ACCOUNTING PRINCIPLES-W/WILEYPLUS
14th Edition
ISBN: 9781119707158
Author: Weygandt
Publisher: WILEY
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Chapter 4, Problem 2BE
To determine
Introduction: A worksheet is a multiple-column form that is prepared by the companies at the end of an accounting year to use as a device in preparing the
To prepare: A partial worksheet.
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Students have asked these similar questions
The ledger of Cullumber Company includes the following unadjusted balances: Prepaid Insurance $4,300, Service Revenue $56,700,
and Salaries and Wages Expense $24,200. Adjusting entries are required for (a) expired insurance $1,600, (b) services performed
$1,900 are billed and not yet collected, and (c) accrued salaries payable $800.
Enter the unadjusted balances and adjustments into a worksheet and complete the worksheet for all accounts.
Trial Balance
Adjustments
Account Titles
Dr.
Cr.
Dr.
Prepaid Insurance
Service Revenue
Salaries and Wages Expense
Accounts Receivable
Salaries and Wages Payable
Insurance Expense
The ledger of Cullumber Company includes the following unadjusted balances: Prepaid Insurance $4,300, Service Revenue $56,700,
and Salaries and Wages Expense $24,200. Adjusting entries are required for (a) expired insurance $1,600, (b) services performed
$1,900 are billed and not yet collected, and (c) accrued salaries payable $800.
Enter the unadjusted balances and adjustments into a worksheet and complete the worksheet for all accounts.
Income Statement
Balance Sheet
Dr.
Cr.
Dr.
Cr.
58600
800
Required:
(a) What is the total estimated uncollectible amount of accounts receivable?
(b) Prepare journal entries to record impairment loss of receivable in 2021 using Statement of Financial Position approach.
(c) Prepare a partial statement of financial position as at 31 December 2021 on the accounts receivable.
(d) Prepare journal entries to record impairment loss of receivable in 2021 assuming the balance of the Allowance for Impairment account is $7.300 (Cr.) prior to adjustment.
Chapter 4 Solutions
ACCOUNTING PRINCIPLES-W/WILEYPLUS
Ch. 4 - Prob. 1QCh. 4 - 2. Explain the purpose of the worksheet.
Ch. 4 - 3. What is the relationship, if any, between the...Ch. 4 - Prob. 4QCh. 4 - Prob. 5QCh. 4 - Prob. 6QCh. 4 - Prob. 7QCh. 4 - Prob. 8QCh. 4 - 9. Which of the following accounts would not...Ch. 4 - 10. Distinguish between a reversing entry and an...
Ch. 4 - Prob. 11QCh. 4 - Prob. 12QCh. 4 - Prob. 13QCh. 4 - Prob. 14QCh. 4 - Prob. 15QCh. 4 - Prob. 16QCh. 4 - Prob. 17QCh. 4 - Prob. 18QCh. 4 - Prob. 20QCh. 4 - Prob. 21QCh. 4 - BE4-1 The steps in using a worksheet are presented...Ch. 4 - Prob. 2BECh. 4 - Prob. 3BECh. 4 - Prob. 4BECh. 4 - Prob. 5BECh. 4 - Prob. 6BECh. 4 - Prob. 7BECh. 4 - BE4-8 The steps in the accounting cycle are listed...Ch. 4 - Prob. 9BECh. 4 - Prob. 10BECh. 4 - Prob. 11BECh. 4 - Prob. 12BECh. 4 - Prob. 1DIECh. 4 - Prob. 2DIECh. 4 - DO IT! 4-3 Hanson Company has an inexperienced...Ch. 4 - Prob. 4DIECh. 4 - Prob. 1ECh. 4 - E4-2 The adjusted trial balance columns of the...Ch. 4 - E4-3 Worksheet data for Savaglia Company are...Ch. 4 - E4-4 Worksheet data for Savaglia Company are...Ch. 4 - Prob. 5ECh. 4 - Prob. 6ECh. 4 - Prob. 7ECh. 4 - Prob. 8ECh. 4 - Prob. 9ECh. 4 - E4-10 Renee Davis has prepared the following list...Ch. 4 - Prob. 11ECh. 4 - Prob. 12ECh. 4 - Prob. 13ECh. 4 - Prob. 14ECh. 4 - Prob. 15ECh. 4 - Prob. 16ECh. 4 - Prob. 17ECh. 4 - Prob. 18ECh. 4 - Prob. 19ECh. 4 - P4-1A The trial balance columns of the worksheet...Ch. 4 - P4-3A The completed financial statement columns of...Ch. 4 - P4-5A Anya Clark opened Anya’s Cleaning Service on...Ch. 4 - Prob. 7EYCTCh. 4 - Prob. 1ISTQCh. 4 - Prob. 2ISTQCh. 4 - Prob. 3ISTQCh. 4 - Prob. 4ISTQCh. 4 - Prob. 1IFRECh. 4 - Prob. 2IFRECh. 4 - Prob. 3IFRECh. 4 - Prob. 4IFRE
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