Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please problem excel formulas for question 1-4 ions Set 20 Saved Help Save & Exit 39 A Xercise Cycles Company sells exercise equipment to gyms

please problem excel formulas for question 1-4 image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
ions Set 20 Saved Help Save & Exit 39 A Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected 3 Required: 4 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx). Number of Days Unpaid 197 Customer 8 Fitness Mania 9 Health for Life 10 Holistic Health Options 11 Image Reimaging 12 Today's Gym World 13 Whole Life Fitness Center 14 Workouts Unlimited 15 Total Amount 2,500 2,000 12,750 7,000 4,600 15,900 3,800 48,550 Invoice Date 6/17/2016 12/21/2016 10/12/2016 12/5/2016 11/29/2016 11/20/2016 10/2/2016 Today's Date 12/31/2016 12/31/2016|| 12/31/2016 12/31/2016 12/31/2016 12/31/2016 12/31/2016 Prev 1 of 3 Next > search 5 Total $ 48,550 7 2) Use the Information above to complete the Aging of Accounts Recelvable Schedule below. Create a formula for each age category, using the Excel IF and AND FUNCTIONS (fx) to determine where each customer amount belongs. 9 The IF statement may include the following arguments: , >, s Set 2 Saved Help Save & 30 Total Accounts Recelvable 31 Estimated Uncollectible( %) 32 Estimated Uncollectible ($) 10% 20% 40% 34 3) Prepare the adjusting Journal entry for recording bad debt expense If the Allowance for Doubtful Accounts 35 had the following unadjusted balance: 36 Allowance for Doubtful Accounts $250 credit balance 37 38 Bad Debt Expense 39 Allowance for Uncollectible Accounts 40 414) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts 42 had the following unadjusted balance: 43 Allowance for Doubtful Accounts $100 debit balance 44 45. Rad Debt. Evnence ... Sheet1 READY - 100% Attempt(s) Prev 1 of 3 !! Next > bet 2 i Saved Help Sa 24) Prepare the adjusting journal entry for recording bad debt expense of the Allowance for Doubtful Accounts 2 had the following unadjusted balance: 3 Allowance for Doubtful Accounts $100 debit balance 5 Bad Debt Expense 6 Allowance for Uncollectible Accounts Sheet1 READY + 1009 Attempt(s) Prev 1 of 3 !! Next > Ich

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

SAP Audit Black Book

Authors: Bhushan Jairamdas Mamtani

1st Edition

9351194086, 978-9351194088

More Books

Students also viewed these Accounting questions