MAKE IT IN EXCEL FOR MY BETTER UNDERSTANDING !!

I NEED TO HAVE PERFECT ON THIS TASK PLEASE !!

IF YOU DONT KNOW HOW TO DO IT PLEASE LET OTHER TUTORS HELP ME CORRECTLY.

THANKS !!

Help 1: Reports with inventory posting

Exercise 1. FIFO, LIFO and weighted average.

1. Computadoras del Futuro made several purchases and sales in April. He had operating expenses of $ 1,500.

• Make three income statements: one using the FIFO method, another LIFO, and the other using the weighted average.
• Calculate the cost of goods sold using the periodic inventory model.

Date Detail Quantity Unit cost (unit cost)

April 1 Starting Inventory 8 $ 72

6 Sale 4$ 85 the sale

8 Buy 1184

13 Sale 5$ 95 the sale

15 Sale 3$ 95 the sale

19 Buy 20 109

21 Sale 8$115 the sale

22 Sale 2$ 115 the sale

27 Buy 10 90

30 Sale 6 $115 the sale

Exercise 2. Periodic inventory

Using the periodic inventory method, compute the cost of goods sold for the following exercise:

Date Detail Quantity Unit cost (unit cost)

May 1 Starting Inventory 12 $ 112

6 Sale 5

8 Buy 20 103

13 Sale 6

30 Sale 5

RUBRIC:

Exercise 1: Correctly MAKE an income statement using the FIFO method, demonstrating a thorough understanding of the required procedure.

A.Correctly MAKE an income statement using the LIFO method, demonstrating a thorough understanding of the required procedure.

Correctly prepares an income statement using the weighted average method, demonstrating a thorough understanding of the required procedure.

B.Correctly calculates the cost of goods sold using the periodic inventory model, demonstrating a thorough understanding of the required procedure.

Exercise 2:

Correctly computes the cost of goods sold using the periodic inventory method, demonstrating a thorough understanding of the required procedure.

Help 2: Accounts receivable

1.Define and explain short-term and long-term accounts receivable.

2.Equipos y Ms a is an electronic equipment company and had severalnotes receivable. Journalizes the entries of the following accounts receivable:

Date Transaction

February 10 A note payable for $ 150,000 was received with a 4% term and 60 days for payment.

March 12 A note payable for $ 185,000 was received with a 6% term and 120 days to pay.

April 3 Received $ 150,984 of the February 10 note payable.

May 16 A note payable of $ 125,000 was received with a 5% term and 40 days to pay.

June 2 Received $ 188,640.80 of the March 12 note payable.

October 11 A note payable of $ 210,000 was received with a term of 8% and 90 days for payment.

November 11 $ 214,126.08 was received from the October 11 account payable.

-RUBRIC:

1. Defines and correctly explains accounts receivable in the short and long term, demonstrating a thorough understanding of the required procedure.

2.Correctly JOURNALIZE accounts receivable entries, demonstrating a thorough understanding of the required procedure.

HELP 3: Bad debts

Perform the following exercises related to the different situations that exist with uncollectible accounts in a company. Evaluate the aging report.

Read the following scenario and make the accounts receivable cancellation entries:

PART 1.Computadoras y Ms, a computer systems sales company, decided to cancel the account receivable (write off) of its client Tech Master for the balance of $ 52,000.

Journalizethe write off setting the direct write-off method and the allowance method.

Perform the exercises in the following case paying attention to the instructions:

PART 2:Music Express is a company that sells both car and home stereos.

Jornalize transactions using the direct write off method.

Journalizes transactions using the allowance method assuming the account's credit balance started at $ 28,000 on February 1 and the company uses the accounts receivable method analysis.

Selected Transactions from Music Express Records as of December 31:

1.April 10th. Account canceled (wrote off account) of Mario Guzmn for $ 6,400. Journalizes transactions using the allowance method assuming the account's credit balance started at $ 28,000 on February 1 and the company uses the accounts receivable method analysis.

2.June 12. A partial payment of $ 1,500 was received from Margarita Rodrguez's account from a $ 10,000 credit account. The remainder of the balance is written off as uncollectible.

3.20th of August. The amount of $ 6,400 was received from Mario Guzmn from the account that was canceled on April 10. Reinstall the account and record the cash receipt.

4.December 31st. Write off the following accounts as uncollectible (make a wage entry):

Ricardo Vega $3,200

Mariela Gutirrez 2,440

Manuel Rosario 6,200

Jorge Camacho 1,800

Linda Ocasio 5,330

• If necessary, record year-end adjustment entries for bad debts.

PART 3: Make the aging schedule for the following accounts receivable:

Aging classification (number of days to expire) Account balance as of December 31st Estimate of the percentage of the account that is uncollectible

0-30 days $ 120,000 1%

31-60 days 80,100 2%

61-90 days 21,000 11%

91-120 days 9,000 23%

More than 120 days 15,300 65%

Total accounts receivable $ 245,400

RUBRIC:

Part 1:

Correctly JOURNALIZE the write-off input assuming the direct write-off method and the allowance method, demonstrating a thorough understanding of the required procedure.

Part 2:

Correctly JOURNALIZE transactions using the direct write off method, demonstrating a thorough understanding of the required procedure.

Correctly JOURNALIZE transactions using the allowance method and assuming that the company uses the accounts receivable method analysis, demonstrating a thorough understanding of the required procedure.

Part 3:

Correctly prepares the aging schedule for accounts receivable, demonstrating a thorough understanding of the required procedure.

MAKE IT IN EXCEL FOR MY BETTER UNDERSTANDING !!

I NEED TO HAVE PERFECT ON THIS TASK PLEASE !!

IF YOU DONT KNOW HOW TO DO IT PLEASE LET OTHER TUTORS HELP ME CORRECTLY.

THANKS !!