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f (1) Facebo X C Chegg Tut X Microsoft X C Discuss TI X M You have X Bb Computer X Microsoft X M Experts av X MyAssign X WileyPLUS X Course He X + C a edugen.wileyplus.com/edugen/Iti/main.uni TP Z Return to Blackboard WileyPLUS Assessment to accompany Hoggett, Financial Accounting, 10e Help | System Announcements CALCULATOR PRINTER VERSION 1 BACK NEXT ASSIGNMENT RESOURCES 1 . Collections on accounts receivable totalled $78,780. Main Assignment 2 . Consulting fees of $84,620 plus GST of 10% were receivable during the year. Clients are invoiced after services are provided and are given 30 days in which to pay. End of Chapter Problem 4.21 3 . Rent paid in advance was $15,060, plus GST. End of Chapter Problem 4 . Office supplies were purchased during the year for $360 plus GST in cash and $400 plus GST on credit. 5.28 Additional Exercise 12.3 5 . Tat withdrew $24,000 for private use. End of Chapter Problem Salary payments amounted to $30,660, of which $400 was for salaries accrued in the year ended 30 June 2019. 12.11 End of Chapter Problem NO Advertising totalling $3,230 plus GST was purchased on credit. 12.12 8 . Electricity expense of $3,460 plus GST was paid. End of Chapter Problem 14.15 9 . Accounts payable of $2,760 were paid. Additional Exercise 15.1 10 . GST payable of $8,760 less GST receivable of $2,300 were forwarded in cash during the year to the Australian Taxation Office. Additional Exercise 16.2 The following additional information should be considered for adjusting entries: End of Chapter Exercise 16.10 11. Unused office supplies on hand at the end of the year totalled $730. 12 . Depreciation on the furniture and equipment is $4,420. Review Score 13. Review Results by Study Salaries earned but not paid amount to $1,130. Objective 14. Rent paid in advance in transaction 3. Rent for 6 months of $7,530 plus GST was paid in advance on 1 August and 1 February. Payneham Professional Services al balance as at 30 June 2020 Account Account no. Debit Credit Cash at bank 1100 $14,210 Accounts receivable 1101 9,060 Prepaid rent 1102 1,255 GST receivable 1105 2,150 Office supplies 1106 1,270 Furniture and equipment 1110 27,570 Accumulated depreciation - furniture and equipment 1111 $9,330 Accounts payable 2200 5,220 Salaries payable 2201 40 GST payable 2203 4,920 Tat Chiang, capital 3000 35,645 $55,515 $55,515f (1) Facebo X C Chegg Tut X Microsoft X C Discuss TI X M You have X Bb Computer X Microsoft X M Experts av X o MyAssign X WileyPLUS X Course He X + C a edugen.wileyplus.com/edugen/Iti/main.uni Tp Z Return to Blackboard WileyPLUS Assessment to accompany Hoggett, Financial Accounting, 10e Help | System Announcements CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Main Assignment Additional Exercise 12.3 End of Chapter Problem Information related to DeJong Company for 2019 is summarised below. 4.21 End of Chapter Problem Total credit sales $1,640,000 5.28 Additional Exercise 12.3 Accounts receivable as at 30 June 620,000 End of Chapter Problem Doubtful debts written off 26,000 12.11 End of Chapter Problem 12.12 Required End of Chapter Problem 14.15 (a) What amount of doubtful debts expense will DeJong Company report if it uses the direct write-off method of accounting for doubtful debts? Additional Exercise 15.1 Additional Exercise 16.2 End of Chapter Exercise $ 16.10 (b) Assume that DeJong Company decides to estimate its doubtful debts expense to be 2% of credit sales. What amount of doubtful debts expense will DeJong record if Allowance for doubtful debts Review Score has a credit balance of $3,000? Review Results by Study Objective (c) Assume that DeJong Company decides to estimate its doubtful debts expense based on 5% of accounts receivable. What amount of doubtful debts expense will DeJong Company record if Allowance for doubtful debts has a credit balance of $4,000? (d) Assume the same facts as in (c), except that there is a $2,000 debit balance in Allowance for doubtful debts. What amount of doubtful debts expense will DeJong record? $ Click if you would like to Show Work for this question: Open Show Work SHOW HINT Question Attempts: 0 of 1 used SAVE FOR LATER
