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Question - 1 In the General Journal of Krywa TV Service, record the adjusting entries for the three - month period ending March 3 1
Question In the General Journal of Krywa TV Service, record the adjusting entries for the threemonth period ending March aOn January rent was paid in advance for six months at $ per month. The total paid $ was debited to Rent Prepaid. bA oneyear insurance policy was purchased on January $ and was charged to Insurance Prepaid. No monthly adjustments have been recorded. cOn January advertising costs were prepaid for six months, $ dSalaries owing to the employee but not yet paid on March $ eServices to customers who have paid in advance have been completed in March, $ fInterest accrued for three months on a bank loan, $ gAmortization on Tools & Equipment is to be calculated for three months on the book value of $ at an annual rate of Question Exercise Chapter Dominion Importing Co has the following list of accounts receivables on December The terms on all sales invoices are net days. Name of Customer Date on Invoice Amount Andosa, Conrad Jul. $ Bellini, Thomas Sept. Decker, Sylvia Dec. Evans, John Sept. Fu Jane Nov. Gignac, Arthur Oct. Leake, Mitch Oct. Moore, Stephen Aug. Orb, Chris Nov. Sigurdson, Rob Nov. Woo, Michael Dec. Other customers Dec. aPrepare a schedule of accounts receivable by age using the same headings as shown in Figure Each invoice is due days after the invoice date shown. Calculate the percentage that each category represents of the total accounts receivable. bUsing the following percentages for probable loss, compute the estimated loss from uncollectible accounts: Not yet due days past due days past due days past due Over days past due cRecord the General Journal entry for the estimated uncollectible receivables at yearend December
Question
In the General Journal of Krywa TV Service, record the adjusting entries for the threemonth period ending March
aOn January rent was paid in advance for six months at $ per month. The total paid $ was debited to Rent Prepaid.
bA oneyear insurance policy was purchased on January $ and was charged to Insurance Prepaid. No monthly adjustments have been recorded.
cOn January advertising costs were prepaid for six months, $
dSalaries owing to the employee but not yet paid on March $
eServices to customers who have paid in advance have been completed in March, $
fInterest accrued for three months on a bank loan, $
gAmortization on Tools & Equipment is to be calculated for three months on the book value of $ at an annual rate of
Question Exercise Chapter
Dominion Importing Co has the following list of accounts receivables on December The terms on all sales invoices are net days.
Name of Customer Date on Invoice Amount
Andosa, Conrad Jul. $
Bellini, Thomas Sept.
Decker, Sylvia Dec.
Evans, John Sept.
Fu Jane Nov.
Gignac, Arthur Oct.
Leake, Mitch Oct.
Moore, Stephen Aug.
Orb, Chris Nov.
Sigurdson, Rob Nov.
Woo, Michael Dec.
Other customers Dec.
aPrepare a schedule of accounts receivable by age using the same headings as shown in Figure Each invoice is due days after the invoice date shown. Calculate the percentage that each category represents of the total accounts receivable.
bUsing the following percentages for probable loss, compute the estimated loss from uncollectible accounts:
Not yet due
days past due
days past due
days past due
Over days past due
cRecord the General Journal entry for the estimated uncollectible receivables at yearend December
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