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BUS 591 Week 4 Homework Assignment

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Question;Complete the following Workbook Template Week Four or you may complete the problems P8-2B and P8-6B from Chapter 8 and Problems P9-2B and P9-7B from Chapter 9.BUS591 ? Financial Statement and AnalysisWeek 4 Homework Assignment TemplatesInstructions: Only enter data in the yellow boxes. The remaining areas are already completed for you. Save the file as follows: lastnamewk4.docxSubmit to the assignment box before the due date. (Late assignments will receive a late penalty).Problem 8-2B(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting). Date Account Titles and Explanation Debit Credit 1 2 3 4 5 (b) Enter the January 1, 2014 balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the transactions to the ledger T AccountsBe sure to post the amounts to the correct side of the T-Account!Accounts ReceivableBal. (2)(1) (3)(5) (4) (5)Bal.Allowance for Doubtful Accounts(4) Bal. (5) Bal.(c) Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000. Balance needed $ Balance before adjustment [see (b)] Adjustment required $ The journal entry would therefore be as follows:(d) Accounts Receivable Turnover Ratios:Enter your answer hereAverage Collection Period: Enter your answer hereProblem 8-6B (next page)(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting). Date Account Titles and Explanation Debit Credit 5 20 Feb 18 Apr 20 30 May 25 Aug 18 Sept. 1 Problem 9-2B(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting). If there are two entries for the same day, then you do not need to enter the date again.Date Account Titles and Explanation Debit CreditApril 1May 1 May 1 June 1 Sept 1 PART BDec 31 31 (c) Partial Balance SheetTONG CORPORATIONPartial Balance SheetDecember 31, 2014AssetsPlant assets Account title Amount Account title Amount Account title Amount Account title (or contra account) Amount Total plant assets AmountProblem 9-7B(a)BUS 1Year Computation Accumulated Depreciation Amount Amount AmountBUS 2Year Computation Accumulated Depreciation Amount Amount AmountBUS 3Year Computation Accumulated Depreciation Amount Amount Amount(b)BUS 2Year Depreciation Expense Amount Amount

 

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