Age Interval Not past e Percent Uncollectib $2,700,000 1-30 days pet o 1,200,000 2 31-60 neys pet que 180,000 . 51-00 says due ,000 91-180 days pant d 10,000 Over 180 days 20,000 $4,220,000 Assume that the Sun voy Rides had a negative balance of $41,343) as of December 31, 2013 ustrate the effects of the aptent fructible accounts auf December 31, 2013, on the arts and ancients If no account or activity is affected, select "No effect from the dropdown list and leave the corresponding number entry box blank Enter account decreases, cats, and the statement fact that is net income as negative amounts. However, for contra asset accounts, enter account Increases as a negat Financial Statement fact Dec. 31 Statement of C Balance Sheet Stockwelders Equty Ime Statement < -> Abutet e An 1-30 11-0 des p a 0000 40.000 1 Owy 18 days Ast Det. 1. acer WITH Dec. 31 Mate of C BO ( Ca M O 9835 1000 91-180 t the 4,000 13 Over 100 y past $422,000 Auma Ina the Financial Statement acts Usc. 31. Check My M Statement of Cash Flows Balance Sheet Income Stata sok for Sun Valley Rides had a negative balance of 5(41,145) as of December 31, 2013. Illustrate the effects of the adjustment for uncollectible accounts as of December 31, 2013, on the accounts and financial statements If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases, cash flow and the im net income as negative amounts. However, for contra asset accounts, enter account increases as a negative value Financial Statement Effects Balance Sheet Assets Liabilities Stockholders' Equity Dec. 31. Statement of Cash Flows Financing Investing Operating Check My WoNo effect bok uses remaining Income Statement Over 180 days past due 40,000 53 20,000 $4,220,000 81 Assume that the allowance for doubtful accounts for Sun Valley Rodes had a negative balance of $41,145) as of December 31, 2013 Dlustrate the effects of the adjustment for uncollectible accounts as of December 31, 2013, on the accounts and financial statements If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases, cash outflows, and the income stat net income as negative amounts. However, for contra asset accounts, enter account increases as a negative value. Financial Statement Effects Balance Sheet Assets Liabilities Stockholders' Equity Dec. 31. Statement of Cash Flows Income Statement Accounts payable Bad debt expense Sales Check My Work 5 more Check My Work uses remaining No effect Uncollectible Recev, hing Awance th Tustrate the effects on the aunts and tencial statements of the fuwing transactions in the counts of Kiches pot Company, a reset suoy company that uses the owns method of acting for unce If no account or activity is affected, select "No effect from the dropdown list and leave the corresponding number entry box blank Enter account decreases and cash outflows as negative July 3. Hacived $29,875 on an aunt Pinancial Statement Effects Balance Sheet Ast Stockholders Feity July 3 Statement of CaFlow Income Statement Financial Statement July 3. Statement of Cash Pancial Statements A O Statement of Cash Flow Shel Stock Fo 1 Sw Ung at the fan the acts and france data of the hang traction in the accounts of Kotchen Dept Company, a restaurant suppy company that uses the abowane method of accounting for funt activity is affected, select "effect" on the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outhows as negative amounts My 3 129,075 Financial Statement Effects My 3 Watering S w Balance Sheet L +Stockholders Equity Income Statement WIRE Mbunits of Kitchen Depot Company, a restaurant supply company that uses the allowance method of accounong for If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amo Juy 3. Received $29,875 on an account. Financial Statement Effects Balance Sheet Assets Liabilities Stockholders' Equity July, 3. Statement of Cash Flows Accounts receivable Income Statement Allowance for doubtful accounts No effect July 3. Write off the remaining $63,825 owed on account as uncollectible Financial Statement Effects July. 3. Balance Sheet Assets Liabilities + Stockholders' Equity + Statement of Cash Flows Oct. 8. Remstated the sccount that had been written off on July 3. (Do not recent the costin SAST VILLA Income Statement Spry company that uses the allowance method of accounting the If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative ama July 3. Received $29,875 on an account. Financial Statement Effects July. 3. Balance Sheet Assets Liabilities Stockholders' Equity Statement of Cash Flows July 3, Wrote off the remaining $63,825 owed on account as uncollectible Financial Statement Effects Accounts payable i ent Allowance for doubtful accounts No effect Balance Sheet Assets Liabilities + Stockholders' Equity July. 3. Statement of Cash Flows Oct. 3. Reinstated the account that had been written off on July 3. (Do not record the collection of cash yet.) Income Statement on the accounts and financial statements of the following transactions in the accounts of Kitchen Depot Company, a restaurant supply company that uses the allowance mathe activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflow 9,875 on an account. stement Effects July. 3. Balance Sheet Assets Liabilities: Stockholders' Equity Statement of Cash Flows If the remaining $63,825 owed on account as uncollectible. Statement Effects Income Stat Capital stock Retained earnings No effect Balance Sheet Assets Liabilities + Stockholders' Equity eBook Show Me How Video Financial Statement Effects Print tem July. 3. Balance Sheet Assets Liabilities + Stockholders' Equity Statement of Cash Flows Oct. 8. Reinstated the account that had been written off on July 3. (Do not record the collection of cash yet.) Financial Statement Effects Oct. 8. Income Statement Balance Sheet Assets Liabilities + Stockholders' Equity Statement of Cash Flows Oct. 8 Received $63,825 cash in full payment for the reinstated account. Financial Statement Effects Income Statement Balance Sheet Assets Liabilities + Stockholders' Equity Oct. 8. Statement of Cash Flows + Income Statement THE BALAS DE UIT eccounts and financial statements of the following transactions in the accounts of Kitchen Cepet Company, a restaurant supply company that uses the town mod of infor If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts July 3. Received $29,875 on an account. Financial Statement Effects Balance Sheet Assets Liabilities Stockholders' Equity July. 3. Statement of Cash Flows July 3 wrote off the remaining s63,825 owed on account as uncollectible Income Statement July 3. Wrote off the remaining $63,825 owed on account as uncollectible. Financial Statement Effects Balance Sheet Assets Liabilities Stockholders' Equity July. 3. Statement of Cash Flows Income Statement Oct. 8. Reinstated the account that had been written off on July 3. (Do not record the collection of cash yet.) Financial Statement Effects Balance Sheet Assets Liabilities . Stockholders' Equity Oct. 8. Statement of Cash Flows Oct. 8 Received $63,825 cash in full payment for the reinstated account. Financial Statement Effects Income Statement Balance Sheet Assets Liabilities + Stockholders' Equity Oct. 8. Statement of Cash Flows Income Statement BOOK Print Item Adjustment for Uncollectible Accounts Sun Valley Rides is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31, 2013, and a his Age Interval Percent Uncollectible 3 % 2 Balance Not past due $2,700,000 1-30 days past due 1,200,000 31-60 days past due 180,000 6 61-90 days past due 80,000 19 91-180 days past due 40,000 52 Over 180 days past due 20,000 81 $4,220,000 Assume that the allowance for doubtful unte for. Sun Vallay Rider had a negative balance of RIAL 345 of December 31.30ck 19 91-180 days past due 40,000 52 Over 180 days past due 20,000 81 $4,220,000 Assume that the allowance for doubtful accounts for Sun Valley Rides had a negative balance of $41,145) as of Deamber 21, 2013 Tustrate the effects of the adjustment for uncollectible accounts as of December 31, 2013, on the accounts and francial statements If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box bank, Extract c net income as negative amounts. However, for contra asset accounts, enter account increases as a negative value Financial Statement Effects Balance Sheet Assets Dec. 31. Statement of Cash Flows Income Statement