PB9, LO 5.2 Assuming the following Adjusted Trial Balance, create the Post-Closing Trial Balance that would result after all closing journal entries were made and posted: Adjusted Trial Balance Debit Credit Cash $ 8,625 Accounts Receivable 11,600 Accounts Payable $ 8,450 Unearned Revenue 1,500 Common Stock 10,000 Retained Earnings 12,275 Dividends 2,000 Service Revenue 97,500 Advertising Expense 2,500 Rent Expense 18,000 Utilities Expense 12,000 Wages Expense 75,000 $129,725 $129,725

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3.  Determine the expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry).$fill in the blank c1967008e049075_1 4.  Assuming that instead of basing the provision for uncollectible accounts on an analysis of receivables, the adjusting entry on December 31 had been based on an estimated expense of ½ of 1% of the sales of $8,760,000 for the year, determine the following: a.  Bad debt expense for the year. b.  Balance in the allowance account after the adjustment of December 31. c.  Expected net realizable value of the accounts receivable as of December

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More info - X December 1 Ritchie sold 14 go-karts on account. The selling price of each go-kart was $1,900; the cost of goods sold for each was $400. December 5 Ritchie received notice of a class-action lawsuit being filed against it. The lawsuit claims that Ritchie's go-karts have engine defects that appear after the warranty period expires. The plaintiffs,want Ritchie to replace the defective engines and pay damages for the owners' losé of use. The cost of replacing the engines would be approximately $380,000 (not including any damages). Ritchie's attorney believes that it is reasonably possible that Ritchie will lose the case, but the attorney cannot provide a dollar estimate of the potential loss amount. December 20 Ritchie performed repairs due to product warranty complaints for two go-karts sold earlier in the year. Ritchie's cost of the repairs, paid in cash, was $850. December 22 An individual claims that he suffered emotional distress from a high-speed ride on a Ritchie…

m - Aug 28 X + nd.vst.idref%3DP7001016677000000000000000003B8F]!/4/2[P700101667700000000000... 2 ☆ S4-2 At December 31, 2020, before any year-end adjustments are made, White Corporation had a $50 balance in Accounts Receivable and a $0.6 debit balance in the Allowance for Uncollectible Accounts. Requirements O 1. What is the normal balance in the Allowance for Uncollectible Accounts? What would cause this account to have a debit balance? 2. How does management determine the amount of uncollectible accounts? 3. The aging of receivables indicates that White Corporation will not collect $1.5 million of its accounts receivables. Prepare the journal entry to record the bad debt expense for 2020. PUCE a 209

TB MC Qu. 6-34 (Algo) For Case (B) above, what is the...     Case (A)   Case (B)   Case (C) Beginning Balance (BB) $ 53,520     $ 32,100     $ 22,600   Ending Balance (EB)   ?       28,400       29,200   Transferred In (TI)   183,200       ?       87,100   Transferred Out (TO)   181,400       110,200       ?     For Case (B) above, what is the Transferred-In (TI)?   Multiple Choice A) $106,500. B) $49,700. C) $170,700. D) $113,900.

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