Alert Security Services Co. offers security services to business clients. Cr. Dr. 414 3,036 138 104 3,450 1,380 Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 2013 Adjusted Trial Balance Income Statement Balance Sheet Cr. Dr. Dr. Cr. Account Title Cash Accounts Receivable Supplies Prepaid Insurance Land Equipment Accum. Depr.-Equipment Accounts Payable Wages Payable Common Stock Retained Earnings Dividends 276 Fees Earned Wages Expense 828 Rent Expense 414 Insurance Expense 345 Utilities Expense 242 207 Supplies Expense Depreciation Expense-Equip. 69 Miscellaneous Expense 11,041 11,041 276 1,242 138 40 5,964 3,381 138 Prepare an income statement for Alert Security Services Co. Alert Security Services Co. Income Statement For the Year Ended October 31, 20Y3 $ Expenses Toral expenses Prepare a statement of stockholders' equity for Alert Security Services Co. During the year end require an entry, leave it blank. If a net loss is incurred or dividends were paid, enter that amo Alert Security Services Co. Statement of Stockholders' Equity For the Year Ended October 31, 20Y3 Common Stock Retained Earnings Total Prepare a balance sheet for Alert Security Services Co. Alert Security Services Co. Balance Sheet October 31, 20Y3 Assets Current assets: Total current assets Property, plant, and equipment: 5 $ Total property, plant, and equipment Total assets Llabilities Current liabilities: Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity 6. EX.05.15.ALGO (Algorithmic) Determining Amounts to be paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that a invoices were paid within the discount period: a. b. Merchandise Freight Customer Returns Invoice Amount Paid by Seller and Allowances $19,300 FOB destination, n/30 $1,000 11,600 FOB shipping point, 2/10, n/30 1,400 5,600 FOB shipping point, 1/10, n/30 500 2,900 100 FOB shipping point, 2/10, n/30 400 2,400 FOB destination, 1/10, n/30 $500 C. d. e. a $ b. $ 5 e. 7. EX.06.13.ALGO (Algorithmic) Pero vertery by three methods, cost of gods The units of an item available for sale during the year were few Jan 1 Inventory so units at $112 Mar. 10 Purchase 70 units at $124 Aug. 30 Purchase 30 units at 5132 Dec. 12 Purchase 50 units at $138 There are 60 units of the item in the physical inventory at December at the periodic inventory system nered, Determine the ending inventory coat and the cost of goods sold by three methods. Round interim cateodation to oni decimal and first rowers to the nearest which color Cost of Ending Inventory and cost of Goods Sold Inventory Method Ending Inventory Cost of Goods Sold First-in, first-out (FIFO) $ Last-in, first-out (LIFO) Weighted average cost 8. EX.07.18.ALGO (Algorithmic) Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 2016 1. Cash balance according to the company's records at August 31, $17,920. 2. Cash balance according to the bank statement at August 31, $19,030. 3. Checks outstanding, $3,640. 4. Deposit in transit, not recorded by bank, $2,920. 5. A check for $270 in payment of an account was erroneously recorded in the check register as $720. 6. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 13 Creative Design Co. Bank Reconciliation August 31, 2016 Cash balance according to bank statement 5 Adjusted balance Cash balance according to company's records Adjusted balance b. If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash? 5 c. Must a bank reconciliation always balance (reconcile)? 9. EX.08.04.ALGO (Algorithmic) Entnes for Uncollectible Receivables, using Nlowance Method c. $ d. $ e. $ NOTE 5007 Son Ya Neno nemy od 03. biotoo 7. EX.06.13.ALGO (Algorithmic) Periodic inventory by three methods: cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 50 units at $112 Mar. 10 Purchase 70 units at $124 Aug. 30 Purchase 30 units at $132 Dec. 12 Purchase 50 units at $138 There are 60 units of the item in the physical Inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost and the cost of goods sold by three methods, Round interim calculations to one de Cost of Ending Inventory and Cost of Goods Sold Inventory Method Ending Inventory Cost of Goods Sold $ $ First-in, first-out (FIFO) Last-in, first-out (LIFO) Weighted average cost 8. EX.07.18.ALGO (Algorithmic) Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 2016: 1. Cash balance according to the company's records at August 31, $17,920. 2. Cash balance according to the bank statement at August 31, $19,030. 3. Checks outstanding, $3,640. 4. Deposit in transit, not recorded by bank, $2,920. 5. A check for $270 in payment of an account was erroneously recorded in the check register as $720-11 6. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 13 OD Creative Design Co. Bank Reconciliation August 31, 2016 Cash balance according to bank statement $ $ Adjusted balance 2 $ Cash balance according to company's records Adjusted balance The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 2016: 1. Cash balance according to the company's records at August 31, $17,920. 2. Cash balance according to the bank statement at August 31, $19,030. 3. Checks outstanding, $3,640. 4. Deposit in transit, not recorded by bank, $2,920. 5. A check for $270 in payment of an account was erroneously recorded in the check register as $720. 6. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co. Bank Reconciliation August 31, 2016 $ Cash balance according to bank statement Adjusted balance Cash balance according to company's records Adjusted balance b. If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported fe $ c. Must a bank reconciliation always balance (reconcile)? 9. EX.08.04.ALGO (Algorithmic) Entries for Uncollectible Receivables, using Allowance Method A Cu Total llabilit C. S d. e. 7. EX.06.13.ALGO (Algorithmic) Periodic inventory by three methods; cout of goods sold The units of an item avaible for sale during the year were as follows Jan. 1 Inventory 50 units at $112 Mar. 10 Purchase 70 units at $124 Aug. 30 Purchase 30 units at $132 Dec. 12 Purchase so units at $138 There are 60 units of the item in the physical inventory at December 31. The periode inventory system is used. Determine the ending inventory cost and the cost of goods sold by three methods. Rouna interim calculations to one decimal and naturewers to the neare Cost of Ending Inventory and cost of Goods Sold Inventory Method Ending Inventory Cost of Goods Sold $ First-in, first-out (FIFO) Last-in, first-out (LIFO) Weighted average cost 8. EX.07.18.ALGO (Algorithmic) Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 2016 1. Cash balance according to the company's records at August 31, $17,920. 2. Cash balance according to the bank statement at August 31, $19,030. 3. Checks outstanding, $3,640. 4. Deposit in transit, not recorded by bank, $2,920. 5. A check for $270 In payment of an account was erroneously recorded in the check register as $720. 6. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co. Bank Reconciliation August 31, 2016 $ Cash balance according to bank statement 3 Adjusted balance Cash balance according to company's records 5 Adjusted balance b. If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash? 5 c. Must a bank reconciliation always balance (reconcile)? 9. EX.08.04.ALGO (Algorithmic) Entres for Uncollectible Receivables, using Allowance Method Total tabi Total stockholders eu. abies and stockho C05.15.ALGO (Algs bing Amounts to ho Journalize the following transactions in the accounts of Zippy Interiors company, a restaurant supply company that uses the allowance method of accounting for uncollectibie receivables: May 24 Sold merchandise on account to Old Town Cafe, $14,500. The cost of goods sold was $10,400. Sept. 30 Received $3,000 from Old Town Cafe and wrote off the remainder owed on the sale of May 24 as uncollectible. Dec. 7 Reinstated the account of Old Town Cafe that had been written off on September 30 and received $11,500 cash in full payment. If an amount box does not require an entry, leave it blank. May 24-sale May 24-cost Sept. 30 Dec. 7-reinstate Dec. 7-collection 10. EX.OR.TO.ALOO Algorithme Antrance Account Below is the aging of receivables schedule for Evers Industries Aging-of-Recevables Schedule November 30 1-30 31-60 61-90 Over 90 Not Days Days Days Days Balance Past Due Past Due Past Due Past Due Past Due 616,100 363,500 135,500 55,400 30,800 30,900 Customer Subtotals 12,400 19,800 9,100 Boyd Industries 12,400 Hodges Company 19,800 Kent Creek Inc. 9,100 Lockwood Company 8,000 8,000 Van Epps Company 28,800 28,800 Totals 694,200 392,300 143,500 Percentage uncollectible 2% 6% Allowance for Doubtful Accounts 71,941 7,846 8,610 64,500 25% 16,125 50,600 35% 17,710 43,300 50% 21,650 Assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $ 15,110 before adjustment on July 31 Journalize the adjusting entry for uncollectible accounts as of July 31. July 31