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Maybe your book and professor explain it different than mine, but hope you find the info that I gave you useful. I am using the Financial Accounting , Information for decisions 4th edition by John J....

OK you have to do two different entries for this question, first to record the wrote off, qand then the adjustment of the balance for ADAcc. When using accounts receivables to calculate...

FIFO
Date... Goods purchased... cost of goods sold... inventory balance
6/1... begining balance... 25@50=$1,250
6/6... 20@50= $1,000... 5@50= $250
6/8... 20@51= $1,020... 5@50= $250
......

does allowance for doubtful accounts has any other entries prior to the $779 were wrote off? Is not the entries are as follow
to record the wrote off
Dr. Allowance for doubtful accounts... 779
Cr....

this is a straight line amortization of the bond premium
150,000 premium divided by 20 semianual periods = 7,500 per period
Semiannual period end... unammort. Premium... carrying value
0)1/1/07......

a)
Dr.Accounts receivable... 10,000
Cr. Sales... 10,000
----
Dr. Cost of goods sold... 4,500
Cr. Merchandise inventory... 4,500
b)
Dr. Accounts receivable- Master card & visa... 8,500
Cr....

Aug.1
Dr. Rent Exp3ense…………….. 1,600
Cr. Cash………………………………1,600
Aug. 3
Dr. Merchandise Inventory…………….15,000
Cr. Accounts Payable………………………….15,000
Aug. 4
Dr. Merchandise Inventory……………………400...

Your ending balance for allowance for doubtful accounts has to be 14,500, but after doing all the reinstaments and wrote off you have a credit balance of 2,075 for allowance for doubtful accounts so...

Which entries do you need help with?

To reinstated the account
Dr.Accounts receivables... 1250
Cr.Allowance for doubtful accounts... 1250
To record the payment
Dr.Cash... 1250
Cr.Accounts receivable... 1250
To ecord the wrote off...

First 120,000 - 92,000 = 28,000
Dr.Cost of goods sold... 28,000
Cr.Merchandise inventory... 28,000

the income tax is not missing you just haven't calculated yet, after you prepare your income stament as you ussually do revenues-expenses= income before taxes - 30%(income taxes)=Net income after...

Do u need help with everything or something in specific?
For the December unadjusted trial balance, you first need to abtain the new balance for every account in the previos unadjusted T.B, that...

A deposit in transit is whatever amount of money you sent to the bank to deposit but the money is not yet in your account.

Another thing you don't affect accounts receivables, unless, increasing accounts receivable, getting pay, transpasing any amount to notes receivables,or you are writing off an account, remember you...

What you need to do is to
Dr.Bad debts expense... 14500
Cr.Allowance for doubtful accounts... 14500
This is assuming you don't have any previous debits and credit in alowance for daubtful...

January it tells you the balance for allowance for uncollectible accounts, which might be from the previous year, then during the year you wrote off an account,
Dr.Allowance for uncollectible...

OK, I think that you are supposed to take the numbers from your accounts receivable account (you only need to calculated the receivables for credit sales, because for what you wrote you might also...

Both accumulated depreciation and depreciation expense will appear in the adjusted trial balance, but only accumulated depreciation will appear in the post-closing trial balance.
And accumulated...

No bills have been received so cash cannot be affect.
The entry would be
Dr.Utility expense
Cr.accounts payable (unless your company has a specific account to record accrued utility expense.)

Sorry, what if it says that the company owes each of these companies about $ 200 to $225[/QUOTE]
In the first case you need to record the expenses as accrued,Dr.Utility expense and Cr.accounts...

He is buying supplies not onventory
Dr.Supplies
Cr.Accounts payable
----------------------------------
To record the partial payment,
Cr.Accounts Payable (for the partial payment)
Dr.Cash...

Student101 when you don't know how much is being pay off you need to assume that it is for the original amount

Student101 when you don't know how much is being pay off you need to assume that it is for the original amount

OK student101 if you had read any of her previous posting you would know that she knows the balances for all the trial balances and the financial statements. And even in this post she is already...

If sweetendra has any complains about me giving her the answer let her complain to me you don't need to complain for her

I have made the necessary changes in your attacment.

When the company sold the land
Assets - liabilities = Equity
60,000 - 40,000 =20,000
When the company pay off
Assets = Liabilities + equity
20,000 = 0000000 + 20,000
Before selling...

December 1
Dr.Accounts receivable... 600
Cr.Sales... 600
---------------------------------------------------
Dec. 12
Dr.Cash... 400
Cr.Accounts receivable... 400...

Assuming that you only sold the 12,000 cases and that that was the only selling and happen the same day
FIFO
Date... Purchases... Cost of goods sold... Inventroy
1/1... Beginning inventory......

Ok This what you need to do
Bank balance... $9,000.2... Book balance... $4,677.1
Add... Add
Deposit on transit... 700... Sale wrongly record.. 18
... Note collected... 2,000
... Interest...

OK in order for me to help you need to include in your post the beginning invnetory balance and its value, also you need to inclued any purchased or selling of any merchandise inventory.

For 1/23 the entries are
Dr.Accounts receivable... 12,000
Cr.Sales... 12,000
---------------------------------------
Dr.Cost of goods sold... 7,200
Cr.Merchandise inventory... 7,200...

Bank statement cash balance... $1,330... Book balance... $499
Add... Add
Deposit of sep 30 on transit... 160... Collected ammt... 800
... $1,490... Interest revenue... 40
Deduct... $1,339
......

First
Dr. Note receivables... 30,000
Cr.Account receivable... 30,000
---------------------------------------------------------
When the pay the note in 90 days then'
Dr.Cash... 30,900...

you just need to record the sale and the cost of the goods sold
Dr.Accounts receivable... 40,000
Cr.Sales... 40,000
sold mecrchandise credit terms 2/10,n/30...

I think that this is what you have to do,
record the sale
Dr.Cash... 20,000
Cr.Sales... 20,000
----------------------------------------------------
20,000 x .38= $7,600 this is the profict...

December 31, Acc. Rec... Age of Acc. Rec... Exp.%uncollec... Ammount
$20,000... not yet due... 1%... $200
$10,000... 1-60 days past due... 4%... $400
$2,000... over 60 days past... 8%... $160
...

Dr.Office equipment... 421
Cr.Cash... 421
assuming the purchased was made on cash
-----------------------------------------------------------------
end of July this entries are assuming if you...

December 31, Acc. Rec... Age of Acc. Rec... Exp.%uncollec... Ammount
$20,000... not yet due... 1%... $200
$10,000... 1-60 days past due... 4%... $400
$2,000... over 60 days past... 8%... $160
...

Date... Goods Purchased... Cost of goods sold... inventory Bal.
9/1... begining inventory... 10@120=$1,200
9/5... 60@112= $6,720... 10@120=$1,200
... 60@112=$6,720
... avg. 70@$113
9/14......

In order for you to do the specific identification method you need to know the specific price for which each unit was sold at.
Then the answer to your Qs is "a" more info is needed

In the periodic system you don't use the cost of goods sold or merchandise inventory accounts
For a (valez's records)
Dr. Purchanses... 1,000
Cr. Accounts Payable... 1,000...

You are welcome.

Dr.Employee's income tax payable... 16,800
Dr.FICA Tax payable... 10,612
Cr. Cash... 27,412

I wish you had included the amount or % of the discount given. I am guessing the discount is for a sale
Then:
Dr. Cash... xxxxx
Dr. Sales discount... xxxxx
Cr. Accounts receivable... $9,340
...

OK this is what you need to do, since the check was recorded in the cash account for less of the actually value you need to deduct the difference of 570 less 57 (513) to the cash account, and in the...

Don't even bother reading my little brother's answer, is not completely wrong but is not right. He was working on his homework and did not concentrate before answering your question.:D

Firstable you need to register the entry for the purchase of merchandise
Dr. Merchandise Inventory... 25,000
Cr. Accounts Payable... 25,000
Purchased merchandise credit terms 2/10,n/30...

if you are doing financial statements each month you need to adjustments every month, if you do financial statements anytime before September 17 you need to do adjustments to record the accrued...