ACIT 3141 Lab Final Exam

Situation:
As accountant for Gundam, Inc, the following aging for ACCOUNTS RECEIVABLE has been presented to you for

Customer ID Name City Category 1-30 Days

1 Signe Bolz Grand Rapids Representative 3,600
2 Lurline Klingman Savannah Representative 2,800
3 Nikole Coltharp Palmdale Representative 1,600
4 Zina Squillante Clearwater Individual 2,800
5 Katelyn Zabala Rochester Representative 2,340
6 Josef Zahn Kansas City Individual 3,700
7 Hollie Krom Irvine Representative 2,800
8 Barrie Chalker Tallahassee Representative 2,340
9 Kazuko Wardwell Miami Individual 780
10 Jarod Gamblin Des Moines Individual 700
11 Eleonore Waldeck Anchorage Individual 1,520
12 Blanch Preuss Elizabeth Representative 3,040
13 Shawna Masiello Columbia Individual 3,700
14 Elbert Vath Oxnard Representative 2,800
15 Kristyn Ordaz Abilene Representative 1,440
16 Leon Teaster Berkeley Individual 1,080
17 Cari Barhorst Dayton Individual 3,800
18 Bryant Erikson Corona Individual 2,800
19 Alvera Llamas Oakland Individual 800
20 Allegra Battin Atlanta Individual 3,800
21 Nikita Bissonette Toledo Individual 1,110
22 Jama Olivieri Provo Representative 2,450
23 Marna Brenes Tulsa Representative 3,510
24 Jeromy Mizelle Glendale Individual 3,600
25 Vonnie Doctor Spokane Individual 1,480
26 Yoshiko Foerster Arlington Individual 2,880
27 Raguel Hurtt New Haven Representative 1,110
28 Curt Kamp Fort Wayne Individual 2,520
29 Harry Denbow Tempe Individual 3,200
30 Deetta Uphoff Reno Representative 3,510
31 Johana Strait Akron Representative 2,220
32 Winnie Buckalew Peoria Representative 2,160
33 Jessenia Kennett Allentown Individual 3,150
34 Inge Guerrant Concord Individual 1,750
35 Bradley Clairmont Cincinnati Representative 1,140
36 Rita Winfrey West Jordan Individual 3,200
37 Leann Mccarley Salinas Individual 1,140
38 Nicole Trapani Garland Individual 350
39 Lashonda Magruder Fayetteville Individual 3,900
40 Latisha Preslar Davenport Individual 1,400
41 Alida Klima Sioux Falls Representative 2,000
42 Gladys Woodburn Pasadena Representative 740
43 Marg Sobers Scottsdale Representative 760
44 Will Peterkin Eugene Representative 1,200
45 Danyell Handel New Orleans Individual 1,750
46 Babette Albarran Elk Grove Individual 2,660
47 Luther Luckow Columbus Representative 3,120
48 Melvin Spafford Henderson Individual 1,140
49 Peter Nally Louisville Representative 2,590
50 Cheree Olmedo Corpus Christi Representative 390

The CEO of the company asks you to consider the following questions in relation to your report:

1 How much of the accounts receivable are aged in the following:

Amount Percentage to Total

1-30 Days
31-60 Days
61-90 Days
91-180 Days
181+ Days

2 Present a pie graph to represent the percentage to total of accounts receivable. Which category has the highe

3 Per policy, the company renders transactions unsettled after 60 days overdue. How much of the total account

4 In relation to the accounts receivable table, per company policy, the company needs to provide an allowance

1-30 Days 0%
 31-60 Days 0%
61-90 Days 10%
91-180 Days 15%
181+ Days 25%

The company has not yet set up allowance for doubtful accounts. Provide the entry to recognize allowance be

5 The Credit Department recently approved an increase of credit line to the following customers:

Lurline Klingman  
Nikole Coltharp  
Winnie Buckalew  
Alida Klima  
Blanch Preuss  
Signe Bolz  
Will Peterkin  
Yoshiko Foerster  

Using VLOOKUP, in a separate sheet named "Special Customers", indicate their addresses, categories and tota
has been presented to you for the purposes of report generation:

31-60 Days 61-90 Days 91-180 Days 181+ Days Total

2,500 1,700 500 1,700 10,000
2,400 1,440 480 880 8,000
1,360 640 40 360 4,000
2,310 1,190 490 210 7,000
1,380 660 480 1,140 6,000
2,600 1,400 400 1,900 10,000
2,320 1,440 640 800 8,000
1,320 1,140 540 660 6,000
600 240 40 340 2,000
660 380 60 200 2,000
1,200 560 200 520 4,000
2,720 800 240 1,200 8,000
3,300 1,700 900 400 10,000
1,760 1,120 400 1,920 8,000
1,320 400 120 720 4,000
810 540 90 480 3,000
2,700 1,000 1,000 1,500 10,000
1,960 1,400 210 630 7,000
580 380 20 220 2,000
3,200 1,700 900 400 10,000
690 600 60 540 3,000
1,540 1,400 280 1,330 7,000
1,890 1,440 810 1,350 9,000
1,800 1,350 900 1,350 9,000
1,080 440 360 640 4,000
2,080 1,280 800 960 8,000
630 450 150 660 3,000
1,750 910 350 1,470 7,000
2,480 1,360 560 400 8,000
2,160 1,350 90 1,890 9,000
1,980 840 360 600 6,000
1,380 660 360 1,440 6,000
2,880 1,350 360 1,260 9,000
1,200 650 50 1,350 5,000
900 540 30 390 3,000
2,800 1,040 800 160 8,000
840 570 120 330 3,000
300 170 30 150 1,000
2,800 1,200 400 1,700 10,000
 1,040 520 80 960 4,000
1,700 750 250 300 5,000
660 260 200 140 2,000
500 320 160 260 2,000
840 390 30 540 3,000
1,050 1,000 300 900 5,000
2,030 700 210 1,400 7,000
2,160 1,600 320 800 8,000
960 330 300 270 3,000
1,820 700 420 1,470 7,000
220 120 30 240 1,000

n to your report:

Which category has the highest percentage?

How much of the total accounts receivable are overdue corporate representative accounts?

eeds to provide an allowance for doubtful accounts. The company policy states the following:
ntry to recognize allowance below.

wing customers:

addresses, categories and total accounts receivable.