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Presented below is an aging schedule for bosworth company

11/11/2020 Client: arwaabdullah Deadline: 24 Hours

Problem 8-3A

http://edugen.wiley.com/edugen/shared/assignment/test/qprint.uni 1/2

No. Date Account Titles andExplanation Debit Credit

1.

2.

*Problem 8­3A Presented below is an aging schedule for Bosworth Company.

Customer Total Not Yet Due

Number of Days Past Due

1–30 31–60 61–90 Over90 Aneesh $ 29,100 $ 8,100 $21,000 Bird 49,900 $ 49,900 Cope 49,200 6,900 6,000 $36,300 DeSpears 39,200 $39,200 Others 151,600 85,000 43,200 23,400

$319,000 $141,800 $57,300 $44,400 $36,300 $39,200

Estimated percentage uncollectible 3% 6% 14% 25% 56%

Total estimated bad debts $ 44,935 $ 4,254 $3,438 $6,216 $ 9,075 $21,952

At December 31, 2013, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,300.

Journalize the adjusting entry for bad debts at December 31, 2013. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation Debit Credit

Post the adjusting entry for bad debts at December 31, 2013.

Bad Debts Expense

Allowance for Doubtful Accounts

Journalize the 2014 transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

1. March 1, a $810 customer balance originating in 2013 is judged uncollectible.

2. May 1, a check for $810 is received from the customer whose account was written off as uncollectibleon March 1.

Problem 8-3A

http://edugen.wiley.com/edugen/shared/assignment/test/qprint.uni 2/2

(To reinstate account previously written off)

Account Titles and Explanation Debit Credit

Question Attempts: 0 of 3 used

Post to the allowance account these 2014 events. (Post entries in the order of journal entries posted in the previous part.)

Allowance for Doubtful Accounts

2013 12/31 Bal. 8,300

12/31 36,635

12/31 Bal. 44,935

2014

Journalize the adjusting entry for bad debts at December 31, 2014, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $2,600 and the aging schedule indicates that total estimated bad debts will be $52,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Copyright © 2000­2016 by John Wiley & Sons, Inc. or related companies. All rights reserved.

1/3

Date Account Titles andExplanation Debit Credit

(To record depreciation on equipment sold)

*Problem 9­2A At December 31, 2014, Navaro Corporation reported the following plant assets.

Land $ 3,672,000 Buildings $34,420,000 Less: Accumulated depreciation— buildings 14,596,200 19,823,800

Equipment 48,960,000 Less: Accumulated depreciation— equipment 6,120,000 42,840,000

Total plant assets $66,335,800

During 2015, the following selected cash transactions occurred.

Apr. 1 Purchased land for $2,692,800. May 1 Sold equipment that cost $734,400 when purchased on January 1, 2008. The equipment

was sold for $208,080. June 1 Sold land for $1,958,400. The land cost $1,224,000. July 1 Purchased equipment for $1,346,400. Dec. 31 Retired equipment that cost $856,800 when purchased on December 31, 2005. No

salvage value was received.

Journalize the transactions. Navaro uses straight­line depreciation for buildings and equipment. The buildings are estimated to have a 40­year useful life and no salvage value; the equipment is estimated to have a 10­year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

5/15/2016 Problem 9-2A

http://edugen.wiley.com/edugen/shared/assignment/test/qprint.uni 2/3

(To record depreciation on equipment retired)

Date. Account Titles and Explanation Debit Credit

Dec. 31

(To record depreciation on buildings.)

31

Question Attempts: 0 of 3 used

Record adjusting entries for depreciation for 2015. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Prepare the plant assets section of Navaro’s balance sheet at December 31, 2015. (Hint: You may wish to set up T accounts, post beginning balances, and then post 2015 transactions.) (List Plant Assets in order of Land, Building and Equipment.)

NAVARO CORPORATION Partial Balance Sheet December 31, 2015

$

$

:

:

$

Problem 8-3A
Problem 9-2A

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