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Posted: November 28th, 2022
Financial Analysis
Financial Analysis Using Spreadsheets Page 1 of 1
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32 Case 6
The Ohio Diamonds, LLC has the following accounts receivable and collectible account estimates on. January 31, 2018.
Percent Uncollectible Accounts Receiva.ble Not yet due 2% 3 438,933.00 1-30 days past due 5% 149,614.00 31-60 days past due 15% 106,400.00 60-90 days past due 25% 57,442.00 Over 90 days past due 50% 41,402.00
In addition to the totals listed above, Ohio Diamonds, LLC has the following individual accounts receivable and due dates to include in the analysis; W. Hayes January 15, 2018 S 10,97740 C. McCoy February 15, 2018 9,314.00 J. Masterson December 20, 2017 8,664.00 K. hviog October 1, 2017 780.00 J.Thomas January 4,201a 14,810.00 C. Spielman November 15, 2017 6,316.00 S. Choo March 1, 2018 4,389.00 *Numbers/Narnes/Analys.is are fictional and for example only
On January 1, 2018 the beginning balance in Accounts Receivable was $446,341, debit, and the balance in Allowance for Uncollectible Accounts was $43,000, credit. During January the store had sales on account totaling $3,724,000, sales returns and allowances of $63,000, bad debt write-offs $44,300, and collections on account of 13,214,000. 1. See Examples that follow for format and hints. Name your three worksheets Analysis, Accounting, and Chart. 2. Prepare art aging analysis of the accounts receivable. 3. On a separate worksheet; – Record the above January transactions directly into Accounts Receivable and Allowance for UncollectIle Accounts – Prepare the journal entry to bring the allowance account up to date based on the accounts receivable aging analysis
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Analysis of the Financial Situation
Spreadsheets for Financial Analysis Page one of one
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Case No. 32
The accounts receivable and collectible account estimations for Ohio Diamonds, LLC are as follows. 31st of January, 2018.
Accounts Receivable Uncollectible Percentage It is not yet due. 2 percentage points 3 438,933.00 dollars 1 to 30 days overdue 5% of total 149,614.00 31-60 days past the due date 106,400.00 is 15% of a total of 106,400.00. It’s been 60-90 days since you’ve made a payment. 25% of the total 57,442.00 Past due for more than 90 days fifty percent 41,402.00
Ohio Diamonds, LLC has the following specific accounts receivable and due dates to consider in the analysis, in addition to the totals stated above: S 10,97740 W. Hayes January 15, 2018
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