Nick has provided a detailed aging schedule of accounts receivable below. Based on past collections history,...
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Nick has provided a detailed aging schedule of accounts receivable below. Based on past collections history, management estimates the percentage uncollectible as follows: Number of days outstanding 0-30 31-60 61-90 91-120 over 120 Estimated percentage uncollectible 0.5% 2% 5% 10% 50% Required: Please see the requirements below the accounts receivable listing. Customer name Region Total 0-30 Days 31-60 Days 61-90 Days 91-120 days > 120 days 7,121.57 S 19,696.71 18,701.97 8,580.35 4,203.86 20,963.01 3,180.94 6,211,74 Dr. Roger Goyette Dr. Camila Schuppe Dr. Juanita Zboncak 7,121.57 14,069.08 S 18,701.97 8,580.35 Central South 5,627.63 Dr. Terence Smitham Dr. Carmella Lebsack Dr. Michaela Zulauf Central South South 1.050.97 S 2.101.93 S 1,050.97 YYC 20,963.01 Dr. Hillary Schuppe North 397.62 2,783.32 6,211.74 6,020.09 Dr. Isabella Stokes YEG Dr. Camylle Wuckert Dr. Molly Stracke Dr. Stacy Kuhlman St. Central 6,020.09 2,861.78 18,797.70 20,368. 12 20,452.36 8,440.11 7,576.29 13,000.84 12,003.00 South 2,861.78 South 18,797.70 Dr. Aubree Hermiston YYC 20,368. 12 7,669.63 Dr. Judy Ziemann Dr. Charley Wiklerman Dr. Cletus Bashirian Dr. Tyree Gorezany Dr. Dianna Mohr North 12,782.72 South Central South 8,440.11 5,251.29 13,000.84 2,325.00 12,003.00 4,375.23 YEG Dr. Mackenzie Koch YYC 4,375.23 21,876.13 12,509.34 3,404.36 10,521.92 18,716.63 7,322.24 8,271.29 5,812.80 16,432.68 13,125.68 12,509.34 3,404.36 10,521.92 Dr. Winona Doyle Dr. Bennett Beer IV Dr. Bennie Romaguera Dr. Deja Daniel Dr. Elvera Fisher Sr Dr. Noemie Prohaska YYC YEG South YYC 18,716.63 YYC 7,322 24 8,271.29 1,453.20 North Dr. Emely Aufderhar Dr. Fredrick Doyle North 4,359.60 11,182.68 YEG 5,250.00 Dr. Kin Hammes North 20.126.83 20,126.83 Dr. Maud Mayer South 13,059.81 7,823.48 13,059.81 Dr. Bell Grimes YEG 7,823.48 Dr. Bradly Monahan Dr. Roscoe Daugherty Dr. Haylee Mitchell YEG 21,318.94 33,067.50 17,055.15 17,317.50 4,263.79 YEG 15,750.00 YYC 12,014.70 11.673.60 9,408.23 12,014.70 Dr. Carrie Schiller North 11,673.60 Dr. Bertha Mayert Central 9.408.23 16,020.49 11,266.42 8,387.08 Dr. Alba Barton YEG South 16,020.49 11,266.42 Dr. Misty Ankunding Dr. Elaina Monahan South Dr. Sylvan Runolfsson Dr. Jonas Spinka Dr. Delphia Schultz Dr. Telly Pfeffer Dr. Lamar Mayer 8,387.08 20.818.92 12,356.97 14,376.95 Central 20,818.92 North 12,356.97 North 14,376.95 6,496.50 17,858.06 5,503.30 5,006.57 9,924.43 15,779.27 South 1,246.50 5,250.00 YEG North North North Central 17.858.06 Dr. Eve Dicki Dr. Florence Balistreri Dr. Alana Feeney Dr. Cheyenne Steuber Dr. Edison Bergstrom Dr. Herta Anderson Dr. Maci Weissnat 5,503.30 5,006.57 9,924.43 15,779.27 6,177.15 YYC Central YEG 6,177.15 10,173.78 10,173.78 7,794.23 7,794.23 4,457.13 Dr. Godfrey Lemke Dr. Karley Adams Dr. Meagan Deckow Dr. Earlene Considine YYC 5,571.42 5,336.24 1,114.28 5,336.24 21,275.12 North South 21,275.12 South 14,215.77 14,215.77 17,753.97 4,320.33 Dr. Alec Altenwerth South 21,000.00 38,753.97 21,120.33 Dr. Bret Nolan V North 16,800.00 4,303.26 10,569. 18 15,566.87 18,239.14 21,510.26 Dr. Talia Satterfield Dr. Caden Stokes YEG 4,303.26 North 10,569.18 Dr. Kylee Tillman Dr. Braeden Nikolaus 15,566.87 18,239.14 YEG YYC Dr. Toney Ullrich Total YEG 21,510.26 775,942.62 S 476,914.92 S 149,713.16 S 97,610.91 S 25,602.49 S 26,101.13 1. Determine the total estimated amount uncollectible (ending AFDA). % uncollectible Amount uncollectible TOTAL AFDA 2. Prepare the journal entry on December 31st to adjust the allowance for doubtful accounts to the appropriate ending balance. The allowance for doubtful accounts has an unadjusted credit balance of $4,500. Date Account Titles Debit Credit 3. Critical Thinking: How would the journal entry you've just ereated affect the accounts receivable turnover and average collection period that you calculated in Question 7? 4. Create a bar chart that shows accounts receivable by age. 4. Create a bar chart that shows accounts reccivable by age. What can you surmise from this bar chart? Comments: 5. Create a pie chart that shows customers accounts receivable by region. Sales occur in Alberta and management uses five regions - YEG, YCC, South, North and Central. What can you surmise from this pie chart? Comments: Nick has provided a detailed aging schedule of accounts receivable below. Based on past collections history, management estimates the percentage uncollectible as follows: Number of days outstanding 0-30 31-60 61-90 91-120 over 120 Estimated percentage uncollectible 0.5% 2% 5% 10% 50% Required: Please see the requirements below the accounts receivable listing. Customer name Region Total 0-30 Days 31-60 Days 61-90 Days 91-120 days > 120 days 7,121.57 S 19,696.71 18,701.97 8,580.35 4,203.86 20,963.01 3,180.94 6,211,74 Dr. Roger Goyette Dr. Camila Schuppe Dr. Juanita Zboncak 7,121.57 14,069.08 S 18,701.97 8,580.35 Central South 5,627.63 Dr. Terence Smitham Dr. Carmella Lebsack Dr. Michaela Zulauf Central South South 1.050.97 S 2.101.93 S 1,050.97 YYC 20,963.01 Dr. Hillary Schuppe North 397.62 2,783.32 6,211.74 6,020.09 Dr. Isabella Stokes YEG Dr. Camylle Wuckert Dr. Molly Stracke Dr. Stacy Kuhlman St. Central 6,020.09 2,861.78 18,797.70 20,368. 12 20,452.36 8,440.11 7,576.29 13,000.84 12,003.00 South 2,861.78 South 18,797.70 Dr. Aubree Hermiston YYC 20,368. 12 7,669.63 Dr. Judy Ziemann Dr. Charley Wiklerman Dr. Cletus Bashirian Dr. Tyree Gorezany Dr. Dianna Mohr North 12,782.72 South Central South 8,440.11 5,251.29 13,000.84 2,325.00 12,003.00 4,375.23 YEG Dr. Mackenzie Koch YYC 4,375.23 21,876.13 12,509.34 3,404.36 10,521.92 18,716.63 7,322.24 8,271.29 5,812.80 16,432.68 13,125.68 12,509.34 3,404.36 10,521.92 Dr. Winona Doyle Dr. Bennett Beer IV Dr. Bennie Romaguera Dr. Deja Daniel Dr. Elvera Fisher Sr Dr. Noemie Prohaska YYC YEG South YYC 18,716.63 YYC 7,322 24 8,271.29 1,453.20 North Dr. Emely Aufderhar Dr. Fredrick Doyle North 4,359.60 11,182.68 YEG 5,250.00 Dr. Kin Hammes North 20.126.83 20,126.83 Dr. Maud Mayer South 13,059.81 7,823.48 13,059.81 Dr. Bell Grimes YEG 7,823.48 Dr. Bradly Monahan Dr. Roscoe Daugherty Dr. Haylee Mitchell YEG 21,318.94 33,067.50 17,055.15 17,317.50 4,263.79 YEG 15,750.00 YYC 12,014.70 11.673.60 9,408.23 12,014.70 Dr. Carrie Schiller North 11,673.60 Dr. Bertha Mayert Central 9.408.23 16,020.49 11,266.42 8,387.08 Dr. Alba Barton YEG South 16,020.49 11,266.42 Dr. Misty Ankunding Dr. Elaina Monahan South Dr. Sylvan Runolfsson Dr. Jonas Spinka Dr. Delphia Schultz Dr. Telly Pfeffer Dr. Lamar Mayer 8,387.08 20.818.92 12,356.97 14,376.95 Central 20,818.92 North 12,356.97 North 14,376.95 6,496.50 17,858.06 5,503.30 5,006.57 9,924.43 15,779.27 South 1,246.50 5,250.00 YEG North North North Central 17.858.06 Dr. Eve Dicki Dr. Florence Balistreri Dr. Alana Feeney Dr. Cheyenne Steuber Dr. Edison Bergstrom Dr. Herta Anderson Dr. Maci Weissnat 5,503.30 5,006.57 9,924.43 15,779.27 6,177.15 YYC Central YEG 6,177.15 10,173.78 10,173.78 7,794.23 7,794.23 4,457.13 Dr. Godfrey Lemke Dr. Karley Adams Dr. Meagan Deckow Dr. Earlene Considine YYC 5,571.42 5,336.24 1,114.28 5,336.24 21,275.12 North South 21,275.12 South 14,215.77 14,215.77 17,753.97 4,320.33 Dr. Alec Altenwerth South 21,000.00 38,753.97 21,120.33 Dr. Bret Nolan V North 16,800.00 4,303.26 10,569. 18 15,566.87 18,239.14 21,510.26 Dr. Talia Satterfield Dr. Caden Stokes YEG 4,303.26 North 10,569.18 Dr. Kylee Tillman Dr. Braeden Nikolaus 15,566.87 18,239.14 YEG YYC Dr. Toney Ullrich Total YEG 21,510.26 775,942.62 S 476,914.92 S 149,713.16 S 97,610.91 S 25,602.49 S 26,101.13 1. Determine the total estimated amount uncollectible (ending AFDA). % uncollectible Amount uncollectible TOTAL AFDA 2. Prepare the journal entry on December 31st to adjust the allowance for doubtful accounts to the appropriate ending balance. The allowance for doubtful accounts has an unadjusted credit balance of $4,500. Date Account Titles Debit Credit 3. Critical Thinking: How would the journal entry you've just ereated affect the accounts receivable turnover and average collection period that you calculated in Question 7? 4. Create a bar chart that shows accounts receivable by age. 4. Create a bar chart that shows accounts reccivable by age. What can you surmise from this bar chart? Comments: 5. Create a pie chart that shows customers accounts receivable by region. Sales occur in Alberta and management uses five regions - YEG, YCC, South, North and Central. What can you surmise from this pie chart? Comments:
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Solution 1 Solution 4 Solution 5 figures in Customer name Region Total 030 Days 3160 Days 6190 Days ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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