000

Accounts Receivable: $450,000

Allowance for Doubtful accounts: $13,400

Prepare the journal entry to record bad debt expense and to adjust the allowance for doubtful accounts based on the following (note that there were no write-offs in the current period):

Using the percentage of total credit sales assuming a bad debt loss rate of 1.5%

Using an aging of accounts receivable based on the below:

Accounts Receivable aging:

Aging	Amount	Estimated Bad Debt Rate
0-30 days	250,000	0.5%
31-60 days	125,000	5%
61-90 days	50,000	10%
90+ days	25,000	50%

2) Note the following information related to a companys cash account :

Cash balancer per bank, 12/31/122	9,610
Check #6832 cleared the bank for $240, but erroneously recorded by company for $268
Outstanding checks	2,417
Deposit by ABC Inc erroneously recorded to the company by the bank	486
NSF check returned by bank	281
Cash balance per books, 12/31/22	7,430
December 2022 interest per bank	30
Check mailed to bank for a deposit that had not reached the bank by 12/31/22	500

Prepare a bank reconciliation for the company for the month ended December 2022.

Prepare any journal entries that should be made based on the reconciliation prepared.

3) ABC Company provides the following information related to its merchandise inventory for the month of September 2022:

September 1: 1,200 units on hand at $2.80 each

September 3: Purchased 5,600 units at $2.40 each

September 8: Sold 2,200 units for $4.50 each

September 12: Purchased 1,400 units at $2.50 each

September 17: Sold 3,000 units at $4.60 each

September 22: Purchased 1,600 units at $2.80 each

September 30: Inventory on hand 4,600 units.

ABC uses a periodic inventory system. Calculate COGS and ending inventory balances using FIFO, LIFO, and Average Cost methods (for avg cost, try your best to round. Show your work so I can follow what you do). Bonus: repeat all of the above assuming it uses a perpetual inventory system.

4) SD Co. acquired a piece of equipment on January 1, 2021 for $13 million. The equipment is expected to have a useful life of 18 years, have a salvage value of $1 million, and will be capable of producing 300 million units of the product. The equipment produced 18.6 million units and 19.5 million units in 2021 and 2022, respectively.

Given the above information, calculate current year depreciation and net book value of the equipment at 12/31/2022 based on as many depreciation methodologies as you can. Assume that the company uses double the normal rate for any accumulated methods. Bonus: Calculate based on a 4^th method not in the text/slides but discussed in class.