please answer them all

Cash Sales BD525,500 BD620,500 Credit Sales In addition, its unadjusted trial balance includes the following balances. Accounts receivable BD237,500 debit BD2,600 credit Allowance for doubtful accounts An aging analysis estimates that 4% of the year-end accounts receivable are uncollectable. Required: A. Prepare the adjusting entry needed for Mars Company to recognize bad debts on December 31, 2019. (6 marks) B. Prepare an extract from the statement of financial position as at December 31, 2019 showing the effect of the preceding transaction. (6 marks) C. Using illustrative examples, briefly discuss whether Mars Company should consider adopting the direct write-off method of accounting for bad debts rather than the allowance method currently used. (4 marks) deposits makes all cash payments by check. At the close of business on September 30, 2020, its Cash account shows BD22,704 debit balance. Green Co's September 30 bank statement shows BD20,664 on deposit in the bank. The following information is also available: i. Outstanding checks as of September 30 total BD3,630 ii. The September 30 bank statement included a BD250 debit memorandum for bank services; Green Co has not yet recorded the cost of these services In reviewing the bank statement, a BD180 check written by Green Co was mistakenly recorded in the company's books at BD198 iii. iv. September 30 cash receipts of BD5,448 were placed in the bank's night depositary after banking hours and were not recorded on the September 30 bank statement V. The bank statement included a BD10 credit for interest earned on the cash in the bank Required: Make the necessary adjustments to the cash book balance and complete the bank reconciliation statement as at September 30, 2020. The following accounting information relates to Company A and Company B, competing in the same industry: Company A (BD'000) Company B (BD'000) 3,200 Cash 800 Short-term investments 0 1,100 Accounts receivable 0 800 Inventory 3,200 200 Accounts payable 1,200 1,160 Salaries payable 1,000 1,000 Required: A. Compute the current ratio and the quick ratio for the preceding separate companies. (Note: Round to one decimal, when needed) (10 marks) B. Which company is in the best position to meet short-term obligations? Explain. (4 marks) The following merchandising transactions relate to Sun Co: i. On October 1, Sun Co purchases merchandise for BD2,800 on credit with terms of 2/5, n/30, FOB shipping point; invoice dated October 1 On October 5, Sun Co pays cash for the October 1 purchase iii. On October 7, Sun Co discovers and returns BD200 of the defective merchandise purchased on October 1 for a cash refund iv. On October 13, Sun Co sells merchandise for BD3,000 on credit. The cost of merchandise is BD1,500 V. On October 16, a customer returns merchandise from the October 13 transaction. The returned items sell for BD400 and cost BD200 Required: Journalize the preceding merchandising transactions for Sun Co assuming it uses a perpetual inventory system. Jupiter Co began year 2020 with 6,300 units of product in its January 1 inventory costing BD35 each. It made successive purchases of its product in year 2020 as follows: Jan 4 May 18 Jul 10 10,500 units @ BD33 each 13,000 units @ BD32 each 12,000 units @ BD29 each 15,500 units @ BD26 each Nov 20 The company uses a periodic inventory system. On December 31, 2020, a physical count revealed that 16,500 units of its product remain in inventory. Required: Compute the amounts assigned to the 2020 ending inventory and the cost of goods sold using FIFO. QUESTION 6 (16 Marks) LO1, LO2 On January 1, 2018, Noah Co purchased an advanced equipment with an invoice cost of BD80,000. The electrical work required for installation costs BD6,000. Additional costs are BD1,000 for delivery and BD800 for testing. Noah Co estimates it will use this equipment for eight years and that the salvage value will be BD4,000. Required: A. Calculate the equipment's second-year deprecation and book value using the straight-line method. (8 marks) B. Briefly discuss the accounting implications if Noah Co adopts the double- declining balance depreciation method instead. (4 marks) C. Explain the reason why the equipment account is called permanent, while the depreciation expense account is called temporary, in the context of the closing process. (4 marks)