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EXERCISES Week 10

Matakuliah : V0232 – Akuntansi Keuangan Hotel Tahun : 2009. EXERCISES Week 10. EXERCISES. 12-5 Leland Hotels has accounts receivable of $98,100 at March 31. An analysis of the accounts shows the following:.

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EXERCISES Week 10

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  1. Matakuliah : V0232 – Akuntansi Keuangan Hotel Tahun : 2009 EXERCISESWeek 10

  2. EXERCISES 12-5 Leland Hotels has accounts receivable of $98,100 at March 31. An analysis of the accounts shows the following: Credits terms are 2/10, n/30. On March 31, Allowance for Doubtfull Accounts has a credit balance of $1,200 prior to adjustment. The company uses the precentage of receivable basis for estimating uncollectible accounts. The company’s estimate of bad debts is as follows:

  3. Instructions: • Determine the total estimated uncollectibles. • Prepare the adjusting entry at March 31 to record bad debts expense

  4. 12-6 On december 31, 2008, Crawford resort estimate d that 1.5 % of its net sales of $400,000 would become uncollectible. The company recorded this month as an addition to Allowance for Doubtful Accounts. On May 11, 2009, Crawford Co. determined that Kevin Hayes’s account was uncollectible and wrote off $1,100.On June 12, 2009, Hayes paid the amount previously written off. Instructions: (a) Prepare the journal entries on December 31, 2008: May 11,2009 and June 12, 2009 12-13 Record the following transaction for Amy Ice Co. in the general journal: 2008 May 1 Received a $12,000, one-year, 10 % note on account from Rasa’s Hamburger. Dec. 31 Accured interest on the note. Dec. 31 Closed the interest revenue account. 2009 May 1 Received principal plus interest on the note, (No interest has been accured in 2009)

  5. 12-14 The following is an aging schedule for Griffin Hotel: On December 31, 2008, the unadjustment balance in Allowance for Doubtful Accounts is a credit of $12,000.

  6. Instructions: Journalize and post the adjusting entry for bad debts at December 31, 2008 Journalize the adjusting entry for bad debts on December 31, 2009, assuming that the aging schedule indicates that total estimated bad debts will be $30,300.

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