1. Using the quick tests for locating errors, find the error in each of the two questions below.Describe the type of error, explain how you discovered it, and make corrections.a)GENERAL JOURNALPARTICULARSDEBIT6 0 0031 ol ol ol -CREDITBankEquipmentСapital90 0 0Supplies10 0Accounts Payable10 025oExpenseBank250Accounts Receivable16 8 -Revenue16 8Bank50Accounts Receivable50DrawingsBankBankAccounts ReceivableSupplies6 000 -25016850-10050726 050-122-1185 728Equipment3 000Accounts PayableCapital100 –9 000DrawingsRevenueExperse72 -168 -205

Ledgers - After recording transactions in the journal next step is to transfer them into ledgers.…

1. Using the quick tests for locating errors, find the error in each of the two questions below. Describe the type of error, explain how you discovered it, and make corrections. a) GENERAL JOURNAL PARTICULARS DEBIT CREDIT Bank Equipment 30oo - Capital 1o0 - Supplies Accounts Payable 250- Expense Bank 250 Accounts Receivable Revenue Bank Accounts Recelvable Drawings Bank Bank 6 000 - 50 Accounts Receivable 168 - Supplies 100- 250 s0 72 322 6050 118 5 728 Equipment Accounts Payabke Captal 3 000 9 000 - 100 Expense 205 Drawings Reveme 72 168

1. Using the quick tests for locating errors, find the error in each of the two questions below. Describe the type of error, explain how you discovered it, and make corrections. a) GENERAL JOURNAL PARTICULARS DEBIT CREDIT Bank Equipment 30oo - Capital 1o0 - Supplies Accounts Payable 250- Expense Bank 250 Accounts Receivable Revenue Bank Accounts Recelvable Drawings Bank Bank 6 000 - 50 Accounts Receivable 168 - Supplies 100- 250 s0 72 322 6050 118 5 728 Equipment Accounts Payabke Captal 3 000 9 000 - 100 Expense 205 Drawings Reveme 72 168

Pkg Acc Infor Systems MS VISIO CD

10th Edition

ISBN:9781133935940

Author:Ulric J. Gelinas

Publisher:Ulric J. Gelinas

Chapter11: The Billing/accounts Receivable/cash receipts (b/ar/cr) Process

Section: Chapter Questions

Problem 4DQ

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F SUM of Outstanding balance Status Customer C1003 C1004 C1006 C1010 C1012 C1013 C1026 C1028 C1029 C1036 C1037 C1045 C1048 C1051 G C1055 C1057 C1058 C1061 C1066 C1069 C1075 C1076 C1082 C1085 Grand Total H 0-Not Yet Due 30831 30831 I 1-30 Days 25579 3156 2353 31088 J 11791 26748 31-60 Days 61-90 Days 90+ Days 9367 10460 29297 K 25315 103611 25245 24713 L 49958 4115 1659 18793 12116 22957 20307 7791 30907 12102 12235 22997 25366 200712 M Grand Total 9367 25245 30831 24713 11791 26748 4115 1659 18793 10460 12116 22957 20307 25579 7791 3156 30907 12102 12235 2353 22997 29297 25366 25315 416200 N
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Why did you select those customer accounts? also how to use a cell reference to enterthe answer for the 1st question? ( Whatis the dollar amount of total receivables? Use a cell reference to input your answer)
Shttps://anu.instructure.comytourses/7789/quires/34131/take Question 7 Sps What is the impact on the accounting equatioon when an accunts receivable is collected? both sides increase both sides decrease only the Asset side changes the total of neither side changes Question 8 Spts
2) Use the information above to complete the Aging of Accounts Receivable Schedule below. Create a formula for cach age category, using the Excel IF and AND FUNCTIONS (fx) to determine wh customer amount belongs. The IF statement may include the following arguments: ,>=, <=, Excel AND FUNCTION (fx).
A6 What are the advantages and disadvantages of using the following Allowance for Expected Credit Losses (AECL) estimates? 1) AECL based of 3rd party credit ratings and Aging of accounts receivab 2) AECL based on Customer Response Score (CR 3) AECL based on write-off history and regionS)le
Morgan had net sales of $1,041,105 and average accounts receivable of $157,000. Its competitor, Stanley, had net sales of $1,090,600 and average accounts receivable of $142,100. (a) Calculate the accounts receivable turnover for both companies. (b) Which company is doing a better job of managing its accounts receivables? Complete this question by entering your answers in the tabs below. Required A Required B Compute accounts receivable turnover for both companies. Morgan Stanley Choose Numerator: 1 1 1 Accounts Receivable Turnover Choose Denominator: = = Accounts Receivable Turnover Accounts receivable turnover times times