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1、$100,0006%6,0002,500$J,5003,5007,1008,500Quest)on_Orie_(13.points)1.c4.d7.h10.e13.2.f5.g8.a11.k3.j6.c9.b12.hQuestion_Two[6points,_2pointseachentry)(a)(1)BadDebtExpense3,500AllowaneeforDoubtfulAccountsGrossreceivables$100,000Rate6%Totalallowaneeneeded6,000Presentallowance(2,500)Baddebtexpense$3.
2、500(2)BadDebtExpense7,100AllowaneeforDoubtfulAccountsSales$750,000Salesreturnsandallowances(40,000)Netsales710,000Rate1%Baddebtexpense$7.100(b)Thepercentageofreceivablesapproachwouldbeaffectedasfollows:GrossreceivablesRateTotalallowanceneededPresentallowanceAdditionalamountrequiredThejournalent
3、ryisthereforeasfollows:BadDebtExpenseAllowanceforDoubtfulAccountsQuestion_Three[9j)ointsL1jooint_each_entry)(a)AdiustingEntriesa.InsuraneeExpense2,000PrepaidInsuranee2,000b.BadDebtExpense2,800AllowaneeforDoubtfulAccounts2,800c.DepreciationExpense12,500AccumulatedDepreciation-F.&E12,500d.Interes
4、tReceivable420InterestRevenue420a.RentExpense1,000PrepaidRent1,000b.SalariesExpense5,800SalariesPayable5,800(a)ClosingEntriesSales280,000InterestRevenue420IncomeSummary280,420IncomeSummary197,900SalariesExpense55,800RentExpense13,800DepreciationExpense12,500BadDebtExpense2,800InsuraneeExpense2,
5、000CostofGoodsSold111,000IncomeSummary82,520RetainedEarnings82,520Questi^Fourjej^ointSi^point^eachjentryl(a)Cash736,000DuefromFactor(2%x$800,000)16,000LossonSaleofReceivables(6%x$800,000)48,000AccountsReceivable800,000(b)AccountsReceivable800,000DuetoDexter16,000FinancingRevenue48,000Cash736,00
6、0(c)Cash736,000DuefromFactor16,000LossonSaleofReceivables62,000AccountsReceivable800,000RecourseLiability14,000Question_Five[6points)DentCompanyDollar-ValueLIFOComputationsAtDecember31,2006,2007,and2008EndingInventoryatBase-YearPriceLayersatBase-YearPricesPriceIndexAt12/31,$252,000-1.05$180,000
7、X1.002006:=$240,000$60,000X1.05At12/31,$368,000-r1.15$180,000X1.002007:=$320,000$60,000X1.05$80,000X1.15At12/31,$387,500-1.25$180,000X1.002008:=$310,000$60,000X1.05$70,000X1.15EndingInventoryDollar・ValueLIFO$180,00063,000$243.000$
