ACCT 1005: Assignment 4 P5.1 (LO2) Presented below in managing cheile farscamote AG 6 Number of Days Past Due Not Customer Total 1-30 31-60 61-90 Over 90 Anders 22000 10.000 12.000 5 Blake 40.000 (40.000 6 Cyr 57.000 16.000 5.000 25,000 7 Deleon 34.000 64,000 Others 132.000 16.000 14.000 6,000 85.000 C1512.000 2.000 26.000 35,000 10,000 Estimated 10 Percentage Uncollectible Total Estimated Bad Debits 1610 14.550 1.90 120 8.750 90.000 12 M December 31, 2020, the adjusted balance in Allowance for Diabetul Accomes in credit of 12.000 Instructions 1. Journaline and on the force December 31, 2020 Journalise and post to the allowance the wing events and transactions in the year 2021 1. On March , 1000 conceping in 2000 in jadped uncollectible 2. On May I a check for 1,000 is from the customer woccount was written off collectibles March c. Journalise the adjusting entry fox had des December 31, 2021. ming that the adjusted balance in Allowance for the Af and the agische le indicates that total estimated babes will be 1.600 1923 (LO 2) On January 1.2001Peleles the following the machines for weinin production proces Machine At The cash pice of this machine 535.000. Related expenditures includedales tax R2,300 dipping cost RSS e Garing shipping R$80, installatie test 70 and 100 landicants to be used with the machinery during is fint year of operation Polish the full of the machine is 5 years with a R$5.000 residual the end of that time period. Asume that the straight-line method of depreciate in med Machine The orded cost of this wa RS80.000 Pele estimates that the weful life of the machine years with a R$5.000 dual value remaining at the end of that time Instructions Prepare the following for Machine 1. The journal entry to record in peche Mary 1, 20:20 2. The Journal entry to record al depreciate at December 31, 2020 Calculate the amount of depreciation expense te should record for Machine Beach year of its useful life under the following 1. Peleuses the straight line method of depec 2. Pelemes the declining-bulance method. The need is twice the straigh-lintritt 1. Pele uses the units activity the states that the weful life of the machine is 125.00 units. Actuales 4.000 2001, 37,000 i 2022 28.000 unit and 2023. 18.000 Which method used to calculate depreciation Machine Beets the highest amount of deprecia tion expense in yeu 1200019 The Highest amous in your 46302317 The highest toal amount over the 4-year period 19.6 ILO You Twins quipment that com 50.000 and that has been depreciated 22.000 Instructions Record the disposal under the following a. It was supped having b. I was sold for 25.000 ch was so 1.000 PR.3 (LO2) Presented below is an aging chedule for Sycamore AG B 6 Estimated D E 1 G Not Number of Days Past Due Customer Total Yet Due 1-30 31-60 Over 90 Anders 22000 10,000 12000 Blake 40,000 40.000 57.000 16,000 6.000 65.000 7 Deleon 34.000 04.000 Others 132.000 95,000 16.000 5,000 285.000 E152.000 2000 26.000 85.000 680 000 10 Percentage Uncollectible 65 1 255 1. Total Estimated Bad Debts 12 38.610 4.560 1.920 2.2 85 90.000 A December 31, 2020, the unadjusted balance in Allowance for Deal Accredit of 12,000 Instructions 1. Journalise and post the adjusting entry for had dates at December 31, 2020 1. Journalize and post to the allowance the following events in the year 2021 1. On March 31, 1.000 customer balance originating in 2000. godine 2. On May 31, check for 1.000 is moeived from the customer who was writen off as uncollectible on March 31 c. Journaline the adjusting entry for bad debts on December 1, 2021.g that the adjusted balance in Allowance for Doubtful Account is a debt of 800 and the agischedule indicates that total estimated bad debts will be 1.600 19.1 (L02) On January 1, 2020, Pele Industries purchased the following the machines for use in its production process Machine A: The cash price of this machine was R$35,000. Related expens includest sales tas R$2.200, shipping costs RSISO, ince during shipping RS80, station and test ing costs R$ 70, and R$100 of oil and lubricants to be used with the machinery during its first year of operations. Prie estimates that the useful life of the machine is 5 years with a R$5.000 residual value remaining at the end of that time period. Auume that the straight-line method of depreciation is used Machine B: The recorded cost of this machine wa R$80.000. Pelemes that the weful life of the machine is 4 years with a R55.000 residual value in the end of that time period Instructions Prepare the following for Machine A 1. The Journal entry to record its purchase on January 1, 2020 2. The journal entry to record annual depreciation at December 31, 2000 b. Calculate the amount of depreciation expert the Pele beeld record for Machine Beach year of is useful life under the following asumption 1. Pele uses the straight line method of depreciation 2. Pele wes the declining-balance method. The rate sed is twice the right 2. Pele uses the units-of-activity method and estimates that the wee of the machine is 125.000 units. Actual wage is as follows: 2020, 42,000 2001. 37.000 i 2002. 28.000 units, and 2023, 18.000 c. Which method used to calculate depreciation on Machine reports the highest of deprecia tion expense in your 1 2020). The highest amount in year 4200233 The highest amount over the 4-year period %6(403) Youni Towing has equipment that con eso.000 and that has been deprecated 22.000 Instructions Record the disposal under the following umption a. I was scrapped as having no value b. It was sold for 25.000 l was sold for E31.000