3. Record the closing entry. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. × Answer is complete but not entirely correct. No Transaction 1 1 Service revenue Supplies expense Depreciation expense Insurance expense General Journal Wages expense Interest expense Income tax expense Remaining expenses (not detailed) Retained earnings Debit Credit 89,360 10,900 × 3,500 700 16,820 275 5,380 33,270 10,690 x [The following information applies to the questions displayed below.] Tunstall, Incorporated, a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December 31: Cash Accounts receivable Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Tunstall, Incorporated Unadjusted Trial Balance At December 31 Debit Credit 47,900 10,900 600 700 17,600 7,800 9,260 2,210 Accounts payable Wages payable Income taxes payable Notes payable (3 years; 10% interest due each September 30) Common stock (5,700 shares outstanding) 11,000 2,046 Additional paid-in capital 18,414 Retained earnings 5,600 Service revenue 89,360 Wages expense 16,200 Remaining expenses (not detailed; excludes income tax) 33,270 Income tax expense Totals 136,430 136,430 Data not yet recorded at December 31 included: a. The supplies count on December 31 reflected $210 in remaining supplies on hand to be used in the next year. b. Insurance expired during the current year, $700. c. Depreciation expense for the current year, $3,500. d. Wages earned by employees not yet paid on December 31, $620. e. Three months of interest expense (for the note payable borrowed on October 1 of the current year) was incurred in the current year. f. Income tax expense, $5,380.

Hh

Determine the net realizable value of accounts receivable on December 31, 2019.    Please show solutions along with the answers. Thank you!

Please help with the Solstice Company data. Thank you.

Analysis of accounts receivable reveals that with two exceptions, all appeared collectible as at December 31, 2021.  These are: b.) The company’s receivable from Redding Corporation in the amount of P58,000 was written off as uncollectible during the year based on the suggestion of the company’s legal counsel. However, on January 25, 2022, two months before the issuance of the audited financial statements, P8,000 was received as final settlement on  this account. Required: Adjusting entries

Compare Two Methods of Accounting for Uncollectible Receivables been obtained from the accounts: Required: Assemble the desired data. Enter a decrease in the amount of expense as a negative number and all other amounts as positive numbers. Call Systems Company Bad Debt Expense

Blackhorse Productions, Incorporated, used the aging of accounts receivable method to estimate that its Allowance for Doubtful Accounts should be $19,250. The account had an unadjusted credit balance of $12,000 at that time. Required: Prepare journal entries for each of the following. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. The appropriate bad debt adjustment was recorded. b. Later, an account receivable for $1,200 was determined to be uncollectible and was written off. View transaction list Journal entry worksheet く 1 2 Record the end-of-period adjustment for bad debts under the aging of accounts receivable method. Note: Enter debits before credits. Transaction General Journal Debit Credit

Blackhorse Productions, Incorporated, used the aging of accounts receivable method to estimate that its Allowance for Doubtful Accounts should be $19,350. The account had an unadjusted credit balance of $10,000 at that time. Required: Prepare journal entries for each of the following. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. The appropriate bad debt adjustment was recorded b. Later, an account receivable for $1000 was determined to be uncollectible and was written off. View transaction but Journal entry worksheet Record the end-of-period adjustment for bad debts under the aging of accounts receivable method. Note: Enter dets before creats. Transaction General Journal Debit Credit Cleary Resend untry

e. Assuming the company closes its books on December 31st, prepare the journal entries for 12/31/19 and 1/1/20. g. Assuming the error was discovered at the end of 2019 but before closing the books, prepare the necessary journal entry(ies) to correct the error.

Roe's Renovations utilizes the direct write-off method of accounting for uncollectible receivables. On September 15 the company is notified by the attorneys for Jacob Marley that Jacob Marley is bankrupt and no cash is expected in the liquidation. Write off the $4,900 of accounts receivable due from Jacob Marley. If an amount box does not require an entry, leave it blank.