1. Provided $110,000 of services on account. 2. Collected $89,000 cash from accounts receivable. 3. Paid...

 

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1. Provided $110,000 of services on account. 2. Collected $89,000 cash from accounts receivable. 3. Paid $41,000 of salaries expense for the year. 4. Roth adjusted the accounts using the following information from an accounts receivable aging schedule: Number of Days Past Allowance Balance Percent Likely to Be Due Amount Uncollectible Current $9,500 0.01 0 to 30 4,000 0.05 31 to 60 2,500 0.10 61 to 90 2,000 0.30 Over 90 days 3,000 0.50 Required a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement for Roth Service Company for Year 1. c. What is the net realizable value of the accounts receivable at December 31, Year 1? Complete this question by entering your answers in the tabs below. Required A Required B Required C Organize the transaction data in accounts under an accounting equation. Note: Enter any decreases to account balances with a minus sign. Leave cells blank if no input is needed. ROTH SERVICE COMPANY Accounting Equation for Year 1 II Liabilities Stockholders' Equity Retained Earnings Accounts Titles for Re Earnings + = Assets = Event Cash + Net Realizable Value of Accounts Receivable 1. + + 2. + = + 3. + = + 4. + = + + == + Balance 1. Provided $110,000 of services on account. 2. Collected $89,000 cash from accounts receivable. 3. Paid $41,000 of salaries expense for the year. 4. Roth adjusted the accounts using the following information from an accounts receivable aging schedule: Number of Days Past Allowance Balance Percent Likely to Be Due Amount Uncollectible Current $9,500 0.01 0 to 30 4,000 0.05 31 to 60 2,500 0.10 61 to 90 2,000 0.30 Over 90 days 3,000 0.50 Required a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement for Roth Service Company for Year 1. c. What is the net realizable value of the accounts receivable at December 31, Year 1? Complete this question by entering your answers in the tabs below. Required A Required B Required C Organize the transaction data in accounts under an accounting equation. Note: Enter any decreases to account balances with a minus sign. Leave cells blank if no input is needed. ROTH SERVICE COMPANY Accounting Equation for Year 1 II Liabilities Stockholders' Equity Retained Earnings Accounts Titles for Re Earnings + = Assets = Event Cash + Net Realizable Value of Accounts Receivable 1. + + 2. + = + 3. + = + 4. + = + + == + Balance