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Complete the following Workbook Template Week Four or you may complete the problems P8-2B and P8-6B from Chapter 8 and Problems P9-2B and P9-7B from Chapter 9. BUS591 – Financial Statement and Analysis Week 4 Homework Assignment Templates Instructions: Only enter data in the yellow boxes. The remaining areas are already completed for you. Save the file as follows: lastnamewk4.docx Submit to the assignment box before the due date. (Late assignments will receive a late penalty). Problem 8-2B (a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting). Date Account Titles and Explanation Debit Credit 1 2 3 4 5 (b) Enter the January 1, 2014 balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the transactions to the ledger T Accounts Be sure to post the amounts to the correct side of the T-Account! Accounts Receivable Bal. (2) (1) (3) (5) (4) (5) Bal. Allowance for Doubtful Accounts (4) Bal. (5) Bal. (c) Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000. Balance needed $ Balance before adjustment [see (b)] Adjustment required $ The journal entry would therefore be as follows: (d) Accounts Receivable Turnover Ratios: Enter your answer here Average Collection Period: Enter your answer here Problem 8-6B (next page) (a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting). Date Account Titles and Explanation Debit Credit 5 20 Feb 18 Apr 20 30 May 25 Aug 18 Sept. 1 Problem 9-2B (a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting). If there are two entries for the same day, then you do not need to enter the date again. Date Account Titles and Explanation Debit Credit April 1 May 1 May 1 June 1 Sept 1 PART B Dec 31 31 (c) Partial Balance Sheet TONG CORPORATION Partial Balance Sheet December 31, 2014 Assets Plant assets Account title Amount Account title Amount Account title Amount Account title (or contra account) Amount Total plant assets Amount Problem 9-7B (a) BUS 1 Year Computation Accumulated Depreciation Amount Amount Amount BUS 2 Year Computation Accumulated Depreciation Amount Amount Amount BUS 3 Year Computation Accumulated Depreciation Amount Amount Amount (b) BUS 2 Year Depreciation Expense Amount Amount

Complete the following Workbook Template Week Four or you may complete the problems P8-2B and P8-6B from Chapter 8 and Problems P9-2B and P9-7B from Chapter 9.

BUS591 – Financial Statement and Analysis

Week 4 Homework Assignment Templates

Instructions: Only enter data in the yellow boxes. The remaining areas are already completed for you.

Save the file as follows: lastnamewk4.docx

Submit to the assignment box before the due date. (Late assignments will receive a late penalty).
Problem 8-2B

(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
Date Account Titles and Explanation Debit Credit
1

2

3

4

5
(b) Enter the January 1, 2014 balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the transactions to the ledger T Accounts
Be sure to post the amounts to the correct side of the T-Account!

Accounts Receivable
Bal. (2)
(1) (3)
(5) (4)
(5)
Bal.
Allowance for Doubtful Accounts
(4) Bal.
(5)
Bal.
(c) Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000.

Balance needed $
Balance before adjustment [see (b)]
Adjustment required $
The journal entry would therefore be as follows:

(d) Accounts Receivable Turnover Ratios:

Enter your answer here

Average Collection Period:

Enter your answer here
Problem 8-6B (next page)

(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
Date Account Titles and Explanation Debit Credit
5

20

Feb 18

Apr 20

30

May 25

Aug 18

Sept. 1

Problem 9-2B

(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).

If there are two entries for the same day, then you do not need to enter the date again.
Date Account Titles and Explanation Debit Credit
April 1

May 1

May 1

June 1

Sept 1
PART B

Dec 31

31

(c) Partial Balance Sheet

TONG CORPORATION
Partial Balance Sheet
December 31, 2014

Assets
Plant assets
Account title Amount
Account title Amount
Account title Amount
Account title (or contra account) Amount
Total plant assets Amount

 
Problem 9-7B

(a)
BUS 1
Year Computation Accumulated Depreciation
Amount
Amount
Amount
BUS 2
Year Computation Accumulated Depreciation
Amount
Amount
Amount

BUS 3
Year Computation Accumulated Depreciation
Amount
Amount
Amount

(b)

BUS 2
Year Depreciation Expense
Amount
Amount

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