Shoe City Pty Ltd's bank reconciliation clerk is unable to reconcile the bank balance at 31 January. The balance of the cash at bank account, before any entries for transactions initiated by the bank, was $4,770.20 in the company records. The clerk's attempt at the bank reconciliation statement is as follows. Cash balance as per bank statement $4,392.20 Add: Dishonoured cheque 516.00 Less: Bank charges 30.00 Less: Outstanding deposits 708.00 Add: Unpresented cheques 876.00 Cash balance as per company records $5,046.20 (a) Prepare a correct bank reconciliation. Add: Less: Shoe City Pty Ltd tA $ $ LA Marc Pty Ltd has accounts receivable of $92,500 at 31 March 2016. An analysis of the accounts shows the following amounts. Balance, 31 March Month of sale 2016 2015 March $65,000 $75,000 February 12,600 8,000 December and January 8,500 2,400 November and October 6,400 1,100 $92,500 $86,500 Credit terms are 2/7, n/30. At 31 March 2016 there is a $1,600 credit balance in allowance for doubtful debts before adjustment. The entity uses the ageing of accounts receivable basis for estimating uncollectable accounts. Marc Pty Ltd's estimates of bad debts are as follows. Age of accounts Estimated percentage uncollectable Current 2.0% 1-30 days past due 5.0 31-90 days past due 30.0 Over 90 days 50.0 (a) Determine the total estimated uncollectables. $ Total estimated uncollectables The trial balance of Priority Paints at December 31, 2014, includes the following: Debits Credits Accounts Receivable $94,000 Allowance for Doubtful Accounts 500 Sales (all on credit) $94,500 (a) Present the journal entries specified below. Each item should be considered independently. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) A. If Priority Paints uses the aging method and estimates that $2,200 of receivables will be uncollectible, prepare the adjusting entry. B. If Priority Paints estimates uncollectibles at 2.2% of accounts receivable and the allowance account had a $500 credit balance instead of a $500 debit balance, prepare the appropriate adjusting entry. Assume that on February 3, 2015, the specific account of George Bush with a balance of $320 is deemed uncollectible. Record the write-off D. Assume that on May 4, 2015, George Bush pays the above balance in full. Record the appropriate entries. Date Account Titles and Explanation Debit Credit A. B. D. (To record writeoff of settlement) (To record cash receipt for balance settlement) J On 1 July 2014, Capers Ltd purchased equipment with cash for a total cost of $220,000 including 10% GST. The estimated useful life of the equipment was 10 years, with an estimated residual value of $15,000. The entity's reporting period ends on 30 June, and it use straight-line depreciation. On 1 July 2016, the entity revalued the equipment upwards by $17,000 to reflect the fair value. The revised useful life was 8 years and residual value was estimated at $10,000. On 1 January 2018, Capers Ltd revalued the equipment downwards by $20,000 to reflect the fair value. (a) Prepare the journal entries in relation to the equipment from the date of acquisition. (Enter debit entries first followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Capers Ltd General journal Credit Debit $ Date Account explanation $ 1/7/14 30/6/15 30/6/16 1/7/16 30/6/17 1/1/18 1/1/18 (To record equipment at carrying value before revaluation) (To record revaluation) (To record depreciation expense) (To record equipment at carrying value before revaluation) ||||| (a) Compute the depreciation expense under the Straight-line method for 2022, 2023, and 2024. (Round answers to O decimal places, eg 15250) Depreciation expense for: 2022-S 2023-$ 2024-S Linton Company purchased a delivery truck for $34,000 on July 1, 2022. The truck has an expected salvage value of $2,000, and is expected to be driven 100,000 milles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2022 and 12,000 in 2023. Linton uses the straight-line method of depreciation. Part 1 Compute depreciation expense for 2022 and 2023. Depreciation Expense 2022 Straight-line method $ $ 10 10 2023