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 | Balance | Due Date | |
Boyd Industries | $11,900 | July 9 | |
Hodges Company | 8,500 | September 21 | |
Kent Creek Inc. | 17,000 | October 18 | |
Lockwood Company | 10,200 | November 4 | |
Van Epps Company | 23,000 | 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 |
Boyd Industries | July 9 | days |
Hodges Company | September 21 | days |
Kent Creek Inc. | October 18 | days |
Lockwood Company | November 4 | days |
Van Epps 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.
Evers Industries | ||||||
Aging of Receivables Schedule | ||||||
November 30 | ||||||
Customer | Balance | Not Past Due | Days Past Due 1-30 | Days Past Due 31-60 | Days Past Due 61-90 | Days Past Due Over 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 |
Boyd Industries | ||||||
Hodges Company | ||||||
Kent Creek Inc. | ||||||
Lockwood Company | ||||||
Van Epps Company | ||||||
Totals | $ | $ | $ | $ | $ | $ |
Aging of Receivables Schedule The accounts receivable clerk for Evers Industries prepared the following partially completed...
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%...
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 788,100 465,000 173,400 70,900 39,400 39,400 Boyd Industries 12,000 12,000 Hodges Company 21,600 21,600 Kent Creek Inc. 6,300 6,300 Lockwood Company 8,100 8,100 Van Epps Company 25,700 25,700 Totals 861,800 490,700 181,500 77,200 61,000 51,400 Percentage uncollectible 1% 6% 25% 35% 50% Allowance...
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...
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 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...
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...
Instructions First Question A Determine the number of days past due for each of the accounts below as of July 31. If an account is not pas che, enter a zero Customer Boyd Industries Number of Days Past Due 115 days Due Date April 7 May 29 June 8 August 10 July 2 Hodges Company Kent Creek Inc. Lockwood Company Van Epps Company days agenow.com/len/takeAssignment/takeAssignmentMain.doFinvokerassignments&takeAssignmentSessionLocatoreassignment-takeinprogress-false eBook Show Me How Calculator L Percent of Sales Method At the end of the...
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...
Aging of Receivables; Estimating Allowance for Doubtful AccountsWig Creations Company supplies wigs and hair care products to beauty salons throughout Texas and the Southwest. The accounts receivable clerk for Wig Creations prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 20Y1:Days Past DueCustomerBalanceNot Past Due1-3031-6061-9091-120Over 120Subtotals786,000436,200188,60086,50029,10025,90019,700The following accounts were unintentionally omitted from the aging schedule:CustomerDue DateBalanceArcade BeautyMay 28, 20Y1$2,700Creative ImagesSept. 7, 20Y15,700Excel Hair ProductsOct. 17, 20Y1800First Class Hair CareOct. 24, 20Y11,900Golden ImagesNov....