Prepare a closing entries, post-closing trial balance and reversing entries, use your columnar paper to answer the assessment.

Adams Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31, 2019: Amount 10,000 Customer Billy Adams Stan Fry 8,000 Tammy Imes Shana Wagner 5,000 1,700 Total 24,700 a. Journalize the write-offs for 2019 under the direct write-off method. b. Journalize the write-offs for 2019 under the allowance method. Also, journalize the adjusting entry for uncollectible accounts. The company recorded $2,600,000 of credit sales during 2019. Based on past history and industry averages, 1.75% of credit sales are expected to be uncollectible. c. How much higher or lower would Adams Company's 2019 net income have been under the direct write-off method than under the allowance method? %24

The following is the pre-closing trial balance for Christina Rehabilitation Hospital as of September 30, 2020.  CHRISTINA REHABILITATION HOSPITAL Preclosing Trial Balance September 30, 2020 (000s omitted)     Debits   Credits   Cash and Cash Equivalents   $ 50,235             Accounts Receivable     61,880             Allowance for Uncollectible Receivables           $ 16,580     Inventory     8,440             Prepaid Expenses     6,640             Assets Limited as to Use—Investments     49,470             Investments     201,000             Pledges Receivable     3,850             Discount on Pledges Receivable             940     Land     7,610             Buildings     325,940             Accumulated Depreciation—Buildings             145,960     Equipment     262,160             Accumulated Depreciation—Equipment             119,540     Accounts Payable             20,760     Accrued Payables             26,820     Interest Payable…

SING THE FOLLOWING DATA, PREPARE THE APPROPRIATE CLOSING JOURNAL ENTRIES (R ---+- --T-- - ccounts payable 15 ---+- food inventory 30 ccounts receivable 87 --+-- - -+- bbq, withdrawals : 18 - -1 salaries expense 49 dining revenue 90 1- - - --- - accumulated depreciation -blg prepaid rent expense cost of sales 107 property taxes payable 一 building 60 pension obligation 27 catering income |44 transportation expense 9 70 +----+- - - unearned catering income 35 cash 'depreciation expense 2 bbq, capital --4-- - + 70 marketable securities : 40 delivery fees 20 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). TTTT Paragraph 3 (12pt) 1ミ、三 T - Arial ABC fx @ふ囲 困 田一 图图□0HTML CSS Mashups account title DR

Using the journal entries recorded for the previous worksheet, post the them on their respective general and subsidiary ledgers, and prepare the trial balance for March 2019.   Presented below are the transactions for Mariano Lerin Bookstore for March 2019.   Mar. 2  Purchased merchandise on credit from Digao Publishers, terms 2/10, n/30, P74,000.         3  Sold merchandise on credit to Detoya Book Shop, terms 1/10, n//30, P10,000.         5  Sold merchandise for cash, P7,000.         6  Purchased and received merchandise on credit from Made Easy Bookstore, terms 2/10, n/30, P42,000.         7  Received freight bill from Super Express from shipment received on March 6, P570.         9  Sold merchandise on credit to Recoletos Books, terms 1/10, n/30, P38,000.       10  Purchased merchandise from Digao Publishers, terms 2/10, n/30, P26,500.       11  Received freight bill from Super Express for sale on Mar. 9, P291.       12  Paid Digao Publishers for purchase of Mar. 2.       13…

Prepare the entries for transaction below and indicate what journal it is 21 august issued a $600 credit memo to ultracity co. For an allowance on good sold on august 19, 2020

company A issues an invoice upon selling its product to company bBelow is the information extracted from the invoiceprice : $ 100quantity: 50Term: n/3; 2/10date : 2022-oct-10 find the discount amount? and discount period?

Presented below are selected accounts for Splish Company as reported in the worksheet at the end of May 2020. Complete the worksheet by extending amounts reported in the adjusted trial balance to the appropriate columns in the worksheet. SPLISH CO. Worksheet For The Month Ended May 31, 2020 Adjusted Trial Accounts Balance Income Statement Dr. Cr. Dr. Cr. Cash 9,240 Inventory 87,710 Sales Revenue 405,800 Sales Returns and Allowances 9,380 Sales Discounts 5,150 Cost of Goods Sold 252,300

On June 7,2019, Dilby Mechanical Corp completed $50,00 of servicing work for a client and billed them for that amount plus a GST of $2,500 and PST of $3,50; terms are N20. Required: a. Prepare the journal entry as it would appear in Dilby's accounting records. b. Assume the receivable established on June 7 was collected on June 27. Record the entry.

Data for item nos. 16 and 17 The following accounts and their balances in an unadjusted trial balance of Record of Youth Company as of December 31, 2020: Cash and cash equivalents- P400,000; Trade and other receivable P2,000,000; Subscription receivable- P375,000; Inventory- P500,000; Trade and other payables- P670,000; Income tax payable- P196,500. Additional information are as follows: • Trade and other receivables include long term advances to company officers amounting to P430,000. • The subscription receivable has the following call dates: June 30, 2021, P200,000; December 31, 2021, P100,000; and June 30, 2022, P75,000. • Inventory of P500,000 was determined by physical count. At December 31, 2020, goods costing P125,000 are in transit from a supplier. Terms of purchase of said goods is FOB shipping point. The goods and the related invoice have not been received as of year-end. • Trade and other payables include dividends payable amounting to P170,000, of which P70,000 is payable…