00 1. C. Show the impact (with amounts) of each of the following items on the horizontal equation. For the asset section, name the specific accounts impacted. i. Record Sales during the year on account of $205,000. ii. Show the impact of $190,000 cash collected during the year. iii. Establish an Allowance for Uncollectible Accounts at year-end. iv. In the following year, an account worth $6,000 is determined to be uncollectible, what is the entry? v. A receivable for $3,500 that was previously written off is collected. What is the 2 step entry? Assets Liabilities + Stockholders' Revenues Expenses Net Income Cash Equity Flow NA NA Increase NA Increase Assets Revenue in the Form of in the Accounts form of Receivable $ Sales 205000 Revenue $ 205000 2. 3. 4. O Focus O AW 68°F sur prt sc home f11 f12 delete f5 Oly 144 & backspace -> unu lock 7. 6. 5. 6. 4. { 99 enter 6, 00 9, References O Find b 13壬玉^ 、三 I Normal AaBbCcDd AaBbCcDd AaBbC AABBCCD S Replace Dictate Se Create and Share Request Signatures T No Spac. Heading 1 Heading 2 A Select v Adobe PDF 令、三三三三三 Adobe Acrobat Voice Se bunp Net Income Paragraph Styles Cash + Stockholders' Equity Assets Liabilities Revenues Expenses Flow NA NA Increase NA 1. Increase Assets Revenue in the Form of in the Accounts form of Receivable $ Sales 205000 Revenue $ 2. 3. 4. 5a. 5b. 4. Study guide - Chapter 5 (with solutions).docx D Focus 区。 68°F f5 f11 f12 prt sc delete %24 4. + backspace 7. }
00 1. C. Show the impact (with amounts) of each of the following items on the horizontal equation. For the asset section, name the specific accounts impacted. i. Record Sales during the year on account of $205,000. ii. Show the impact of $190,000 cash collected during the year. iii. Establish an Allowance for Uncollectible Accounts at year-end. iv. In the following year, an account worth $6,000 is determined to be uncollectible, what is the entry? v. A receivable for $3,500 that was previously written off is collected. What is the 2 step entry? Assets Liabilities + Stockholders' Revenues Expenses Net Income Cash Equity Flow NA NA Increase NA Increase Assets Revenue in the Form of in the Accounts form of Receivable $ Sales 205000 Revenue $ 205000 2. 3. 4. O Focus O AW 68°F sur prt sc home f11 f12 delete f5 Oly 144 & backspace -> unu lock 7. 6. 5. 6. 4. { 99 enter 6, 00 9, References O Find b 13壬玉^ 、三 I Normal AaBbCcDd AaBbCcDd AaBbC AABBCCD S Replace Dictate Se Create and Share Request Signatures T No Spac. Heading 1 Heading 2 A Select v Adobe PDF 令、三三三三三 Adobe Acrobat Voice Se bunp Net Income Paragraph Styles Cash + Stockholders' Equity Assets Liabilities Revenues Expenses Flow NA NA Increase NA 1. Increase Assets Revenue in the Form of in the Accounts form of Receivable $ Sales 205000 Revenue $ 2. 3. 4. 5a. 5b. 4. Study guide - Chapter 5 (with solutions).docx D Focus 区。 68°F f5 f11 f12 prt sc delete %24 4. + backspace 7. }
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 2EA: Consider the following accounts and determine if the account is a current liability, a noncurrent...
Related questions
Question
Transcribed Image Text:00
1.
C. Show the impact (with amounts) of each of the following items on the horizontal
equation. For the asset section, name the specific accounts impacted.
i. Record Sales during the year on account of $205,000.
ii. Show the impact of $190,000 cash collected during the year.
iii. Establish an Allowance for Uncollectible Accounts at year-end.
iv. In the following year, an account worth $6,000 is determined to be
uncollectible, what is the entry?
v. A receivable for $3,500 that was previously written off is collected. What is the
2 step entry?
Assets
Liabilities
+ Stockholders'
Revenues
Expenses
Net Income
Cash
Equity
Flow
NA
NA
Increase
NA
Increase Assets
Revenue
in the Form of
in the
Accounts
form of
Receivable $
Sales
205000
Revenue $
205000
2.
3.
4.
O Focus
O AW
68°F
sur
prt sc
home
f11
f12
delete
f5
Oly
144
&
backspace
->
unu
lock
7.
6.
5.
6.
4.
{
99
enter
Transcribed Image Text:6,
00
9,
References
O Find
b 13壬玉^ 、三
I Normal
AaBbCcDd AaBbCcDd AaBbC AABBCCD
S Replace
Dictate
Se
Create and Share Request
Signatures
T No Spac. Heading 1
Heading 2
A Select v
Adobe PDF
令、三三三三三
Adobe Acrobat
Voice
Se
bunp
Net Income
Paragraph
Styles
Cash
+ Stockholders'
Equity
Assets
Liabilities
Revenues
Expenses
Flow
NA
NA
Increase
NA
1.
Increase Assets
Revenue
in the Form of
in the
Accounts
form of
Receivable $
Sales
205000
Revenue $
2.
3.
4.
5a.
5b.
4.
Study guide - Chapter 5 (with solutions).docx
D Focus
区。
68°F
f5
f11
f12
prt sc
delete
%24
4.
+ backspace
7.
}
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