acc201wa3aexcel - Student Name: Class: Problem 05-02...

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Student Name: Class: Problem 05-02 Requirement 1: 2011 Cost recovery %: = Gross profit % = 2012 Cost recovery %: = Gross profit % = 2011 Gross Profit: Cash col ection from 2011 sales = X = 2012 Gross Profit: Cash col ection from 2011 sales = X = Cash col ection from 2012 sales = X = Total 2012 gross profit Requirement 2: Date Account Debit Credit 2011 To record installment sales Instal ment receivables Inventory Deferred gross profit 2011 To record cash collections from installment sales Cash Instal ment receivables 2011 To recognize gross profit from installment sales Deferred gross profit Realized gross profit 2012 To record installment sales Instal ment receivables Inventory Deferred gross profit 2012 To record cash collections from installment sales Cash Instal ment receivables 2012 To recognize gross profit from installment sales Deferred gross profit Realized gross profit Requirement 3: Date Cash Collected Cost Recovery Gross Profit 2011 2011 sales 2012 2011 sales 2012 sales 2012 totals Date Account Debit Credit 2011 To record installment sales Instal ment receivables Inventory Deferred gross profit 2011 To record cash collections from installment sales Cash Instal ment receivables 2012 To record installment sales Instal ment receivables Inventory Deferred gross profit 2012 To record cash collections from installment sales Cash Instal ment receivables 2012 To recognize gross profit from installment sales Deferred gross profit Realized gross profit
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AJAX COMPANY Installment Sales 2011 2012 Sales
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acc201wa3aexcel - Student Name: Class: Problem 05-02...

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