i need help with this questions part that sais "Aging of Receivables Schedule" i insert some amounts and the leftover i need help with. it is incomplete because need to insert more amounts. the amounts with the green tick showing on chart are some amounts i inserted correctly. i am extra pics of the chart in the last to show you which blanks need to be filled in the chart as well.
Instructions Trophy Fish Company supplies Nes and fishing gear to sporting goods stores and outfitters throughout the western United States. The accounts receivable clerk for Trophy Fish prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 2014: Net Days Past Due Days Paste Duys Past Due Days Past Due Days Past Due 2 Post Customer 1 Due 1-30 31-60 Over 120 61-90 91-120 MOutfitters Balance 20,000.00 7.500.00 20.000.00 5 Brown Trout Fly Shop 7,500.00 - 1 4000.00 4.000.00 Zig Fish Adventures Subtotals 750.000.00 290.000.00 40,000.00 1.500.000.00 120.000.00 20.000.00 80.000.00 Chart of Accounts First Question Aging of Receivables Schedule Additional Question Instructions The following accounts were unintentionally omitted from the aging schedules. Assume all due dates are for the current year except for Wote Sports, which is due in the next year. Customer Adam Sports & Fles Blue Dun Files Cicada Fish Co Deschutes Sports Green River Sports Smith River Co Western Trout Company Wolfe Sports Due Date May 22 Oct. 10 Sept. 29 Oct. 20 Nov. 7 Balance $5,000 4,900 8.400 7,000 3,500 Nov. 28 2.400 Dec. 7 6,800 Jan 20 4.400 Trophy Fish has a past history of uncollectible accounts by age category, as follows Percent Uncollectible Age Class Not past due 1-30 days at du Chart of Accounts First Question Aging of Receivables Schedule Additional Question Instructions Trophy Fish has past history of uncollectible accounts by a category, as follows: Age Class Percent Uncollectible 1% Not past due 1-30 days past due 2 10 31-60 days past due 61-90 days past due 30 40 91-120 days past due Over 120 days past due 80 1. Determine the number of days past due for each of the pronding accounts. If an account is not past due, enter a zero. 2. Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals a. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule 4. Assume that the allowance for doubtful accounts for Trophy Fish Company has a debit balance of $3,800 before adjustment on December 31. Journalize the adjusting entry for uncollectible accounts. Refer to the Chart of Accounts for exact wording of accounts 5. Assume that the adjusting entry in (4) was inadvertently omitted, how would the omission affect the balance sheet and income statement? Chart of Account CHART OF ACCOUNTS Trophy Fish Company General Ledger ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue 111 Petty Cash 121 Accounts Receivable-Adams Sports & Flies 122 Accounts Receivable-Blue Dun Flies 123 Accounts Receivable-Cicada Fish Co. 124 Accounts Receivable-Deschutes Sports 125 Accounts Receivable-Green River Sports 126. Accounts Receivable-Smith River Co. 127 Accounts Receivable-Western Trout Company 128 Accounts Receivable-Wolfe Sports 129. Allowance for Doubtful Accounts EXPENSES 510 Cost of Goods Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses Instructions First Question Aging of Receivables Schedule Additional Question Chart of Accounts 129 Allowance for Doubtful Accounts 529 Selling Expenses 530 Office Salaries Expense 131 Interest Receivable 132 Notes Receivable 531 Rent Expense 532 Depreciation Expense-Office Equipment 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 533 Insurance Expense 534 Office Supplies Expense 635 Store Supplies Expense 151 Prepaid Insurance 181 Land 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 191 Store Equipment 192 Accumulated Depreciation Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 211 Salaries Payable Check My Work LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Common Stock SHEET 311 Retained Earnings 312 Dividends ALGO ALGO ALGO ems Check My Work Instructions Chart of Accounts First Question Aging of Receivables Schedule Additional Question Shaded cele Aging of Receivables Schedule 2. Completo the aging of roonabis schedule by adeling the omitted accounts to the bottom of the schedule and updating the totals. Wan amount box does not require an entry blank. Aging of Receivables Schedule Score: 128/172 December 31, 2014 Days Past Due Days Past Due Days Past Due Days Past Due 91-120 Days Past Due Over 120 Gustomer 2 Balance Not Past Due 1-50 31-60 61-90 1 AAA Outfitters 20,000.00 20,000.00 * Brown Trout Fly Shop 7,500.00 7,500.00 4,000.00 4.000 DO Zig Fish Adventures Subtotals 1,300,000.00 750,000.00 290,000.00 120,000.00 40,000.00 7 20,000.00 30,000.00 5,000.00 5,000.00 # Adams Sports & Flies Blue Dun Flies 4,900.00 Instructions Chort of Accounts First Question Aging of Receivables Schedule Additional Question Aging of Receivables Schedule Shaded coils have Adams Sports & Files 5,000.00 5,000.00 9 Blue Dun Flies 4,900.00 10 Cicada Fish Co. 8.400.00 7,000.00 11 12 3,500.00 2,400.00 13 Deschutes Sports Green River Sports Smith River Co. Western Trout Company Wolle Sports 14 6,800.00 15 4400.00 4,400.00 16 Totals $1,342.400.00 754,400.00 1.0% Percentage uncollectible 2.0% 10.0% 30.0% 40.0% 80.0% Estimate of uncollectible accounts $121,000.00 $7.544.00 $5,936.00 $12,590.00 $15.570.00 $11,360.00 $68,000.00 Prisi Instructions Chart of Accounts First Question Aging of Receivables Schedule Additional Question Aging of Receivables Schedule Shaded celisho Brown Trout Fly Shop 7,500.00 7,500.00 5 Zigs Fish Adventures 4,000.00 4,000,00 7 Subtotals 750,000.00 290,000.00 120,000.00 40,000.00 20,000.00 80,000.00 1,300,000.00 5,000.00 1 Adams Sports & Flies 5,000.00 9 Blue Dun Flies 4,900.00 ID Cicada Fish Co 8,400,00 11 Deschutes Sports 7,000.00 17 Green River Sports 3,500.00 13 Smith River Co. 2,400.00 14 Western Trout Company 6,800.00 15 Wolfe Sports 4,400.00 4,400.00 16 Totals $1,342,400.00 754,400.00 Previous Check My Work Email Instructor Save and Edt Submit Assignme W N G P A 19 Aging of Receivables Schedule Shadod ce 4 Brown Trout Fly Shop 7,500.00 7,500.00 5 6 Zigs Fish Adventures 4,000.00 4,000.00 7 Subtotals 1,300,000.00 750,000.00 290,000.00 120,000.00 40,000.00 20,000.00 80,000.00 * Adams Sports & Fles 5,000.00 5,000.00 9 Blue Dun Flies 4,900.00 Cicada Fish Co. 8,400.00 11 7,000.00 Deschutes Sports Green River Sports 3,500.00 -13 Smith River Co. 2,400.00 16 6,800.00 Western Trout Company Wolfe Sports 15 4,400.00 4,400.00 754.400.00 16 Totals $1,342,400.00 Previo Check My Work Email Instructor Save and Exit Submit A A N w 19 Aging of Receivables Schedule Shaded cells ha Brown Trout Fly Shop 7,500.00 7,500.00 Zig Fish Adventures 4,000.00 4000.00 Subtotals 1,300,000.00 750,000.00 290,000.00 120,000.00 40,000.00 20,000.00 80,000.00 1 Adams Sports & Flies 5,000.00 5,000.00 9 Blue Dun Flies 4,900.00 10 Cicada Fish Co. 8,400.00 Deschutes Sports 7,000.00 12 Green River Sports 3,500.00 10 Smith River Co. 2,400.00 14 6,800.00 Western Trout Company Wolfe Sports 15 4400.00 4,400.00 Totals $1,342.400.00 754,400.00
