(40 points) 1. Complete the following postings, calculations, and entries. a. Start Microsoft Excel and open...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
(40 points) 1. Complete the following postings, calculations, and entries. a. Start Microsoft Excel and open the BUS114_05_06.xlsx file from C:\ACTT2\Data\Unit_5. b. Click the File tab and click Save As. Save the file to C:\ACTT2\Student\Unit 5. c. Navigate to the Furry Pets Aging Report. d. Post the appropriate column totals from the top of the Furry Pets Aging Report to the green shaded boxes in the Summary below. (10 points) e. Post the total from the Estimated Uncollectible column to the Furry Pets Ledger by navigating to the Furry Pets Ledger tab. Navigate to the Kicks Depreciation Schedule. Review the Facts box at the top. Calculate the straight-line depreciation by filling in the green shaded areas, in the calculation boxes provided, with the appropriate data from the Facts box. Complete the Schedule of Depreciation by filling in the green shaded areas. f. g. h. i. Journalize the year one depreciation expense from the Kicks Depreciation Schedule by navigating to the Kicks Ledger tab. (10 points) 2. Calculate the gain or loss on the sale of a plant asset. a. Navigate to the House Foods tab. b. Calculate the carrying value of the asset in calculation box provided. Fill in the green shaded area with the appropriate data from the Facts box at the top. c. Calculate the gain or loss from the disposal of the asset in the calculation box provided. Fill in the green shaded area with the appropriate data from the Facts box at the top. 3. Journalize the gain or loss. a. Stay on the House Foods tab. b. Below the calculation boxes, post the entry to record the disposal of the asset in the House Foods Ledger. c. Save and close the spreadsheet. d. Submit your file to your instructor for grading. Customer Cat-Dog Groomers Feline Festivities Dog Yoga Total Past Due Furry Pets Accounts Receivable Aging Report 31-60 days 61-90 days over 90 days Current 1-30 days 31-60 days 61-90 days over 90 days $ 350.00 $ 200.00 $ 100.00 Aging Report Summary $ $ 550.00 $ 100.00 $ Total % Uncollectible Total Estimated Uncollectible 10% $ 20% $ 45% $ $ $ 350.00 $ 300.00 200.00 $ 300.00 $ 500.00 200.00 $ 300.00 $1,150.00 Total - Date Account Name Furry Pets Ledger 4/30/20xx Uncollectible Accounts Expense Allowance for Uncollectible Accounts To adjust the allowance for uncollectible accounts Debit Credit Furry Pets Aging Report Furry Pets Ledger Kicks Depreciation Schedule Kicks Ledger House Foods + Kicks Depreciation Calculation and Schedule Facts: Asset Cost = $75,000 Salvage Value = $10,000 Useful life = 5 years Straight Line, Annual Depreciation Calculation: Less Divide By Annual Depreciation Exp Furry Pets Aging Report $ #DIV/0! Schedule of Depreciation Book Value Year Beginning of Year 1 $ 75,000.00 2 3 4 5 Annual Depreciation Book Value End of Year $ 75,000.00 $ $ $ $ Furry Pets Ledger Kicks Depreciation Schedule Kicks Ledger House Foods > Date 12/31/20XX Kicks Ledger Account Name To account for delivery truck depreciation Debit Furry Pets Aging Report Furry Pets Ledger Kicks Depreciation Schedule Credit Kicks Ledger House Foods Facts: House Foods bought a packing machine for $250,000. Ten years later, the accumulated depreciation totaled $175,000. Ten years later plus a few days, the machine was sold for $80,000. Calculate the salvage value in the box below: $ Less $ Carrying Value $ LA LA Less Gain/(Loss) Calculate the gain or loss on the sale of the machine in the box below: $ Date LA GA $ $ House Foods House Foods Ledger Account Name Debit To Record Disposal of Packing Machine Credit (40 points) 1. Complete the following postings, calculations, and entries. a. Start Microsoft Excel and open the BUS114_05_06.xlsx file from C:\ACTT2\Data\Unit_5. b. Click the File tab and click Save As. Save the file to C:\ACTT2\Student\Unit 5. c. Navigate to the Furry Pets Aging Report. d. Post the appropriate column totals from the top of the Furry Pets Aging Report to the green shaded boxes in the Summary below. (10 points) e. Post the total from the Estimated Uncollectible column to the Furry Pets Ledger by navigating to the Furry Pets Ledger tab. Navigate to the Kicks Depreciation Schedule. Review the Facts box at the top. Calculate the straight-line depreciation by filling in the green shaded areas, in the calculation boxes provided, with the appropriate data from the Facts box. Complete the Schedule of Depreciation by filling in the green shaded areas. f. g. h. i. Journalize the year one depreciation expense from the Kicks Depreciation Schedule by navigating to the Kicks Ledger tab. (10 points) 2. Calculate the gain or loss on the sale of a plant asset. a. Navigate to the House Foods tab. b. Calculate the carrying value of the asset in calculation box provided. Fill in the green shaded area with the appropriate data from the Facts box at the top. c. Calculate the gain or loss from the disposal of the asset in the calculation box provided. Fill in the green shaded area with the appropriate data from the Facts box at the top. 3. Journalize the gain or loss. a. Stay on the House Foods tab. b. Below the calculation boxes, post the entry to record the disposal of the asset in the House Foods Ledger. c. Save and close the spreadsheet. d. Submit your file to your instructor for grading. Customer Cat-Dog Groomers Feline Festivities Dog Yoga Total Past Due Furry Pets Accounts Receivable Aging Report 31-60 days 61-90 days over 90 days Current 1-30 days 31-60 days 61-90 days over 90 days $ 350.00 $ 200.00 $ 100.00 Aging Report Summary $ $ 550.00 $ 100.00 $ Total % Uncollectible Total Estimated Uncollectible 10% $ 20% $ 45% $ $ $ 350.00 $ 300.00 200.00 $ 300.00 $ 500.00 200.00 $ 300.00 $1,150.00 Total - Date Account Name Furry Pets Ledger 4/30/20xx Uncollectible Accounts Expense Allowance for Uncollectible Accounts To adjust the allowance for uncollectible accounts Debit Credit Furry Pets Aging Report Furry Pets Ledger Kicks Depreciation Schedule Kicks Ledger House Foods + Kicks Depreciation Calculation and Schedule Facts: Asset Cost = $75,000 Salvage Value = $10,000 Useful life = 5 years Straight Line, Annual Depreciation Calculation: Less Divide By Annual Depreciation Exp Furry Pets Aging Report $ #DIV/0! Schedule of Depreciation Book Value Year Beginning of Year 1 $ 75,000.00 2 3 4 5 Annual Depreciation Book Value End of Year $ 75,000.00 $ $ $ $ Furry Pets Ledger Kicks Depreciation Schedule Kicks Ledger House Foods > Date 12/31/20XX Kicks Ledger Account Name To account for delivery truck depreciation Debit Furry Pets Aging Report Furry Pets Ledger Kicks Depreciation Schedule Credit Kicks Ledger House Foods Facts: House Foods bought a packing machine for $250,000. Ten years later, the accumulated depreciation totaled $175,000. Ten years later plus a few days, the machine was sold for $80,000. Calculate the salvage value in the box below: $ Less $ Carrying Value $ LA LA Less Gain/(Loss) Calculate the gain or loss on the sale of the machine in the box below: $ Date LA GA $ $ House Foods House Foods Ledger Account Name Debit To Record Disposal of Packing Machine Credit
Expert Answer:
Related Book For
Integrated Accounting
ISBN: 978-1285462721
8th edition
Authors: Dale A. Klooster, Warren Allen, Glenn Owen
Posted Date:
Students also viewed these accounting questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
-
Is the converse of the second part of Theorem 5.7 true? That is, if a function is one-to-one (and therefore has an inverse function), then must the function be strictly monotonic? If so, prove it. If...
-
Why is a bank loan a financial asset?
-
F(M): The average temperature (F) in Fahrenheit during month (M) of the year. Month (M) F(M) January 42 February 43 March 52 April 63 May 72 June 83 July 84 August 84 September 73 October 63 November...
-
What goals should be accomplished during a witness interview? What are the question-asking techniques you can use to accomplish these goals? Give an example of each.
-
Lewiss management has been considering moving to a new downtown location, and they are concerned that these plans may come to fruition prior to the expiration of the lease. If the move occurs, Lewis...
-
A ceramic manufacturer promised to deliver 25 crates of vases to a Japanese importer under a "CFR" INTERCOM agreement. During transit, however, a large number of vases were broken. The buyer wants to...
-
Pacific Cruise Lines is a defendant in litigation involving a swimming accident on one of its three cruise ships. Required: For each of the following scenarios, determine the appropriate way to...
-
(b) Into how many peaks will the signal for each of the Indicated protons be split in HNMA? Br -2
-
Rebe is looking over two sets of calculations done by a new employee. Set A presents the original cost of a vehicle to be $60,000 and the depreciable cost to be $30,000. Set B presents the...
-
Jill Johnson s dream was always to open her own pizza restaurant. Finally, she decided to take the plunge. She quit her job, and took $ 2 0 , 0 0 0 of her retirement savings to start her restaurant....
-
Reflect on Dr. Bridge's lecture, his passion to create good in the world, and story of the business he created in Haiti. What are you passionate about? What problems would you like to tackle? What...
-
1.Melissa works at Company Indo China Bakery. They have trouble following employer rules, often attend at work late and use unsafe practices. They also fail to cooperate with other staff. Would they...
-
Why would one employ the horizontal analysis if conducting a financial analysis in a compan?
-
Complete the following flow chart. Element Solution Nonuniform compositions Reset Nonelectrolyte More than one component Mixture Type here to search Small particles Uniform composition Heterogeneous...
-
d. The characteristic equation of a control system is given by s+2s+8s+12s+20s+16+16=0. Determine the number of the roots of the equation which lie on the imaginary axis of s-plane
-
1. What is the total amount of purchase orders shown on the purchases orders register for the month of March? 2. What is the total of the Invoice Amount column shown on the Purchase Invoice Register...
-
Write the answers to the following questions in the space provided. 1. What is the amount of check number 3838 shown on the general journal report? 2. What are the totals of the debit and credit...
-
November Payroll: Use the payroll file you saved under file name 07-A1 Your Name to answer the following questions for the November payroll. Employee List 1. What is the number of withholding...
-
The ends of a beam are elastically restrained by linear and torsional springs, as shown in Fig. 11.11. Using the finite difference method, express the boundary conditions. k W(x) k 00000 Deflected...
-
Find the natural frequencies of a fixed-fixed bar undergoing longitudinal vibration, using three mesh points in the range \(0
-
Using the fourth-order Runge-Kutta method, solve Problem 11.20. Data From Problem 11.20:- The equations of motion of a two-degree-of-freedom system are given by \(2 \ddot{x}_{1}+6 x_{1}-2 x_{2}=5\)...
Study smarter with the SolutionInn App