Please!!!! Need help ASAP for the answers to these questions!!!!!

A. Malcolm Redding owns Redding Construction Company. On March 20, the business received $5,500 from services completed that day and $1,200 for a job to be performed in April. 1. How much revenue should Redding Construction Company record on March 20? 86,700 2. What Generally accepted Accounting Principle is being followed by Redding Construction Company in recognizing revenue? Principle B. In July, Malcolm Redding ventures into a new industry and opens a restaurant called Redding Eatery. Malcolm must prepare separate financial statements for Redding Construction Company as well as Redding Eatery. This statement describes which Generally Accepted Accounting Principle? Scandinais Estely Panuteplanen C. Redding Eatery purchased the land on which its building is located during 2020 for $45,000. On December 31, 2021, the land has an appraised value of $52,000. 1. By what amount should the Land account be increased in 20212 22.00 2. What Generally Accepted Accounting Principle is being followed by Redding Eatery regarding the reporting of the Land? Question 2: On July 3, OK Appliances purchased $70,000 of merchandise to resell, terms 3/15, n/30, from Maytug Co. Assume that OK Appliances uses the perpetual inventory system a b What account is debited on July 3 when the merchandise is purchased? On July 9, OK Appliances returned $10,000 of the merchandise purchased. What account is debited on July 9 for the return? (2) How much does OK Appliances owe Maytug CO AFTER the return (what's the balance in the account payable to Maytug Co?) OK Appliances pays the balance due on July 17: how much is paid to Maytug Co? GO Question 3: Hilda Company reports the following information regarding merchandise inventory for March. Assume Hilda uses the periodic system and that 250 units of merchandise wer on hand on March 31. Were Date March 1 March 9 March 16 March 28 Explanation Inventory Purchase Purchase Purchase Units 200 300 400 100 Unit Cost $50 60 70 80 Total Cost $ 10,000 18,000 28,000 8,000 a What is the cost of goods available for sale for March? b How many units of inventory were available for sale during March? What is the cost of ending inventory under FIFO? d How much is cost of goods sold under LIFO? e If Hilda Company has sales of $80,000 in March and uses the weighted average method, how much is the gross profit for March? Show your calculations in the space below. Page 5 ACCT 201 Case Fall 2020 Question 4: Prepare the bank reconciliation at December 31, 2020, for Tent Pro Company using the information listed below. Be sure to include descriptions along with corresponding amounts in your bank reconciliation below. 1. Cash balance per bank, December 31, $11,852 2. Cash balance per books, December 31, $4,709 3. Deposits in transit at December 31, $1,409 4. A $2,300 note receivable was collected by the bank on December 31 plus $150 of interest. 5. Received an NSF check from Redhill Company (a customer) in December for $100 6. Outstanding checks at December 31, $8,022 7. The bank charged a fee for the month of December, $20 8 Check number 2006 was correctly paid in the amount of $2,000 but was incorrectly recorded by Tent Pro Company for $200. Tent Pro Company Bank Reconciliation December 31, 2020 Balonce per Books Balance per Bank Additions: Additions: Deductions: Deductions: Adjusted Cash Balance Adjusted Cash Balance Question 5: On November 30, Walker Agency has accounts receivable of $194,000 and a credit balance of $6,000 in Allowance for Doubtful Accounts. a. What is the cash (net) realizable value on November 307 b. On December 31, the accounts receivable balance is $500,000 and Allowance for Doubtfilccounts is $5,000. Walker uses the percentage of receivables method to determine uncollectible receivables. Management estimates that 2% of receivables will not be collected. For what amount would the adjustment be to record the estimate of uncollectible accounts? c. What would the balance in Allowance for Doubtful Accounts be after the above adjustment on December 317 d. What account would be debited to record the adjustment in part (b) above? e. During January of the following year, a customer's $7,000 account is written off. What account would be debited to record this transaction? f. What is cash (net) realizable value on January 31, 2021, after the write off? f. On what financial statement will each of the following be reported: (1) Bad Debt Expense (2) Allowance for Doubtful Accounts (3) Accounts Receivable A. Malcolm Redding owns Redding Construction Company. On March 20, the business received $5,500 from services completed that day and $1,200 for a job to be performed in April. 1. How much revenue should Redding Construction Company record on March 20? 86,700 2. What Generally accepted Accounting Principle is being followed by Redding Construction Company in recognizing revenue? Principle B. In July, Malcolm Redding ventures into a new industry and opens a restaurant called Redding Eatery. Malcolm must prepare separate financial statements for Redding Construction Company as well as Redding Eatery. This statement describes which Generally Accepted Accounting Principle? Scandinais Estely Panuteplanen C. Redding Eatery purchased the land on which its building is located during 2020 for $45,000. On December 31, 2021, the land has an appraised value of $52,000. 1. By what amount should the Land account be increased in 20212 22.00 2. What Generally Accepted Accounting Principle is being followed by Redding Eatery regarding the reporting of the Land? Question 2: On July 3, OK Appliances purchased $70,000 of merchandise to resell, terms 3/15, n/30, from Maytug Co. Assume that OK Appliances uses the perpetual inventory system a b What account is debited on July 3 when the merchandise is purchased? On July 9, OK Appliances returned $10,000 of the merchandise purchased. What account is debited on July 9 for the return? (2) How much does OK Appliances owe Maytug CO AFTER the return (what's the balance in the account payable to Maytug Co?) OK Appliances pays the balance due on July 17: how much is paid to Maytug Co? GO Question 3: Hilda Company reports the following information regarding merchandise inventory for March. Assume Hilda uses the periodic system and that 250 units of merchandise wer on hand on March 31. Were Date March 1 March 9 March 16 March 28 Explanation Inventory Purchase Purchase Purchase Units 200 300 400 100 Unit Cost $50 60 70 80 Total Cost $ 10,000 18,000 28,000 8,000 a What is the cost of goods available for sale for March? b How many units of inventory were available for sale during March? What is the cost of ending inventory under FIFO? d How much is cost of goods sold under LIFO? e If Hilda Company has sales of $80,000 in March and uses the weighted average method, how much is the gross profit for March? Show your calculations in the space below. Page 5 ACCT 201 Case Fall 2020 Question 4: Prepare the bank reconciliation at December 31, 2020, for Tent Pro Company using the information listed below. Be sure to include descriptions along with corresponding amounts in your bank reconciliation below. 1. Cash balance per bank, December 31, $11,852 2. Cash balance per books, December 31, $4,709 3. Deposits in transit at December 31, $1,409 4. A $2,300 note receivable was collected by the bank on December 31 plus $150 of interest. 5. Received an NSF check from Redhill Company (a customer) in December for $100 6. Outstanding checks at December 31, $8,022 7. The bank charged a fee for the month of December, $20 8 Check number 2006 was correctly paid in the amount of $2,000 but was incorrectly recorded by Tent Pro Company for $200. Tent Pro Company Bank Reconciliation December 31, 2020 Balonce per Books Balance per Bank Additions: Additions: Deductions: Deductions: Adjusted Cash Balance Adjusted Cash Balance Question 5: On November 30, Walker Agency has accounts receivable of $194,000 and a credit balance of $6,000 in Allowance for Doubtful Accounts. a. What is the cash (net) realizable value on November 307 b. On December 31, the accounts receivable balance is $500,000 and Allowance for Doubtfilccounts is $5,000. Walker uses the percentage of receivables method to determine uncollectible receivables. Management estimates that 2% of receivables will not be collected. For what amount would the adjustment be to record the estimate of uncollectible accounts? c. What would the balance in Allowance for Doubtful Accounts be after the above adjustment on December 317 d. What account would be debited to record the adjustment in part (b) above? e. During January of the following year, a customer's $7,000 account is written off. What account would be debited to record this transaction? f. What is cash (net) realizable value on January 31, 2021, after the write off? f. On what financial statement will each of the following be reported: (1) Bad Debt Expense (2) Allowance for Doubtful Accounts (3) Accounts Receivable