Sigarilyas Company

Net sales
Multiply: Percentage 1 1/2
Bad Debt Expense

Mani Corp
AR
Less:Estimated Uncollectible accounts
Net Realizable Value

Sitaw Co.
ADA, 1/1/21
Reestablisment of an account
Bad Debt Expense
Less: Written off Accounts
ADA,12/31/21

Bataw Inc
Bad Debt Expense-2012
Less:Written-off, 2012
ADA, 12/31/21

AR
Add: ADA-12/31/21
AR before deduction

Bataw Inc
AR
Multiply:Percentage
Bad Debt Expense
add: ADA
Bad Debt Expense, adjusted

Kundol Corporation
Days Account Outstanding Amount
Less than 16 days 300,000
between 16 and 30 days 100,000
between 31 and 45 days 80,000
between 46 and 60 days 40,000
between 61 and 75 days 20,000
over 75 days 15,000

AR 555,000
Less: Amount over 75 days - 15,000
AR before ADA deduction 540,000
 Less: ADA - 45,000
AR Net 495,000

Bahay Company
Collectible 580,000
Uncollectible 130,000
AR 710,000

Labanos Company
AR- 2010 674,000
Sales 3,000,000
Customer Payment, 10 day
Customer Payment, 15 day
Customer Payment, beyond
Bad debts
Credit memo sales return
3,674,000

ADA Beg 24,000

Recovered Acc 6,000
Require Allowance 30,000
Less: Bad Debts Expense 21,000
ADA, End 39,000

Paul Corp List price

Trade Dis. 20%

Trade Dis. 30%

Invoice price
Sales dis. 2%

Delivery cost
Total payment - Camry

Thomas Corp
List price
Trade Dis. 20%

Trade Dis. (30%)

Invoice price
Sales dis. (2%)

Freight paid by buyer

Total collection
 Mongo Company
1,200,000
0.015
18,000

Sitaw Inc
1,750,000
- 180,000
1,570,000

17,000
8,000
72,000
- 30,000
67,000 Upo Co.

84,000
- 24,000
60,000
Cabbage Inc
950,000
60,000
1,010,000

310,000
0
9,300
7,000
16,300

Percentage uncollectible Estimated Uncollectible

0.02 6,000
0.10 10,000
0.15 12,000 Pink Company
0.20 8,000
0.45 9,000
deductions to AR
ADA: 45,000

Ball Company
 Discount
1,800,000 1,764,000 36,000
1,000,000 990,000 10,000
394,000
21,000
6,000 AR
3,221,000 453,000

AR 453,000
Less: Discounts 46,000
ADA, End 39,000
Carrying Amount 368,000

150,000
30,000
120,000
36,000
84,000
1,680
82,320
6,000
88,320

300,000
60,000
240,000
72,000
168,000
3,360
164,640
- 5,000
159,640
AR 460,000
Less: Est. Uncollectible - 95,000
Net Realizable Value 365,000

Year 2011 2012 2013

Sales 3,000,000 2,950,000 3,120,000
Bad Debts Exp 3% 88,500 93,600

ABD, beg 45,000 56,000

BDE 88,500 93,600
Total allowance before write off 133,500 149,600
Allowance balance, end 56,000 60,000
77,500 89,600

Age Amount Est. Uncollectible

0-30 Days 960,000 48,000
31-60 Days 64,000 6,400
Over 60 Days 32,000 22,400
76,800

Year 0-30 days 31-60 days 61-90 days 91-120 days

2,013 0.00 0.02 0.12 0.38
2,012 0.01 0.02 0.11 0.41
2,011 0.00 0.02 0.09 0.50
2,010 0.00 0.02 0.10 0.47
2,009 0.01 0.02 0.10 0.33
Average 0.00 0.02 0.10 0.42
Amount 843,200 461,000 192,400 76,650
Allowance for D/A 3,879 7,929 19,971 32,040

A/R 1,612,000
Less: Allowance for D/A 93,763
Balance of Allowance for D/A 84,500
Net Realizable Value 1,433,737

Original Amount 600,000

Payment 200,000
Total 400,000
Multiply: 8% interest 32,000

Face Value 200,000

Multiply: PV Factor 0.75132
Present Value 150,264

PV of note 24,869
Present Value 150,264
PV of note 175,133

Tanner Company
Checbook balance 21,200
Check not included 450
NSF Check - 900
Coins and Currency 1,450
Total Cash 22,200

Company Unknown
Book Balance 45,000
Credits 940
Book Error 18
Total 45,958
Less: Debit 320
Bank Error 90
45,548

Titanium
Undeposited Collections 600,000
Cash in Bank, checking accounts 4,000,000
Cash in Bank-payroll 1,000,000
Cash in Bank-Time deposit, 90 days 2,000,000
Cash in Bank-VAT 450,000
Total Cash and Cash equivalents 8,050,000
 2014
2,420,000
72,600

60,000
72,600
132,600
75,000
57,600 224,700

over 120
0.65
0.70
0.69
0.81
0.95
0.76 Total
39,400 1,612,650
29,944 93,763
Singkamas Company

Jun-30 Debit Credit Jul-31

Unadjusted Book Balance 5,810 3,100 9,250
Add: Credit Memo 1,500
Total
Less: Debit Memo 350
Adjusted Book Balance 6,540 10,400

Credit Debit
Unadjusted Bank Balance 8,150 4,500 4,000 8,650
Add: DIT 1,540 2,850
Total
Less: OC 2,000 1,100
Bank Error
Adjusted Bank Balance 7,000 10,400
DIT OC
beg 1,540 beg 2,000
Book Debit 5,810 Book Credit 3,100
Bank Credit 4,500 Bank Debit 4,000
End 2,850 End 1,100
Talong Company

Balance per book 9,647

Add: CM 1,040
Total 10,687
Less: DM 20
Book Error 18 38
Adjusted book balance 10,649

Balance per bank 8,089

Add: DIT 3,800
Cash in Hand 310 4,110
Total 12,199
Less: OC 1,550
Adjusted bank balance 10,649

-
Patani Company
Solution:
bad Debt Expense 3,240
AR 3,240

AR 4,840
Advances on Sales 4,840

ADA 3,700
AR 3,700

ADA 7,279.64
Bad Debt Expense 7,279.64

Age Balance
< 60 days 172,342 (136,490 + 4,840)
60 - 90 days 141,330 (39,924 - 3,240)
91 - 120 days 36,684 (23,644 - 3,700)
> 120 days 19,944
370,300
% ADA
1% 1,723.42
3% 4239.90
6% 2,201.04
25% 4,986.00
13,150.36
Kalabasa Company
1 Cash 136,800
Sales discount 1,200
AR 138,000

2 A/R 5,300
Allowance for DA 5,300

Cash 5,300
AR 5,300

3 Allowance for DA 17,500

Allowance for DA 17,500

4 Bad Debts 14,900

Allowance for DA 14,900
ADA, beg 17,300
Recovery 5,300
written off -17500
ADA, end 5,100

Bad debts expense 20,000

Less: Allowance for doubtful accounts -5100
Bad debts expense - Dec. 31, 2021 14,900

Accounts Receivable (182,100 - 138,000 + 5,300 - 5,300 - 17,500) 26,600

Bad debts expense -14900
Net realizable 11,700
Mango Corporation
Solution:
NR from sales of plant 2,000,000.00
Less Installment Due 1,000,000.00 1,000,000.00
NR from officer 800,000.00
NR from sale of equipment 318,800.00
Add interest Earned 28,692.00 347,492.00
NR from sale of land 1,400,000.00
Total amount to be received 451,250.00
Less: Interest earned 154,000.00 297,250.00 1,102,750.00
3,250,242.00
NR from sale of Plant 1,000,000.00
NR from sale of land 297,250.00
Current portion of long term NR 1,297,250.00
Note Receivable from sale of plant(2000000*.12*9/12) 2,000,000 X 12% X 9/12
Note Receivable from sale of land(1400000*.11*6/12) 1,400,000 X 11% X 6/12
Accrued interest receivable
180,000.00
77,000.00
257,000.00