Please fill in the yellow cells and answer them completely. Thank you!
B56 x fx F G H 1 ACC 213 Assignment Lab #6 for Chapter 7 Name Instructions: Fill in the yellow cells, using formulas/cell references wherever possible 3 The terms are net 30 days. ... deb $700 credit 2200 2200 2800 1500 300 6500 5 Balance of NR on 12/31/2019 6 Balance of Allowance for Doubtful Accounts on 12/31/2019 BEFORE adjusting the books 7 A) Net Realizable Value of Accounts Receivable BEFORE adjusting the books 8 subsidiary ledger 9 A. Abel Flerman 10 balance 11 12/14/19 purchase 86001 18600 - 10/5/19 purchase 12 12/27/19 paid 1 2400 6200 11/20/19 purchase 12/20/19 purchase 14 B. Barber 15 Tance G. Gaylord 16 11/15/19 purchase 42001 4200 17 519 purchase 38001 3000 2719 purchase 11/227/19 purchase 19 c. Curran dr c balance 21 127219 purchase or 14500 H. Harris 23 D. Dapper 1517297101 purchase dr 3 001 900 500 2200 33001 3300 3/10/19 purchase r 2100 balance 1. Ireland 100 balance 3715419 purchase 91/19 | purchas 3. Jones 6000 11/22/19 purchase 273719 purchase 1000 001 10711719 purchase 11/28/19 purchase 1600 2600 LGH Company Accounts Receivable Aging Schedule 12/31/19 Number of Days Past D Total Balance 38 Customer $ 6,200 8.000 40 A Abel 41 B. Barber 42 C. Curran 43 D. Dapper 2,100 Sheet1 + Mac Tools Data Window Help ACC 213 Ch 7 template & instructions Data Review View Excel File Edit View Insert Format . AutoSaver S u = Home Insert Draw Page Layout Formulas Verdana 10 A A Paste B IU OA 045 x fx ' In lill General Conditional Formattin Formats Table 58 HI 1 s 58 HET II 38 Customer | 41 B. Barber SO 48 Ireland 49 ) Jones SO Total Acts Receivable IIIIII HT M 5155,400 Make sure that the total of the receive 54 DiCalculate the balance Required in the Allowance for Doublu 1988 IIIIIIIIIT IIILIT IIIIIIIIIII 12 T 57 Number of Days Past Due 3 C) Adjusting Entry T119 11 III TITUUT TIL PULL TIL 1 57 Prepare the required adjusting entry 58 per completing Part Asheve. Use formula references for the debit and credit mots Sheet1 + MacBook View Gene Insert Draw Page Layout Formulas Data Review Verdana 10 AAEE SEE BIU A x fx B C D G H 10/11/19 purchase 11/28/19 purchase Q45 1600 1000 LGH Company Accounts Receivable Aging Schedule 12/31/19 Number of Days Past Due Total Balance Current 1+ 370 371-60 61-90 38 Customer Over 90 40 A. Abel 41 B. Barber 42 C. Curran 43 D. Dapper 44 E. Elmore 45 F. Fierman 46 G. Gaylord 47 H. Harris 48 1. Ireland 49 J. Jones 50 Total Accts. Receivable $ 6,200 8,000 4,500 2,100 3,700 6,500 6,700 5,500 9,600 2,600 $ 55,400 Make on you B)Calculate the Balance Required in the Allowance for Doubful Accounts LGH uses the Aging of Receivables Method % Likely 57 Number of Days Past Due A/R Amount Uncollectible Required Allowance Balance 1% 1 - 30 31-60 61-90 Over 90 5% 10% 25% 40% Targeted bal the Allowand 65 C) Adjusting Entry Account Title(s) Prepare the required adjusting entry 68 after completing Part A above. Use formulas/cell references for the debit and credit amounts. Sheet1 Format Tools Excel File Edit O Autobave Home Insert Draw X Verdare View Insert BSU- Page Layout 10 Data Formulas - A A Data Window Help ACC 213 Ch 7 template & instructions Review View 12 General Conditional Forma 5 Formats Table 045 C) A usting Entry Prepare the required her completing Part A ting entry heef 68 74 D) After recording the adjusting entry, determine the following using calculations in Excel Balance of AR on 12/01/2018 before in the books Balance of Allance for Doubtful Accounts on 12/31/2019 AFTER ng boss Net R oof ACE ITE ding the books e off the D. Dapoer receivable 80 E) Write-off entry D. Dapper would not be able to pay the overdue amount owed. W A TECO e ncore Excel 90F) Aer recording the sing entry determine the following in calculation 91 Bencemeter te we e s Account 92 Balance of Alone for Doubtful Accounts medutely her the write- depper's AR Net R uble Value of Accounts Receivable AFTER adjusting the books Sheet1 + MacBook Tools Data Window Help ACC 213 Ch 7 Review View Excel File Edit View Insert Format O AutoSave OFF svo= Home Insert Draw Page Layout Formulas X Verdana 10 A BI UV Dra. Av Q45 x x Data X = = 2 General Paste * $ % , 58 1.30 31-60 61-90 Over 90 Targeted balance for 65 C) Adjusting Entry count TRIS) Debit 67 Prepare the required adjusting entry after completing Part A above. Use formulas/cell references for the debit and credit amounts. 74 D) After recording the adjusting entry, determine the following using calculations in Excel Balance of A/R on 12/31/2019 before adjusting the books Balance of Allowance for Doubtful Accounts on 12/31/2019 AFTER adjusting the books Net Realizable Value of Accounts Receivable AFTER adjusting the books E) Write-off entry: D. Dapper would not be able to pay the overdue amount owed. Write off the D. Dapper receivable. Account Titles) Debit Credit 83 Prepare the required journal entry to write off the D. Dapper Account Receivable. 85 Use formulas/cell references for debit and credit Amount Debt or Credit 90 F) After recording the adjusting entry, determine the following using calculations in Excel: 91 Balance of NVR immediately after the write-off of D. Dapper's Account Receivable. 92 Balance of Allowance for Doubtful Accounts Immediately after the write-off of D. dapper's AVR. Net Realizable Value of Accounts Receivable AFTER adjusting the books 100 101 Sheet1 ACC 213 Ch 7 template & instructions Formulas A a. Ar Data Review = = 2. EEE View General $ % Conditional Form Format as Table Cell Styles , Targeted balance for the Allowance account 40% at Title(s) the following-using calculations in Excel: sting the books on 12/31/2019 AFTER adjusting the books unts Receivable AFTER adjusting the books Amount Debit or Credit ? Use drop-down menu that will appear when you click on cell. o pay the overdue amount owed. Write off the D. Dapper receivable. Account Title(s) Debit Credit the following using calculations in Excel: pper's Account Receivable. ely after the write-off of D. dapper's N/R. le AFTER adjusting the books Amount Debit or Credit? Use drop-down menu that will appear when you click on cell
