The attached questions are for basic accounting. All fill in the blank

The bank portion of the bank reconciliation for Rintala Company at November 30, 2014, was as follows. Rintala Company Bank Reconciliation November 30, 2014 Cash balance per bank $14,771.62 Add: Deposits in transit 2,530.20 Less: Outstanding checks 17,301.82 Check Number Check Amount 3451 $ 2,260.40 3470 720.10 3471 844.50 3472 1,426.80 3474 1,057.68 Adjusted cash balance per bank 6,309.48 $10,992.34 The adjusted cash balance per bank agreed with the cash balance per books at November 30. The December bank statement showed the following checks and deposits. Bank Statement Date 12-1 12-2 12-7 12-4 12-8 12-10 12-15 12-27 12-30 Checks Number 3451 3471 3472 3475 3476 3477 3479 3480 3482 Amount $2,260.40 844.50 1,426.80 1,640.70 1,300.00 2,130.00 3,080.00 600.00 475.50 12-29 3483 3485 Deposits Amount $ 2,530.20 1,211.60 2,365.10 2,672.70 2,945.00 2,567.30 2,836.00 1,025.00 18,152.90 1,140.00 12-31 Date 12-1 12-4 12-8 12-16 12-21 12-26 12-29 12-30 Total 530.80 Total $15,428.70 The cash records per books for December showed the following. Cash Payments Journal Amount Date Number $1,640.70 12-20 3482 1,300.00 12-22 3483 2,130.00 12-23 3484 621.30 12-24 3485 3,080.00 12-30 3486 Date 12-1 12-2 12-2 12-4 12-8 Number 3475 3476 3477 3478 3479 12-10 3480 600.00 12-17 3481 807.40 Total Amount $475.50 1,140.00 790.32 350.80 1,889.50 Cash Receipts Journal Date Amount 12-3 $ 1,211.60 12-7 2,365.10 12-15 2,672.70 12-20 2,954.00 12-25 2,567.30 $14,825.52 12-28 2,836.00 12-30 1,025.00 12-31 1,190.40 Total $16,822.10 The bank statement contained two memoranda: 1. A credit of $3,768.65 for the collection of a $3,623.65 note for Rintala Company plus interest of $160.00 and less a collection fee of $15.00. Rintala Company has not accrued any interest on the note. A debit of $580.48 for an NSF check written by D. Chagnon, a customer. At December 31, the check 2. had not been redeposited in the bank. At December 31, the cash balance per books was $12,988.92, and the cash balance per the bank statement was $20,683.99. The bank did not make any errors, but two errors were made by Rintala Company. (a) Using the four steps in the reconciliation procedure, prepare a bank reconciliation at December 31. (Reconcile the bank balance first and then the book balance.) RINTALA COMPANY Bank Reconciliation December 31, 2014 $ Add: Less: $ $ $ Add: Less: $ $ (b) Prepare the adjusting entries based on the reconciliation. (Hint: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date. Account Titles and Explanation Dec 31. (To record collection of note receivable by bank) (To record NSF Check) (To correct error in recording check) (To correct error in deposit) Debit Credit At December 31, 2014, the trial balance of Roberto Company contained the following amounts before adjustment. Debits Accounts Receivable Credits $390,600 Allowance for Doubtful Accounts $ 2,380 Sales Revenue 972,200 (a) Based on the information given, which method of accounting for bad debts is Roberto Company usingthe direct write-off method or the allowance method? (b) Prepare the adjusting entry at December 31, 2014, for bad debts expense under each of the following independent assumptions. (1) An aging schedule indicates that $17,890 of accounts receivable will be uncollectible. (2) The company estimates that 1% of sales will be uncollectible. (c) (d) (e) Repeat part (b) assuming that instead of a credit balance there is an $2,380 debit balance in Allowance for Doubtful Accounts. During the next month, January 2015, a $3,250 account receivable is written off as uncollectible. Prepare the journal entry to record the write-off. Repeat part (d) assuming that Roberto uses the direct write-off method instead of the allowance method in accounting for uncollectible accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No (b) (1) (2) (c) (1) Account Titles and Explanation Debit Credit (2) (d) (e) On January 1, 2014, Thao Company purchased the following two machines for use in its production process. Machine A: Machine B: The cash price of this machine was $37,100. Related expenditures included: sales tax $2,600, shipping costs $100, insurance during shipping $90, installation and testing costs $70, and $150 of oil and lubricants to be used with the machinery during its first year of operations. Thao estimates that the useful life of the machine is 5 years with a $5,100 salvage value remaining at the end of that time period. Assume that the straight-line method of depreciation is used. The recorded cost of this machine was $289,600. Thao estimates that the useful life of the machine is 4 years with a $18,100 salvage value remaining at the end of that time period. Prepare the following for Machine A. (Round answers to 0 decimal places, e.g. $2,125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1. The journal entry to record its purchase on January 1, 2014. 2. The journal entry to record annual depreciation at December 31, 2014. No Account Titles and . Explanation 1. 2. Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Calculate the amount of depreciation expense that Thao should record for Machine B each year of its useful life under the following assumptions. (Round answers to 0 decimal places, e.g. $2,125. Round cost per unit to 2 decimal place, e.g. 1.25.) (1) Thao uses the straight-line method of depreciation. (2) (3) Thao uses the declining-balance method. The rate used is twice the straight-line rate. Thao uses the units-of-activity method and estimates that the useful life of the machine is 143,230 units. Actual usage is as follows: 2014, 47,400 units; 2015, 40,170 units; 2016, 31,280 units; 2017, 24,380 units. 2014 Straight-line method Declining-balance method Units-of-activity method 2015 2016 2017 $ $ $ $ $ $ $ $ $ $ $ $ Click if you would like to Show Work for this question The following are selected transactions of Graves Company. Graves prepares financial statements quarterly. Jan. 2 Purchased merchandise on account from Ally Company, $32,925, terms 2/10, n/30. (Graves uses the perpetual inventory system.) Feb. 1 Issued a 6%, 2-month, $32,925 note to Ally in payment of account. Mar. 31 Accrued interest for 2 months on Ally note. Apr. 1 Paid face value and interest on Ally note. July 1 Purchased equipment from Clark Equipment paying $14,560 in cash and signing a 7%, 3-month, $42,280 note. Sept. 30 Accrued interest for 3 months on Clark note. Oct. 1 Paid face value and interest on Clark note. Dec. 1 Borrowed $13,500 from the Jonas Bank by issuing a 3-month, 6% note with a face value of $13,500. Dec. 31 Recognized interest expense for 1 month on Jonas Bank note. Prepare journal entries for the listed transactions and events. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Jan. 2 Feb. 1 Mar. 31 Apr. 1 July 1 Sept. 30 Account Titles and Explanation Debit Credit Oct. 1 Dec. 1 Dec. 31 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Post to the accounts Notes Payable, Interest Payable, and Interest Expense. (Post entries in the order of journal entries in the previous question.) Notes Payable Interest Payable Interest Expense SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Show the balance sheet presentation of notes and interest payable at December 31. Graves Company Balance Sheet December 31 $ $ SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO What is total interest expense for the year? Total interest $ Click if you would like to Show Work for this