Question
Johnson ended the year with the unadjusted financial statements included for the following accounts Statement debt accounts Credit accounts Sales rate 80% 120000 Doubtful debts
Johnson ended the year with the unadjusted financial statements included for the following accounts Statement debt accounts Credit accounts Sales rate 80% 120000 Doubtful debts 1920 Cash
2150 Required: Calculate the expenses of unfulfilled expenses and enter them in the journal for the current year as follows: a. Regardless of the doubtful debt balance, the income statement from sales came to a total of 3%. B. Looking at the doubtful debts account, the value of estimates came to 3% of forward sales. c. Upon inventorying the fund, it was found that the actual balance was 2110. When reviewing the documents, it was found that there was a fuel bill of $30 that had not been recorded, and the rest of the deficit was considered the responsibility of the treasurer, which was deducted from his monthly salary.
Johnson ended the year with the unadjusted financial statements included for the following accounts debt accounts Statement Credit accounts 120000 1920 Sales rate 80% Doubtful debts Cash 2150 Required: Calculate the expenses of unfulfilled expenses and enter them in the journal for the current year as follows a. Regardless of the doubtful debt balance, the income statement from sales came to a total of 3%. B. Looking at the doubtful debts account the value of estimates came to 3% of forward sales. c. Upon inventorying the fund, it was found that the actual balance was 2110. When reviewing the documents, it was found that there was a fuel bill of $30 that had not been recorded, and the rest of the deficit was considered the responsibility of the treasurer, which was deducted from his monthly salary Johnson ended the year with the unadjusted financial statements included for the following accounts debt accounts Statement Credit accounts 120000 1920 Sales rate 80% Doubtful debts Cash 2150 Required: Calculate the expenses of unfulfilled expenses and enter them in the journal for the current year as follows a. Regardless of the doubtful debt balance, the income statement from sales came to a total of 3%. B. Looking at the doubtful debts account the value of estimates came to 3% of forward sales. c. Upon inventorying the fund, it was found that the actual balance was 2110. When reviewing the documents, it was found that there was a fuel bill of $30 that had not been recorded, and the rest of the deficit was considered the responsibility of the treasurer, which was deducted from his monthly salaryStep by Step Solution
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