DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant (2024)

Table of Contents
Question Video Answer Instant Answer More Than Just Reviewed By Expert Numerade Educators Video Answers to Similar Questions NO COMMENTS YET Want better grades, but can’t afford to pay for Numerade? Ask your parent or guardian for help. Add To Playlist What our students say Log in to watch this video ...and 100,000,000 more!

Rate your experience

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (1)

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (2) Bad

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (3) Decent

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (4) Love it!

Submit your feedback

Please review us on

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (7)

Suggested Textbooks

Principles of Accounting Volume 1: Financial Accounting Mitchell Franklin, Patty Graybeal, Dixon Cooper 1st Edition Horngren’s Cost Accounting Srikant M. Datar, Madhav V. Rajan 16th Edition Cost Accounting A Managerial Emphasis Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan 14th Edition

Find All Video Solutions for Your Textbook

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (11) 
DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of \( 12 / 31 / 23 \). The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps \#2 through \#92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of \( 12 / 31 / 2023 \). (Round all numbers to the nearest dollar). Label journal entries a through \( \mathbf{r} \).a. DeeDee does banking at three different financial institutions. The details are as follows:\begin{tabular}{|l|l|l|}\hline Bank & Account \# & Balance \\\hline Coterica & 123456 & 95,000 \\\hline Coterica & 123457 & \( (5,000) \) \\\hline 4th Bank & 345689 & 90,000 \\\hline Bank Two & 397567 & \( (5,000) \) \\\hline\end{tabular}b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of \( \$ 778,500 \), it is noted that two accounts totaling \( \$ 12,000 \) have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that \( 6 \% \) of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6\%)

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (13) DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (14)

Close

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (15)

Submitted by Bobby S. DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (16) Apr. 18, 2024 DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (17) 02:47 p.m.

Video Answer

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (18) DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (19) DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (20)

17 people are viewing now

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (21)

This problem has been solved!

Try Numerade free for 7 days

View This Answer

Solved on April 17, 2023, 7:26 a.m.



Step 1

The information provided shows balances in four accounts across three banks. Two of these accounts have negative balances, which are essentially overdrafts. - Coterica (123456): $95,000 - Coterica (123457): $(5,000) - 4th Bank (345689): $90,000 - Bank Two ...
The information provided shows balances in four accounts across three banks. Two of these accounts have negative balances, which are essentially overdrafts. - Coterica (123456): $95,000 - Coterica (123457): $(5,000) - 4th Bank (345689): $90,000 - Bank Two (397567): $(5,000) Journal Entry a: No journal entry is required for consolidating bank balances as this is more about understanding the cash position rather than an adjustment in the accounting records. However, it's important to recognize the overdrafts as current liabilities if not already done.

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (23)

Step 2

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (24)

Step 3

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (25)

Step 4

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (26)

Final Answer

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (27)

More Than Just

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (28)

We take learning seriously. So we developed a line of study tools to help students learn their way.

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (29)Ace Chat

Your personal AI tutor, companion, and study partner. Available 24/7.

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (30)Ask Our Educators

Ask unlimited questions and get video answers from our expert STEM educators.

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (31)Notes & Exams

Millions of real past notes, study guides, and exams matched directly to your classes.

Reviewed By Expert Numerade Educators

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (32)

Alexandra B.

Principles of Accounting

Biological Sciences
I am a recent graduate of the University of Nebraska-Lincoln with my Bachelor's in biological sciences. I currently work at Ann & Robert H. Lurie Children's Hospital of Chicago as a Clinical Research Coordinator in the Neurology department. My passion is biology, but I have excellent experience in many STEM areas!

Numerade tutor for 2 years

3 Students Helped

Video Answers to Similar Questions

Best Matched Videos Solved By Our Expert Educators DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (33) DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (34) DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (35) DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (36) DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (37)

01:50 BEST MATCH From its first day of operations to December 31, 2020, Campbell Corporation provided for uncollectible accounts receivable under the allowance method:1. Entries for bad debt expense were made monthly based on 2.5% of credit sales.2. Bad debts that were written off were charged to the Allowance for Doubtful Accounts.3. Recoveries of bad debts previously written off were credited to the allowance account.4. No year-end adjustments were made to the allowance account.The balance in Allowance for Doubtful Accounts was $184,000 at January 1, 2021. During 2021, credit sales totaled $9.4 million, interim entries for bad debt expense were based on 2.5% of credit sales, $95,000 of bad debts were written off, and recoveries of accounts previously written off amounted to $15,000. Campbell upgraded its computer facility in November 2021, and an aging of accounts receivable was prepared for the first time as at December 31, 2021. Campbell's usual credit terms were net 30 days and remain unchan…
07:39 Chau Pham launched a new business called Pham’s Maintenance Co. that began operations on June 1, 2021. The following transactions were completed by the company during the first month:June1Pham invested $175,000 in the business in exchange for common stock. 2Rented a furnished office and paid $7,500 cash for June's rent. 4Purchased $3,000 worth of equipment from Skyline Office equipment paying $1,000 cash with the balance being paid in 20 days. 6Paid $1,300 cash to advertise the grand opening of the business. 9Performed maintenance services for a customer and was immediately paid $1,000 in cash. 10Performed $8,500 of maintenance services for PDQ Company on credit. 12Paid $300 in cash to Hernandez Bookkeeping Services for work performed during June. 20Received $8,500 from PDQ Company for maintenance work done on June 10. 21Performed maintenance services totaling $650. The customer paid cash immediately. 22Performed $1,250 of ma…
01:07 Transactions for March 2020 that require assistance:1. On March 1, TREI's hauling van broke down. It was determined that it was too costly to repair, so TREI sold it to a salvage yard for $4,000 cash. The van was originally purchased in 2011 at a cost of $45,000 with an estimated 10-year useful life and a $5,000 salvage value. The van had been depreciated using the double declining balance method. The depreciation for the 2020 fiscal year has not yet been recorded. (Hint: you will need to update the depreciation before recording the sale.)2. March 1 - TREI immediately purchased a slightly used van for $60,000 cash. It is expected that the new van will have an 8-year useful life and a salvage value of $6,000. Similar to the old van, the new van will be depreciated using the double declining balance method and partial year's depreciation.3. March 6 - Sold forty confidential bins to Lau Enterprises for $8,000 on account with terms 2/10, n/30. The cost of the equipment to TREI was $5,4…
02:07 Martin-Pullin Bicycle CorporationMartin-Pullin Bicycle Corp. (MPBC), located in Dallas, is a wholesale distributor of bicycles and bicycle parts. Formed in 1981 by cousins Ray Martin and Jim Pullin, the company distributes a wide variety of bicycles. The primary model and major source of revenue for the company is the AirWing. MPBC receives all the models from a single manufacturer overseas, and shipment takes as long as four weeks from the time an order is placed. The retail outlets, which are located within a 400-mile radius of the distribution center, receive their orders from Martin-Pullin within two days after notifying the distribution center, provided that the stock is available. However, if an order is not fulfilled by the company, no backorder is placed, and retailers arrange to get their shipment from other distributors. MPBC loses that amount of business.MPBC estimates that each time an order is placed, it incurs the cost of $65. The purchase price paid by MPBC, per bic…
05:21 Transaction Analysis, Trial Balance, and Financial Statements On December 1, a group of individuals formed a corporation to establish the Humbolt News, a neighborhood newspaper featuring "Help wanted" ads by individuals and advertising by local firms. The free paper will be mailed to about 20,000 local residents; revenue will be generated from advertising and the want ads. The December transactions are summarized below:1 Sold common stock for cash, $\$ 65,000$.2 Paid December rent on furnished office, $\$ 5,000$.3 Purchased for $\$ 550$, on account, T-shirts displaying company logo. The T-shirts were distributed at a grand opening.4 Paid to creditor on account, $\$ 475$.5 Collected want ad revenue in cash, $\$ 2,800$.6 Paid post office for cost of bulk mailing, $\$ 810 .$7 Billed various firms for advertising in the first two issues of the newspaper, $\$ 6,300$.8 Paid Tucson Courier Service for transporting newspapers to the post office, $\$ 70$.9 Paid for printing newspaper,…

Step-by-step Solved, Expert Educator: would like help with the adjusting trials

NO COMMENTS YET

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (48)

Just now.

`+comment+`

`; var commentContainer = document.getElementById('qd-comment-container'); if (!commentContainer) { commentContainer = document.createElement('div'); commentContainer.id = "qd-comment-container"; commentContainer.className = 'qd-comment-container'; document.querySelector('.new-comment-container').parentElement.appendChild(commentContainer); } commentContainer.insertBefore(newComment, commentContainer.firstChild); var allComments = commentContainer.querySelectorAll('.qd-comment'); for (var i = 0; i < allComments.length; i++) { if (i < 3) { allComments[i].classList.remove('hide-5recommended'); } else { allComments[i].classList.add('hide-5recommended'); } } var moreCommentsButton = commentContainer.querySelectorAll('.hide-5recommended-button') if (moreCommentsButton.length == 0) { commentContainer.innerHTML += '

'; } if (allComments.length > 3) $('.hide-5recommended-button').css('display', 'block'); } function addNewReplyToUI(commentId, replyText) { let newReply = document.createElement('div'); newReply.className = 'qd-reply'; newReply.innerHTML = `

Just now.

`+replyText+`

`; var replyBody = document.getElementById('reply_body_'+commentId); var replyContainer = replyBody.querySelector("#qd-reply-container"); if (!replyContainer) { replyContainer = document.createElement('div'); replyContainer.id = "qd-reply-container"; } replyContainer.appendChild(newReply); } function createNewReply(event, commentId) { const newReplyInput = $('#newReply_'+commentId); const replyText = newReplyInput.val().trim(); newReplyInput.val(''); document.getElementById('comment_'+commentId).style.display = 'none'; url = "/ask/comment/"; addNewReplyToUI(commentId, replyText); $.ajax({ type: 'POST', url: url, data: { 'comment': replyText, 'question_id': 127874454, 'parent_id': commentId, 'csrfmiddlewaretoken': 'GW7zZmFpa7IflCzbpbHuScWqL8fiIwr8YBrOoUf6x6UM2EkYTDBXfd3yVimPiVm7', }, success: function (response) { console.log('Reply submitted:', response); }, error: function (error) { console.error('Error submitting:', error); } }); }; function hideAllReplyInputs() { var inputReplies = document.querySelectorAll('.input-reply'); for (var i = 0; i < inputReplies.length; i++) { inputReplies[i].querySelector("textarea").value = ''; inputReplies[i].style.display = 'none'; } } function openReplyInput(e, comment_id) { hideAllReplyInputs(); const replyCommentContainer = document.getElementById('comment_'+comment_id); replyCommentContainer.style.display = 'flex'; const replyCommentInput = $('#newReply_'+comment_id); if ((typeof replyCommentInput === 'undefined') || !replyCommentInput || !replyCommentInput.length) return; toggleSubmitIcon(replyCommentInput, submitReplyIcon); replyCommentInput.on('input', function () { limitTextareaLength(replyCommentInput); autoResizeTextarea(replyCommentInput); toggleSubmitIcon(replyCommentInput, submitReplyIcon); }); } submitCommentIcon.on('click', function () { if (!submitCommentIcon.hasClass('disabled')) { createNewComment(); } }); for (let i = 0; i < currentDBCommentIds.length; i++) { let comment_id = currentDBCommentIds[i]; let replyInput = document.getElementById('open_reply_input_'+comment_id); replyInput.addEventListener('click', function (e) { const commentId = e.currentTarget.id.split('_').pop(); openReplyInput(e, commentId); }); let submitReply = document.getElementById('submit_reply_'+comment_id); submitReply.addEventListener('click', function (e) { if (!submitReplyIcon.hasClass('disabled')) { const commentId = e.currentTarget.id.split('_').pop(); createNewReply(e, commentId); } }); } });

More Related Principles of Accounting Questions with Video Solutions

Want better grades, but can’t afford to pay for Numerade?

Ask your parent or guardian for help.


Enter your parent or guardian’s email address:

Already have an account? Log in

Add To Playlist

Hmmm, doesn't seem like you have any playlists. Please add your first playlist.

Create a New Playlist

`

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (49)

What our students say

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (50)
Adama Hogking

"Numerade is far more than just what we see. I mean it provides detailed explanation to a question with a written solution which is coupled with an audio clarification. I love this app. All I can do now is to give it a five stars."

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (51)
Yahtzee7k

"In school? You need Numerade. It has made my life SO much easier. I can’t say enough good things about this app. Love it, in a literal sense."

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (52)
mohammed ihsaan

"Really a wonderful, amazing and very useful app for the all types of students like engineering, science,etc .It provide more accurate answer and it give all the answers even no one websites can do. Really a useful thing to keep everyone."

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (53)

STEP 1 OF 3

97% of Numerade Students Report Better Grades

Create an account to get free access

Already have an account? Log In

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (54)

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (55)

Watch the video solution with this free unlock.

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (56)

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant but luckily, they have arranged for a fine accounting student to assist in the closing process. They have provided you with the unadjusted trial balance for DeeDee Double Entry Incorporated as of 12 / 31 / 23. The previous accountant recorded all original entries involving cash, etc. during the year. However, at year-end the previous accountant would make all necessary adjusting/reclassification journal entries so that the principles of US GAAP were followed. Your task will be to create and record all necessary adjusting, correcting, and reclassification entries so that 2023 financial statements in accordance with US GAAP can be issued. The below information was discovered by reviewing contracts, agreements, correspondence and discussions with management.Your required tasks are as follows:1. Read the below information and follow steps #2 through #92. On the "Adjusting Journal Entries" worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12 / 31 / 2023. (Round all numbers to the nearest dollar). Label journal entries a through 𝐫.a. DeeDee does banking at three different financial institutions. The details are as follows:Bank Account # Balance Coterica 123456 95,000 Coterica 123457 (5,000) 4th Bank 345689 90,000 Bank Two 397567 (5,000) b. When looking at the detailed customer accounts that total the current Accounts Receivable balance of $ 778,500, it is noted that two accounts totaling $ 12,000 have credit balances and these credits are being netted with the debits.1c. DeeDee properly wrote off uncollectible accounts during the year. Based on an aging schedule, they have determined that 6 % of Gross Accounts Receivable will not be collectible. (Be sure to do the necessary adjusting entry in (b) before applying the 6%) (57)

Log in to watch this video
...and 100,000,000 more!


OR

DeeDee Double Entry, Incorporated creates accounting games and literature to enhance accounting education and financial literacy. Their business has been quite successful since their incorporation in January 1, 2020. DeeDee recently lost their accountant (2024)
Top Articles
4Myhr Com Marriott
Cornell University hiring Student Service Center Assistant - Conference &amp; Events Services in Ithaca, New York, United States | LinkedIn
Cool Math Games Unblocked 76
Craigslist Ie Ca
CPCON Levels of Cyber Protection | Scan On Computer
Google rejected me 7 times before finally hiring me as a software engineer. Looking back, I'm deeply grateful for not giving up.
#BigTip: BigPicture tips and tricks – Gantt module
MLB playoffs 2024: MLB playoff picture, MLB postseason history and FAQ
Case Search - Minnesota Court Records Online (MCRO)
NBA Draft 2024 live updates
When Are Great Clips Salons Open? A Complete Guide to Great Clips Hours
After Halting Debate Performance, Biden Tries to Reassure Democrats at Rally
Latest Posts
Lonzo Ball at peace with injury, vows to play again: ‘It’s just part of life’
Ithaca Arts Events 2024: Latest Calendar & Tickets | Trip.com
Article information

Author: Golda Nolan II

Last Updated:

Views: 5832

Rating: 4.8 / 5 (78 voted)

Reviews: 85% of readers found this page helpful

Author information

Name: Golda Nolan II

Birthday: 1998-05-14

Address: Suite 369 9754 Roberts Pines, West Benitaburgh, NM 69180-7958

Phone: +522993866487

Job: Sales Executive

Hobby: Worldbuilding, Shopping, Quilting, Cooking, Homebrewing, Leather crafting, Pet

Introduction: My name is Golda Nolan II, I am a thoughtful, clever, cute, jolly, brave, powerful, splendid person who loves writing and wants to share my knowledge and understanding with you.