25. Prepare the end-of-period adjusting entries for the current fiscal year for Newhouse Realty. Selected account balances before adiustment for Newhouse Realty at March 31, the end of the current fiscal year, are as follows: Debits Credits Accounts Receivable Equipment Accumulated Depreciation $ 80,000 150,000 $ 28,000 Prepaid Rent 6,000 Supplies Wages Payable $ 3,000 1200 Unearned Fees $ 10,500 410,000 Fees Earned Wages Expense 190,000 Rent Expense Depreciation Expense Supplies Expense Data needed for year-end adjustments are as follows: a. Unbilled fees at March 31, $13,500. b. Supplies on hand at March 31, $950. c. Rent expired, $4,000. d. Depreciation of equipment during year, $1,500. e. Unearned fees at March 31, $2,500. f. Wages accrued but not paid at March 31, $2,200.

Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $670,000; Allowance for Doubtful Accounts has a debit balance of $6,000; and sales for the year total $3,020,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $29,400. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable. %24 %24 %24 %24 %24

Give me answer

The following information is available for Monty's Best Corporation about the age of its receivables at December 31, its year end: Number of days outstanding Accounts Receivable Estimated percentage uncollectible (a) 0-30 $410,000 3% Total Estimated Uncollectible Accounts $ tA 31-60 $250,000 5% 61-90 $210,000 10% Over 90 $90,000 Using the above aging schedule, determine the total estimated uncollectible accounts. 15%

On July 1, Orcas Lab issued a $200,000, 7%, 8-month note. Interest is payable at maturity. What is the amount of interest expense that should be recorded in a year-end adjusting entry if the fiscal year-end is (a) December 31? (b) September 30?

Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $545,000; Allowance for Doubtful Accounts has a credit balance of $5,000; and sales for the year total $2,450,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $22,500. a.  Determine the amount of the adjusting entry for uncollectible accounts.$ b.  Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $ Allowance for Doubtful Accounts $ Bad Debt Expense $ c.  Determine the net realizable value of accounts receivable.$

Need correct answer for this question

Required: (a) Prepare journal entries to record the impairment loss of receivable in 2021 under Statement of Financial Position approach. (b) Prepare partial Statement of Financial Positions to show the accounts receivables at 31 December 2021.

Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $790,000; Allowance for Doubtful Accounts has a debit balance of $7,000; and sales for the year total $3,560,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $37,800. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable.