I need help with The ones in Red Can you explain how you got results please and thank you i will be sure to leave a like if provided with correct answer
(f1) Your answer is partially correct. Journalize entries related to bank reconciliation and all adjusting entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry i No. Date Account Titles and Explanation Debit Credit 1. 3/31/2022 Other Operating Expenses | 100 || | Cash 100 2. 3/31/2022 Unearned Service Revenue 2800 Service Revenue 2800 3. 3/31/2022 Bad Debt Expense 2256 Allowance for Doubtful Accounts 2256 4. 3/31/2022 Depreciation Expense 743 Accumulated Depreciation Equipment 743 5. 3/31/2022 Depreciation Expense C 750 Accumulated Depreciation-Buildings 750 6. 3/31/2022 Amortization Expense 100 Patents 100 7. 3/31/2022 Income Tax Expense 24495 income tax payable L L 24495 Bank reconciliation data and adjustment data: 1. The company reconciles its bank statement every quarter. Information from the December 31, 2021, bank reconciliation is: Deposit in transit: 12/30/2021 $6,000 Outstanding checks #440 3,400 #452 400 #453 800 #454 5,890 The bank statement received for the quarter ended March 31, 2022, is as follows: Beginning balance per bank $27,690 Deposits: 1/2/2022, $6,000; 2/2/2022, $16,800; 3/30/2022, $173,000 195,800 Checks: #452, $400; #453, $800; #457, $16,010; #458, $97,000 (114,210) Debit memo: Bank service charge (record as operating expense) (100) Ending bank balance $109,180 2. Record revenue earned from item 1 above. 3. $24,000 of accounts receivable at March 31, 2022, are not past due yet. The bad debt percentage for these is 4%. The balance of accounts receivable are past due. The bad debt percentage for these is 24.00%. Record bad debt expense. (Hint: You will need to compute the balance in accounts receivable before calculating this.) 4. Depreciation is recorded on the equipment still owned at March 31, 2022. The new equipment purchased in February is being depreciated on a straight-line basis over 5 years and salvage value was estimated at $1,200. The old equipment still owned is being depreciated over a 10-year life using straight-line with no salvage value. 5. Depreciation is recorded on the building on a straight-line basis based on a 30-year life and a salvage value of $10,000. 6. Amortization is recorded on the patent. 7. The income tax rate is 30%. This amount will be paid when the tax return is due in April. (Hint: Prepare the income statement up to income before taxes and multiply by 30% to compute the amount.) Question 1 View Policies Show Attempt History Current Attempt in Progress Bramble Corp. prepares quarterly financial statements. The post-closing trial balance at December 31, 2021. is presented below. BRAMBLE CORP Post-Closing Trial Balance December 31, 2021 Credit Cash Accounts Receivable Debit $23.200 22.600 Allowance for Doubtful ACCOUNS $1.500 Equipment 22.000 Accumulated Depreciation-Equipment 10.000 100.000 Buildings Accumulated Depreciation-Buildings 10.000 Land 20,000 Accounts Payable Comman Stock 12.010 90.000 Retained Earnings 65,290 $168.800 $183.800 During the first quarter of 2022. the following transactions occurred: 1. On February 1, Bramble collected fees at $16.80p in advance. The company will perform $1 ADO of services each month from February 1 2022, ta January 31, 2018 2. On February 1 Bramble purchased computer equipment for $11.250 plus sales taxes of $750 $3,750 cash was paid with the rest on account Check 55 was used. 3. On March 1, Bramble acquired a patent with a 10-year e far $12,000 cash.Check 456 was used 4. On March 24, Bramble recorded the quarter's sales in a single entry. During this period, Bramble had total sales of $180,000 (not including the sales referred to in item 1 abovel. All of the sales were on account 5. On March 29, Bramble collected $173.000 from customers on account. 6. On March 29, Bramble paid $1601D an accounts payable. Check 457 was used. 7. On March 29, Bramble paid other operating expenses of $97.000. Check 58 was used. 1. On March 31, Bramble wrote off a receivable of $200 for a customer who declared bankruptcy. 9. On March 31, Bramble sold for $1,450 equipment that originally cost $10,000. It had an estimated Ite of 5 years and salvage of $1,000. Accumulated depreciation as of December 31, 2021, was $7,200 using the straight line method. (Hint: Record depreciation on the equipment sold, then record the sale.)
