ALL ANSWERS should be in excel formulas. Xercise Cycles Company
Xercise Cycles Company has provided its year ended accounts receivables that were uncollected. The Controller has asked you to help prepare the Aging of Accounts Receivable Schedule and the corresponding journal entries. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.
1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx).
2) Use the information above to complete the Aging of Accounts Receivable Schedule Below.
Create a formula for each age category, using the Excel IF and AND FUNCTION (fx) to determine where each customer amount belongs
3) Prepare the adjusting journal entry for recording bad debt expense if the allowance for doubtful accounts had the following unadjusted balance:
4) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts had the following unadjusted balance:
Homework Answers
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ALL ANSWERS should be in excel formulas. Xercise Cycles
Company
Xercise Cycles Company has provided its...
Xercise Cycles Company has provided its year ended accounts receivables that were uncollected. ALL answers MUST...
Xercise Cycles Company has provided its year ended accounts
receivables that were uncollected.
ALL answers MUST be an excel
formula using the excel function requested in each segment as
follows
1. Prepare an aging of accounts receivable and compute bad debt expense. ? - X S8= FILE HOME INSERT Aging of accounts receivable method - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In BIU . A A Paste Clipboard Alignment Number Alianment Number Conditional Format as CellCells Formatting Table...
I need to use the excel functions to find the correct answers. The first picture has...
I need to use the excel functions to find the correct answers.
The first picture has the correct numerical values. Please solve
the rest, and show me how you got those answers.
A F G 1 B с D E Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected. 2 3 Required: 4 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx). 5 6 Number of...
I need the excel formulas for the information below, please!Xercise Cycles Company has provided its...
I need the excel formulas for the information below, please!Xercise Cycles Company has provided its year ended accounts
receivables that were uncollected. The Controller has asked you to
help prepare the Aging of Accounts Receivable Schedule and the
corresponding journal entries. Use the information included in the
Excel Simulation and the Excel functions described below to
complete the task.Xercise Cycles Company has provided its year ended accounts
receivables that were uncollected. The Controller has asked you to
help prepare the...
Xercise Cycles Company sells exercise equipment to gyms on account.
Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected. Required: 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx). 2) Use the information above to complete the Aging of Accounts Receivable Schedule below.3) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts4) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts
Xercise Cycles Company sells exercise equipment to gyms on account. At year end
Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected. Required: 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx). 2) Use the information above to complete the Aging of Accounts Receivable Schedule below. Create a formula for each age category, using the Excel IF and AND FUNCTIONS (fx) to determine where each customer amount belongs. The IF statement may include the following arguments: <,>, >>, <=, Excel AND FUNCTION (fx). 3) Prepare...
Xercise Cycles Company sells exercise equipment to gyms on account
Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected. Required: 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (Ex). 2) Use the information above to complete the Aging of Accounts Receivable Schedule below. Create a formula for each age category, using the Excel IF and AND FUNCTIONS (Ix) to determine where each customer amount belongs. The IF statement may include the following arguments: <.>.>,<, Excel AND FUNCTION (fx).
The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July 31,...
The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July 31, 2016 Total Accounts | Receivable $127,300 $90,000 $54,400 $32600 Historical % Uncollectible 296 1296 18% 34% Number of Days Unpaid Over 60 days past due Required: a. The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies, Inc. is a credit balance in the amount of $29,187 on July 31, 2016. Prepare the required adjusting entry to record Bad Debt Expense for...
Aging Schedule (Excel) Mets Company had a $1,000 credit balance in Allowance for Doubtful Accounts at...
Aging Schedule (Excel) Mets Company had a $1,000 credit balance in Allowance for Doubtful Accounts at December 31, 2018, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: Estimated Percentage Uncollectible Current Accounts $110,000 2% 1-30 days past due 30,000 5% 31-60 days past due 20,000 8% 61-90 days past due 25,000 15% Over 90 days past due 15,000 40% Total Accounts Receivable $200.000 Instructions: You must show and explain your answers...
Aging Schedule (Excel) MetS company had a $1,000 credit balance in Allowance for Doubtful Accounts at...
Aging Schedule (Excel) MetS company had a $1,000 credit balance in Allowance for Doubtful Accounts at December 31, 2018, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: Estimated Percentage Uncollectible Current Accounts $110,000 2% 1-30 days past due 30,000 31-60 days past due 20,000 8% 61-90 days past due 25,000 15% Over 90 days past due 15,000 40% Total Accounts Receivable $200.000 5% Instructions: You must show and explain your answers...
Daley Company prepared the following aging of receivables analysis at December 31. Exercise 9-8 Aging of...
Exercise 9-8 Aging of receivables method P3Daley Company prepared the following aging of receivables analysis at December 31. Days Past DueTotal0 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable$570,000$396,000$90,000$36,000$18,000$30,000Percent uncollectible 1%2%5%7% 10% a. Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $3,600 credit. c. Prepare the adjusting entry to record bad...
Xercise Cycles Company has provided its year ended accounts
receivables that were uncollected.
ALL answers MUST be an excel
formula using the excel function requested in each segment as
follows
1. Prepare an aging of accounts receivable and compute bad debt expense. ? - X S8= FILE HOME INSERT Aging of accounts receivable method - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In BIU . A A Paste Clipboard Alignment Number Alianment Number Conditional Format as CellCells Formatting Table...
I need to use the excel functions to find the correct answers.
The first picture has the correct numerical values. Please solve
the rest, and show me how you got those answers.
A F G 1 B с D E Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected. 2 3 Required: 4 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx). 5 6 Number of...
I need the excel formulas for the information below, please!Xercise Cycles Company has provided its year ended accounts
receivables that were uncollected. The Controller has asked you to
help prepare the Aging of Accounts Receivable Schedule and the
corresponding journal entries. Use the information included in the
Excel Simulation and the Excel functions described below to
complete the task.Xercise Cycles Company has provided its year ended accounts
receivables that were uncollected. The Controller has asked you to
help prepare the...
Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected. Required: 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx). 2) Use the information above to complete the Aging of Accounts Receivable Schedule below.3) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts4) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts
Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected. Required: 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx). 2) Use the information above to complete the Aging of Accounts Receivable Schedule below. Create a formula for each age category, using the Excel IF and AND FUNCTIONS (fx) to determine where each customer amount belongs. The IF statement may include the following arguments: <,>, >>, <=, Excel AND FUNCTION (fx). 3) Prepare...
Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected. Required: 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (Ex). 2) Use the information above to complete the Aging of Accounts Receivable Schedule below. Create a formula for each age category, using the Excel IF and AND FUNCTIONS (Ix) to determine where each customer amount belongs. The IF statement may include the following arguments: <.>.>,<, Excel AND FUNCTION (fx).
The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July 31, 2016 Total Accounts | Receivable $127,300 $90,000 $54,400 $32600 Historical % Uncollectible 296 1296 18% 34% Number of Days Unpaid Over 60 days past due Required: a. The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies, Inc. is a credit balance in the amount of $29,187 on July 31, 2016. Prepare the required adjusting entry to record Bad Debt Expense for...
Aging Schedule (Excel) Mets Company had a $1,000 credit balance in Allowance for Doubtful Accounts at December 31, 2018, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: Estimated Percentage Uncollectible Current Accounts $110,000 2% 1-30 days past due 30,000 5% 31-60 days past due 20,000 8% 61-90 days past due 25,000 15% Over 90 days past due 15,000 40% Total Accounts Receivable $200.000 Instructions: You must show and explain your answers...
Aging Schedule (Excel) MetS company had a $1,000 credit balance in Allowance for Doubtful Accounts at December 31, 2018, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: Estimated Percentage Uncollectible Current Accounts $110,000 2% 1-30 days past due 30,000 31-60 days past due 20,000 8% 61-90 days past due 25,000 15% Over 90 days past due 15,000 40% Total Accounts Receivable $200.000 5% Instructions: You must show and explain your answers...
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