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Assignment

Check Figures

448

P9-1A

(b) Ending balance, Accounts Receivable, $1,320,000; Allowance for Doubtful Accounts, $5,000

448

P9-2A

(a) $38,000

(b) $63,000

(d) $53,400

449

P9-3A

(a) Bad Debts Expense, $16,050

(c) Bad Debts Expense, $12,050

449

P9-4A

(a) $16,500

449

P9-5A

(a) Bad Debts Expense, $30,000

(d) Ending balance, Allowance for Doubtful Accounts, $7,000

450

P9-6A

Debit to Cash account, $27,195,000

450

P9-7A

(a) Credit sales, $76,000

450

P9-8A

April 12, interest revenue Gage note, $130; Dec. 31, no entry required

450

P9-9A

(c) Total current assets, $27,635

451

P9-10A

(a) Acid test ratio, 2000, 0.4:1; 1999, 0.6:1

(b) Receivables turnover, 2000, 7.1x; 1999, 8.7x

451

P9-1B

(c) Ending balance, Accounts Receivable, $1,195,000; Allowance for Doubtful Accounts, $71,200

452

P9-2B

(a) $24,000

(b) $45,000

(d) $32,000

452

P9-3B

(a) Bad Debts Expense, $18,950

(b) Ending balance, Allowance for Doubtful Accounts, $28,950

453

P9-4B

(a) $10,300

453

P9-5B

(f) Ending balance, Accounts Receivable, $184,000; Allowance for Doubtful Accounts, $22,080

453

P9-6B

Debit to Cash account, $21,650,000

453

P9-7B

(a) Credit sales, $79,000

454

P9-8B

Dec. 31, Interest Revenue, $400

454

P9-9B

(d) Total current assets, $21,578

455

P9-10B

(a) Acid test ratio, 2000, 0.8:1; 1999, 0.6:1

(b) Receivables turnover, 2000, 4.9x; 1999, 6.2x

455

BYP9-1

(a) Receivables turnover, 2000, 8.7x; 1999, 4.4x

455

BYP9-2

(a) Acid test ratio, 1999, 0.7:1; 1998, 0.4:1

(b) Receivables turnover, 1999, 9.9x; 1998, 10.8x

456

BYP9-4

(a) Total expenses as a percentage of net credit sales, 2001, 3.8%

(b) Net expenses as a percentage of net credit sales, 2001, 4.2%