The accounts receivable clerk for Kirchhoff Industries prepared the following partially completed aging of receivables schedule as of the end of business on November 30:
Not | Days Past Due | |||||||||||
Past | Over | |||||||||||
Customer | Balance | Due | 1-30 | 31-60 | 61-90 | 90 | ||||||
Academy Industries Inc. | 5,400 | 5,400 | ||||||||||
Ascent Company | 3,000 | 3,000 | ||||||||||
Zoot Company | 11,100 | 11,100 | ||||||||||
Subtotals | 742,300 | 448,300 | 163,300 | 71,300 | 37,100 | 22,300 |
The following accounts were unintentionally omitted from the aging schedule and not included in the subtotals above:
Customer | Balance | Due Date | |
Conover Industries | $10,400 | July 10 | |
Keystone Company | 7,400 | September 21 | |
Moxie Creek Inc. | 14,800 | October 16 | |
Rainbow Company | 8,900 | November 3 | |
Swanson Company | 20,000 | December 21 |
a. Determine the number of days past due for each of the preceding accounts as of November 30. If an account is not past due, enter 0.
Customer | Due Date | Number of Days Past Due |
Conover Industries | July 10 | days |
Keystone Company | September 21 | days |
Moxie Creek Inc. | October 16 | days |
Rainbow Company | November 3 | days |
Swanson Company | December 21 | days |
b. Complete the aging-of-receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals. If an amount box does not require an entry, leave it blank.
Part-a: Compuation of Number of Days-Kirchhoff | |||
Customer | Due date | Number of days past due | |
Conover Industries | 11-Jul | 142 | Days |
Keystone Company | 21-Sep | 72 | Days |
Moxie Creek Inc | 16-Oct | 43 | Days |
Rainbow Company | 3-Nov | 25 | Days |
Swanson Company | 21-Dec | Not Due |
Part-b:Aging of Receivable | ||||||
Customer | Balance | Not past due | 1-30 days | 31-60 days | 61-90days | over 90 days |
Acadamy Industries Inc. | $5,400.00 | $5,400.00 | ||||
Ascent Company | $3,000.00 | $3,000.00 | ||||
Conover Industries | $10,400.00 | $10,400.00 | ||||
Keystone Company | $7,400.00 | $7,400.00 | ||||
Moxie Creek Inc | $14,800.00 | $14,800.00 | ||||
Rainbow Company | $8,900.00 | $8,900.00 | ||||
Swanson Company | $20,000.00 | $20,000.00 | ||||
Zoot Company | $11,100.00 | $11,100.00 | ||||
Total | $81,000.00 | $25,400.00 | $11,900.00 | $25,900.00 | $7,400.00 | $10,400.00 |
The accounts receivable clerk for Kirchhoff Industries prepared the following partially completed aging of receivables schedule...
46 Aging of Receivables Schedule The accounts receivable clerk for Kirchhoff Industries prepared the following partially completed aging of receivables schedule as of the end of business on November 30: Not Days Past Due Past Over Customer Balance Due 1-30 31-60 61-90 90 Academy Industries Inc. 3,200 3,200 Ascent Company 4,400 4,400 Zoot Company 11,000 11,000 Subtotals 871,500 526,400 191,700 83,700 43,600 26,100 The following accounts were unintentionally omitted from the aging schedule and not included in the subtotals above:...
The accounts recetvabie cierk tor Kirehnot Industries preoared the tollowing partialy completed aging of receivables schedule as of the end of business an November 30 Not Days Past Due Past Over Customer Balance Due 1-30 31-60 61-90 90 Academy Industries Inc. S,000 5,000 Ascent Company 3,400 3,400 Zoot Compamy 7,400 7,400 Subtotals 764, 200 461,600 168, 100 73,400 38,200 22,900 The following accounts were unintentlonally omitted from the aging schedule and not included In the subtotals aboVe: Customer Balance Due...
Aging of Receivables Schedule The accounts receivable clerk for Evers Industries prepared the following partially completed aging of receivables schedule as of the end of business on November 30: Not Days Past Due Past Over Customer Balance Due 1-30 31-60 61-90 90 Acme Industries Inc. 5,500 5,500 Alliance Company 4,600 4,600 Zollinger Company 7,900 7,900 Subtotals 850,500 513,800 187,100 81,600 42,500 25,500 The following accounts were unintentionally omitted from the aging schedule and not included in the subtotals above: Customer...
Keystone Company Moxie Creek Inc. Rainbow Company Swanson Company 18,000 9,000 26,400 46,600 July 1 July 25 September 10 August 3 a. Determine the number of days past due for each of the preceding accounts as of August 31. If an account is not past due, enter 0. Customer Due Date Number of Days Past Due Conover Industries March 22 Keystone Company July 1 days days Moxie Creek Inc. July 25 September 10 days Rainbow Company Swanson Company August 3...
Estimating Allowance for Doubtful Accounts Kirchhoff Industries has a past history of uncollectible accounts, as shown below. Age Class Percent Uncollectible Not past due 1% 1-30 days past due 6 31-60 days past due 25 61-90 days past due 35 Over 90 days past due 50 Estimate the allowance for doubtful accounts, based on the aging of receivables schedule below. Kirchhoff Industries Aging of Receivables Schedule Customer Balance Not Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90...
48 Kirchhoff Industries has a past history of uncollectible accounts, as shown below. Age Class Percent Uncollectible Not past due 2% 1-30 days past due 6 31-60 days past due 25 61-90 days past due 35 Over 90 days past due 50 Estimate the allowance for doubtful accounts, based the aging of receivables schedule below. Kirchhoff Industries Aging of Receivables Schedule Customer Balance Not Past Due 1-30 Days Past Due 178,900 31-60 Days Past Due 61-90 Days Past Due 40,700...
Adjustment for Uncollectible Accounts Below is the aging of receivables schedule for Evers Industries. Aging-of-Receivables Schedule November 30 Customer Balance Not Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90 Days Past Due Subtotals 702,200 414,300 154,500 63,200 35,100 35,100 Boyd Industries 14,600 14,600 Hodges Company 15,800 15,800 Kent Creek Inc. 7,300 7,300 Lockwood Company 7,500 7,500 Van Epps Company 29,200 29,200 Totals 776,600 443,500 162,000 70,500 50,900 49,700 Percentage uncollectible 2% 6%...
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how can I solve this question? Below is the aging of receivables schedule for Evers Industries. Aging-of-Receivables Schedule November 30 Not Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90 Days Past Due Customer Balance Subtotals 687,500 405,600 151,300 61,900 34,400 34,300 Boyd Industries 13,700 15,600 6,900 7,900 Hodges Company Kent Creek Inc. Lockwood Company Van Epps Company Totals Percentage uncollectible Allowance for Doubtful Accounts 13,700 15,600 6,900 7,900 28,700 28,700 760,300 434,300...
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