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Solve me the whole question for practice please. Question-2 5+5 (a) SA Company's accounts receivable subsidiary ledger reveals the following information. Buyer Accounts balance Invoice
Solve me the whole question for practice please.
Question-2 5+5 (a) SA Company's accounts receivable subsidiary ledger reveals the following information. Buyer Accounts balance Invoice amounts Dates December 31, 2019 Monnu Co $8795 3000 10.7.2019 5795 25.10.2019 Modina Co 5230 3230 20.9.2019 2000 20.8.2019 Redison Co 7650 5650 8.12.2019 2000 25.10.2019 Sage Inc 11285 4785 17.11.2019 6500 9.10.2019 Marks Inc. 7900 4500 12.12.2019 3400 2.11.2019 Oval Inc. 5350 5350 12.9.2019 SA Company's receivable collection experience indicates that losses have occurred as follows: Age of Accounts Uncollectible percentage 0-30 days .8% 31-60 days 1.5% 61-90 days 4.5% 91-120 days 10.5% 121 days and over 60.0% The allowance for doubtful accounts balance on December 31, 2019 was $5545 before adjustment. Required: i) Prepare an accounts receivable aging schedule. ii) Using the aging schedule compute the allowance for doubtful accounts balance as of December 31, 2019. iii) Prepare the end of year adjusting entry. (1) ABC Ltd pays the workers on hourly rate basis plus 2 times per hour of fixed hourly rate for works in excess of 40 hours per work. Following information are available from the office as to Payroll: Gross Earnings: Workers Hours Hour rate Medical Conveyance Dearness worked hour allowance allowance allowance 50 $50 50% $175 $150 20% 48 $60 50% $200 $180 20% 45 $70 50% $250 $200 20% D 40 $40 50% $150 $100 20% Rate per A B Deduction: Workers B D Provident fund 10% 10% 10% 10% Group insurance S90 $90 $90 $90 Benevolent fund 2.5% 2.5% 2.5% 2.5% Welfare association $40 $40 $40 $40 Required:Prepare Payroll sheet and payroll journalsStep by Step Solution
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