1)Using the Direct Write Off Method of accounting for uncollectible receivables, journalize the following transactions:

a.Received $2500 from Ron Smith and wrote off the remainder of what he owed of$1500

b.Reinstated Ron Smith's account and collected the amount due of$1500

2)Using the Allowance Method of accounting for uncollectible receivables, journalize the following transactions:

a.Received $2500 from Ron Smith and wrote off the remainder of what he owed of$1500

b.Reinstated Ron Smith's account and collected the amount due of$1500

3)Using the Percent of Sales Method of accounting for uncollectible receivables, and the following data, answer the following:

a) what s the adjusted A/R Balance, b) What is the ending balance in the allowance for doubtful accounts account, and c) What is the Bad Debt Expense

A/R Balance $1,000,000

Allowance for D/A has a current credit balance of$4500

Annual Sales = $2,424,000

Bad Debt Expense of estimated to be of 1% ofsales

2)Hector Co. installs a new machine in its factory at the beginning of the year costing $50,000.The machines useful is 5 years with azero salvagevalue.The machine is expected to produce $400,000 units over its life.During its first year it produced 98,500 units.

a.Compute the depreciation for thefirst yearusing the straight-line method of depreciating, the units of production method of depreciating, and the double declining method ofdepreciating

b.Record the depreciation entry for the first year for each methodat 12/31

3)Rose Co. owns a machine that cost $200,000 and has accumulated depreciation of $100,000.Prepare the entry to record the disposal of the machine on January 1 under each of the following independent situations:(25 points)

a.Rose Co. sold the machine for$100,000

b.Rose Co. sold the machine for$85,000

c.Rose Co. sold the machine for$135,000

4)Using the Chapter 11 notes, explain:

a.What s Net Payroll?

b.What are payroll taxes and give an example of 2 of them?

c.Who pays payroll taxes?