financial accounting 习题答案文档(5)

Fees Earned ..........................................................

b. (1) Salaries Payable ......................................................... Sales Salaries Expense ........................................

6,480

10,250

10,250

6,480 10,250

(2) Fees Earned ................................................................ Accounts Receivable ............................................ 4-21

a. (1) Payment (last payday in year)

(2) Adjusting (accrual of wages at end of year) (3) Closing (4) Reversing

(5) Payment (first payday in following year)

45,000

18,000

1,120,800

18,000

43,000

b. (1) Wages Expense .......................................................... Cash .......................................................................

45,000 18,000 1,120,800 18,000 43,000

(2) Wages Expense .......................................................... Wages Payable ...................................................... (3) Income Summary ....................................................... Wages Expense .................................................... (4) Wages Payable ........................................................... Wages Expense ....................................................

(5) Wages Expense .......................................................... Cash .......................................................................

Chapter6（找不到答案，自己处理了哦）

Ex. 8–1

a. Inappropriate. Since Fridley has a large number of credit sales

supported by promissory notes, a notes receivable ledger should be maintained. Failure to maintain a subsidiary ledger when there are a significant number of notes receivable transactions violates the internal control procedure that mandates proofs and security. Maintaining a notes receivable ledger will allow Fridley to operate more efficiently and will increase the chance that Fridley will detect accounting errors related to the notes receivable. (The total of the accounts in the notes receivable ledger must match the balance of notes receivable in the general ledger.)

b. Inappropriate. The procedure of proper separation of duties is

violated. The accounts receivable clerk is responsible for too many related operations. The clerk also has both custody of assets (cash receipts) and accounting responsibilities for those assets. c. Appropriate. The functions of maintaining the accounts receivable

account in the general ledger should be performed by someone other than the accounts receivable clerk. d. Appropriate. Salespersons should not be responsible for approving

credit. e. Appropriate. A promissory note is a formal credit instrument that is

frequently used for credit periods over 45 days.

Ex. 8–2-a

a.

Customer Due Janzen Industries 30)

Kuehn Company Mauer Inc.

Pollack Company Simrill Company

Due Date August 29 September 3 October 21 November 23 December 3

Number of Days Past 93 days (2 + 30 + 31 + 88 days (27 + 31 + 30) 40 days (10 + 30) 7 days

Not past due

Ex. 8–3

Nov. 30 Uncollectible Accounts Expense ....................... Allowances for Doubtful Accounts ...............

53,315*

53,315

*$60,495 – $7,180 = $53,315

Ex. 8–4

Estimated Uncollectible Accounts Age Interval

Balance $450,000 110,000 51,000 12,500 7,500 5,500 Percent 2% 4 6 20 60 80

Amount $ 9,000 4,400 3,060 2,500 4,500 4,400

Not past due ............................... 1–30 days past due .................... 31–60 days past due .................. 61–90 days past due .................. 91–180 days past due ................ Over 180 days past due .............

Total ....................................... $636,500 $27,860 Ex. 8–5

2006

Dec. 31 Uncollectible Accounts Expense ....................... ................ Allowance for Doubtful Accounts

29,435*

29,435

*$27,860 + $1,575 = $29,435

Ex. 8–6

a. $17,875 c. $35,750 b. $13,600

d. $41,450

Ex. 8–7

a.Allowance for Doubtful Accounts .................................... Accounts Receivable ..........................................

b.Uncollectible Accounts Expense ..................................... Accounts Receivable ..........................................

Ex. 8–8

Feb. 20 Accounts Receivable—Darlene Brogan ............ Sales ................................................................

20 Cost of Merchandise Sold ..................................

Merchandise Inventory ..................................

May 30 Cash ...................................................................... Accounts Receivable—Darlene Brogan ....... 30 Allowance for Doubtful Accounts ...................... Accounts Receivable—Darlene Brogan .......

Aug. 3 Accounts Receivable—Darlene Brogan ............

Allowance for Doubtful Accounts .................

3 Cash ...................................................................... Accounts Receivable—Darlene Brogan .......

7,130

7,130

12,100

7,260

6,000

6,100

6,100

6,100

7,130

7,130

12,100 7,260

6,000

6,100

6,100 6,100

Ex. 8–9

$223,900 [$212,800 + $112,350 – ($4,050,000 × 2 1/2%)]

Ex. 8–10