I need these answered by someone please. Brief Exercise 7-1 Accounting for Bad Debts Badger recorded $500,000 of net sales for the year of which 2% is estimated to be uncollectible. Identify and analyze the adjustment required at the end of the year to record bad debts. Brief Exercise 7-3 Accounting for Notes Receivable On November 1, 2012, Gopher received a $50,000, 6%, 90-day promissory note. Identify and analyze the adjustment required on December 31, the end of the company?s fiscal year. Exercise 9-2 Current Liabilities The following items represent liabilities on a firm?s balance sheet: a. An amount of money owed to a supplier based on the terms 2/20, n/40, for which no note was executed. b. An amount of money owed to a creditor on a note due April 30, 2013. c. An amount of money owed to a creditor on a note due August 15, 2014. d. An amount of money owed to employees for work performed during the last week in December. e. An amount of money owed to a bank for the use of borrowed funds due on March 1, 2013. f. An amount of money owed to a creditor as an annual installment payment on a ten-year note. g. An amount of money owed to the federal government based on the company?s annual income. Required 1. For each item, state whether it should be classified as a current liability on the December 31, 2012, balance sheet. Assume that the operating cycle is shorter than one year. If the item should not be classified as a current liability, indicate where on the balance sheet it should be presented. 2. For each item identified as a current liability in part (1), state the account title that is normally used to report the item on the balance sheet. 3. Why would an investor or a creditor be interested in whether an item is a current or a longterm liability? Exercise 9-5 Current Liabilities and Ratios Several accounts that appeared on Kruse?s 2012 balance sheet are as follows: Accounts Payable $ 55,000 Equipment $950,000 Marketable Securities 40,000 Taxes Payable 15,000 Accounts Receivable 180,000 Retained Earnings 250,000 Notes Payable, 12%, due in 60 days 20,000 Inventory 85,000 Capital Stock 1,150,000 Allowance for Doubtful Accounts 20,000 Salaries Payable 10,000 Land 600,000 Cash 15,000 Required 1. Prepare the Current Liabilities section of Kruse?s 2012 balance sheet. 2. Compute Kruse?s working capital. 3. Compute Kruse?s current ratio. What does this ratio indicate about Kruse?s condition?

Brief Exercise 7-1 Accounting for Bad Debts Badger recorded $500,000 of net sales for the year of which 2% is estimated to be uncollectible. Identify and analyze the adjustment required at the end of the year to record bad debts.Porter, Brief Exercise 7-3 Accounting for Notes Receivable On November 1, 2012, Gopher received a $50,000, 6%, 90-day promissory note. Identify and analyze the adjustment required on December 31, the end of the company's fiscal year. Exercise 9-2 Current Liabilities The following items represent liabilities on a firm's balance sheet: a. An amount of money owed to a supplier based on the terms 2/20, n/40, for which no note was executed. b. An amount of money owed to a creditor on a note due April 30, 2013. c. An amount of money owed to a creditor on a note due August 15, 2014. d. An amount of money owed to employees for work performed during the last week in December. e. An amount of money owed to a bank for the use of borrowed funds due on March 1, 2013. f. An amount of money owed to a creditor as an annual installment payment on a ten-year note. g. An amount of money owed to the federal government based on the company's annual income. Required 1. For each item, state whether it should be classified as a current liability on the December 31, 2012, balance sheet. Assume that the operating cycle is shorter than one year. If the item should not be classified as a current liability, indicate where on the balance sheet it should be presented. 2. For each item identified as a current liability in part (1), state the account title that is normally used to report the item on the balance sheet. 3. Why would an investor or a creditor be interested in whether an item is a current or a longterm liability? Exercise 9-5 Current Liabilities and Ratios Several accounts that appeared on Kruse's 2012 balance sheet are as follows: Accounts Payable $ 55,000 Equipment $950,000 Marketable Securities 40,000 Taxes Payable 15,000 Accounts Receivable 180,000 Retained Earnings 250,000 Notes Payable, 12%, due in 60 days 20,000 Inventory 85,000 Capital Stock 1,150,000 Allowance for Doubtful Accounts 20,000 Salaries Payable 10,000 Land 600,000 Cash 15,000 Required 1. Prepare the Current Liabilities section of Kruse's 2012 balance sheet. 2. Compute Kruse's working capital. 3. Compute Kruse's current ratio. What does this ratio indicate about Kruse's condition? Brief Exercise 12-3 Three Types of Activities For each of the following transactions on the statement of cash flows, indicate whether it would appearin the Operating Activities section (O), in the Investing Activities section (I), or in the Financing Activities section (F). Assume the use of the direct method in the Operating Activities section. _______ 1. Repayment of long-term debt _______ 2. Purchase of equipment _______ 3. Collection of customer's account _______ 4. Issuance of common stock _______ 5. Purchase of another company _______ 6. Payment of dividends _______ 7. Payment of income taxes _______ 8. Sale of equipment Brief Exercise 12-4 Direct versus Indirect Method For each of the following items, indicate whether it would appear on a statement of cash flows prepared using the direct method (D) or the indirect method (I). _______ 1. Net income _______ 2. Increase in accounts receivable _______ 3. Collections on accounts receivable _______ 4. Payments on accounts payable _______ 5. Decrease in accounts payable _______ 6. Depreciation expense _______ 7. Gain on early retirement of bonds _______ 8. Cash sales Brief Exercise 12-5 Direct Method Fill in the blank for each of the following situations. Balance Sheet Beginning Ending Income Statement Cash Inflow (Outflow) 1. Accounts receivable $2,000 $5,000 Sales on account, $15,000 $________ 2. Prepaid insurance $4,000 $3,000 Insurance expense, $7,000 $________ 3. Income taxes payable $6,000 $9,000 Income tax expense, $20,000 $________ 4. Wages payable $5,000 $3,000 Wages expense, $25,000 $________ Brief Exercise 12-6 Indirect Method For each of the following items, indicate whether it would be added to (A) or deducted from (D) net income to arrive at net cash flow provided by operating activities under the indirect method. _______ 1. Increase in accounts receivable _______ 2. Decrease in prepaid rent _______ 3. Decrease in inventory _______ 4. Decrease in accounts payable _______ 5. Increase in income taxes payable _______ 6. Depreciation expense _______ 7. Gain on sale of equipment _______ 8. Loss on early retirement of bonds Other information is as follows: a. Dividends of $60,000 were declared and paid during the year. b. Operating expenses include $50,000 of depreciation. c. Land and plant and equipment were acquired for cash, and additional stock was issued for cash. Cash also was received from additional bank loans. Problem 12-4 Statement of Cash FlowsIndirect Method Refer to all of the facts in Problem 12-3. Required 1. Prepare a statement of cash flows for 2012 using the indirect method in the Operating Activities section. 2. On the basis of your statement in part (1), draft a brief memo to the president to explain why cash decreased during such a profitable year. Include in your explanation any recommendations for improving the company's cash flow in future years. Brief Exercise 12-3 Three Types of Activities For each of the following transactions on the statement of cash flows, indicate whether it would appearin the Operating Activities section (O), in the Investing Activities section (I), or in the Financing Activities section (F). Assume the use of the direct method in the Operating Activities section. _______ 1. Repayment of long-term debt _______ 2. Purchase of equipment _______ 3. Collection of customer's account _______ 4. Issuance of common stock _______ 5. Purchase of another company _______ 6. Payment of dividends _______ 7. Payment of income taxes _______ 8. Sale of equipment Brief Exercise 12-4 Direct versus Indirect Method For each of the following items, indicate whether it would appear on a statement of cash flows prepared using the direct method (D) or the indirect method (I). _______ 1. Net income _______ 2. Increase in accounts receivable _______ 3. Collections on accounts receivable _______ 4. Payments on accounts payable _______ 5. Decrease in accounts payable _______ 6. Depreciation expense _______ 7. Gain on early retirement of bonds _______ 8. Cash sales Brief Exercise 12-5 Direct Method Fill in the blank for each of the following situations. Balance Sheet Beginning Ending Income Statement Cash Inflow (Outflow) 1. Accounts receivable $2,000 $5,000 Sales on account, $15,000 $________ 2. Prepaid insurance $4,000 $3,000 Insurance expense, $7,000 $________ 3. Income taxes payable $6,000 $9,000 Income tax expense, $20,000 $________ 4. Wages payable $5,000 $3,000 Wages expense, $25,000 $________ Brief Exercise 12-6 Indirect Method For each of the following items, indicate whether it would be added to (A) or deducted from (D) net income to arrive at net cash flow provided by operating activities under the indirect method. _______ 1. Increase in accounts receivable _______ 2. Decrease in prepaid rent _______ 3. Decrease in inventory _______ 4. Decrease in accounts payable _______ 5. Increase in income taxes payable _______ 6. Depreciation expense _______ 7. Gain on sale of equipment _______ 8. Loss on early retirement of bonds Other information is as follows: a. Dividends of $60,000 were declared and paid during the year. b. Operating expenses include $50,000 of depreciation. c. Land and plant and equipment were acquired for cash, and additional stock was issued for cash. Cash also was received from additional bank loans. Problem 12-4 Statement of Cash FlowsIndirect Method Refer to all of the facts in Problem 12-3. Required 1. Prepare a statement of cash flows for 2012 using the indirect method in the Operating Activities section. 2. On the basis of your statement in part (1), draft a brief memo to the president to explain why cash decreased during such a profitable year. Include in your explanation any recommendations for improving the company's cash flow in future years