Graded Assignment - 60 Points Final Project 2 Complete the following activities. Total score: ____ of 60 points (20 points)

1.

Part 1: Record Entries for Uncollectible Accounts 1. Journalize the following business transactions for Al-Can Products, Inc. a. Open the Final Project 2 Spreadsheet in the course. b. Save the file to your computer using the naming convention YourLastName - Final Project 2. c. Navigate to the appropriate spreadsheet tab for the journal in which you will post. d. Journalize the following transactions:

i. December 7. Wrote off Wilderness Park Accessories, Inc.'s past-due account as uncollectible. $247.60. M203. (Assignment 4.06 AND Lesson 4.01 - ACL - page 2) ii. December 17. Received cash in full payment of Wilderness Park Accessories, Inc.'s account, previously written as uncollectible, $247.60. M215 and R461. (Assignment 4.06 AND Lesson 4.01 - ACL - page 2) iii. December 23. Wrote off Bart's Landscaping's past-due account as uncollectible, $829.35. M229. (Assignment 4.06 AND Lesson 4.01 - ACL - page 2)

e. Save and close the spreadsheet or continue to Part 2.

(10 points)

Part 2: Calculating Depreciation and Book Value 2. Use the information in the plant asset record to calculate depreciation and book value. a. Navigate to the Plant Asset Record tab. b. Calculate the depreciation and ending book values in the appropriate cells. (Assignment 4.06 AND Lesson 4.03 - ACL - page 2) c. Save and close the spreadsheet or continue to Part 3.

(30 points)

Part 3: Merchandise Inventory

Accounting 2 | Graded Assignment | Final Project 2

2020 K12 Inc. All rights reserved. Page 2 of 2 Copying or distributing without K12's written consent is prohibited. 3. Use the information in the account records on the Inventory tab to calculate the total cost of ending inventory using the FIFO, LIFO, and Average Cost methods. a. Navigate to the Inventory tab. b. Calculate the total cost of ending inventory using the FIFO, LIFO, and Average Cost methods and record in the appropriate cell. (Assignment 5.04 AND Lesson 5.02 - ACL - page 3 & 4) c. Save and close the spreadsheet. d. Submit only the Final Project 2 Spreadsheet (Excel File) to your instructor for grading.

Scoring Guide Criteria Points Possibl e Points Earne d Part 1: Journalized transactions for uncollectible accounts accurately. 20 Part 2: Calculated depreciation and book value correctly. 10 Part 3: Calculated each inventory method and totals correctly. 30 Total Points 60