1.Listen to the video below for the exercise/problem. The video completes the problems using the book numbers.

1. 2.Open the Guidance Report and rework the problem with the changed numbers and place your answers on the guidance report. Do not alter the guidance report.
2. 3.Submit the guidance report using the Assignment Submission tab below. PLEASE USE THE TABLE FOR MAY- JUN
3. Complete the following problems and exercises:

Chapter Three, Exercises 4 and 8 Chapter Four, Exercises 3 and 6 Chapter Three, Problem 3 Chapter Four, Problem 3

http://ashford.mediaspace.kaltura.com/media/ACC205A+Chapter+3+Exercise+4/0_el824tnt

http://ashford.mediaspace.kaltura.com/media/ACC205A+Chapter+3+Exercise+8/0_z8ebj2rh

http://ashford.mediaspace.kaltura.com/media/ACC205A+Chapter+4+Exercise+3/0_k8qkaf0a

http://ashford.mediaspace.kaltura.com/media/ACC205A+Chapter+4+Exercise+6/0_gttnkl2a

http://ashford.mediaspace.kaltura.com/media/ACC205A+Chapter+3+Problem+3/0_130eh3o8

http://ashford.mediaspace.kaltura.com/media/ACC205A+Chapter+4+Problem+3/0_ojlbebg2

Your Browser Must be Open to Access Video LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT Exercise/ Problem Ch 3 Ex 4 Account to be changed Fish Trip Boat rental Questions Prepare journal entries to record (1) the collection of monies from tourists and (2) the revenue generated during January. Cash Unearned Fish Trips Unearned Fish Trips Earned Fish Trips Calculate Hawaii-Blue's total obligation to tourists at the end of January On what financial statement and in which section would this amount appear? What section of the financial statement would this amount appear? Prepare journal entries to record (1) the payment to Pacific Yacht Supply and (2) the subsequent adjustment on January 31. Prepaid Boat Rental Cash Boat Rental Expense Prepaid Boat Rental On what financial statement would HawaiiBlue's January boat rental cost appear? Account to be changed Original Amount Ch 3 Ex 8 Miguel Gomez, Drawing Service Revenue Rent Expense 2,500 38,000 9,000 Service Revenue Capital Capital Rent Expense Insurance Expense Advertising Expense Utilities Expense Capital Drawing Ch 3 Pb 3 Account to be changed Unrecorded interest Total Tuition in advance Depreciation Rent Salaries Feb 1 20X2 Jan 1 20X3 Original Amount 275 60000 3000 21000 400 540 912 YOUR ANSWERS BASED UPON COURSE START DATE Unrecorded interest owed to the center totaled $275 as of December 31. Interest Expense Interest Payable All clients pay tuition in advance, and their payments are credited to the Unearned Tuition Revenue account. The account was credited for $75,500 on August 31. With the exception of $15,500, which represented prepayments for 10 months' tuition from several well-to-do families, all amounts were for the current semester ending on December 31. Unearned Tuition Revenue Tuition Revenue Depreciation on the school's van was $3,000 for the year. Depreciation Expense Accumulated Depreciation On August 1, the center began to pay rent in 6-month installments of $21,000. Kathy wrote a check to the owner of the building and recorded the check in Prepaid Rent, a new account. Rent Expense Prepaid Rent Two salaried employees earn $400 each for a 5-day week. The employees are paid every Friday, and December 31 falls on a Thursday. Salary Expense Salaries Payable Kathy's Day Care paid insurance premiums as follows, each time debiting Prepaid Insurance: Date Feb. Jan. Aug. Paid 1, 20X2 1, 20X3 1, 20X3 Policy No. 1033MCM19 7952789HP XQ943675ST Insurance Expense Prepaid Insurance Ch 4 Ex 3 Balance per bank Note collected by bank Balance per bank Deposits in transit Outstanding checks Adjusted Bank Balance Balance per company records Bank service charge for January Interest on note collected by bank Note collected by bank NSF check returned by the bank with the bank statement Adjusted Book Balance Ch 4 Ex 6 Account to be changed 5% of credit sales 14% of accounts receivable (1) Uncollectible accounts are estimated to be 5% of Credit Sales. Uncollectible Accounts Expense Allowance for Uncollectible Accounts (2) Uncollectible accounts are estimated to be 14% of Accounts Receivable. Uncollectible Accounts Expense Allowance for Uncollectible Accounts How would Maverick's Accounts Receivable appear on the December 31 balance sheet under assumption (1) of part (a)? Accounts Receivable Less: Allowance for Uncollectible Accounts How would Maverick's Accounts Receivable appear on the December 31 balance sheet under assumption (2) of part (a)? Accounts Receivable Less: Allowance for Uncollectible Accounts Net Receivables Ch 4 Pb 3 Account to be changed Percentage of Accounts Expected to Be Collected What is the company's Uncollectible Accounts expense for 20X2? Compute the net realizable value of Accounts Receivable at the end of 20X2. Accounts receivable Less: Allowance for Uncollectible Accounts Net Realizable Value Compute the net realizable value at the end of 20X2 as a percentage of respective yearend receivables balances. Analyze your findings and comment on the president's decision to close the credit evaluation department. Ashford University ACC205 Guidance Report Week Two YELLOW INDICATES ACCOUNT AMOUNTS CHANGED Change Account to: Based Upon Course Start Date Original Amount 125 72,000 YOUR ANSWERS BASED UPON COURSE START DATE Jan-Feb 150 78,000 Mar-Apr 175 84,000 May-Jun 200 90,000 Jul-Aug 225 96,000 Sept-Oct 250 102,000 Nov-Dec 275 108,000 3000 39000 9500 YOUR ANSWERS BASED UPON COURSE START DATE 3500 40000 10000 4000 41000 10500 3500 47000 17000 5000 49000 17500 5500 50000 18000 Jan-Feb Mar-Apr May-Jun Jul-Aug Sept-Oct Nov-Dec 300 325 350 370 376 377 70000 71000 74000 75000 79000 83000 4000 4100 4200 4300 4400 4500 24000 30000 36000 42000 48000 54000 500 600 700 800 900 950 600 610 620 640 650 660 1000 1050 1060 1070 1090 1095 Length of Poli Amount 1 year $540 1 year 912 2 years 840 6150 1000 YOUR ANSWERS BASED UPON COURSE START DATE $6,252 1,102 $6,354 1,204 $6,456 1,306 $6,558 1,408 $6,660 1,510 $6,762 1,612 Original Amount 0 0 0.06 0.07 0.08 0.09 0.1 0.11 0.15 0.16 0.17 0.18 0.19 0.2 YOUR ANSWERS BASED UPON COURSE START DATE Original Amount 1 96% 93% 90% 87% 84% 81% YOUR ANSWERS BASED UPON COURSE START DATE Net Realizable value 20X2 20X2