Question 1: Lab Insight: To evaluate the collectability of accounts receivable, companies analyze how long the receivables have been outstanding. Why? The longer the receivables go unpaid, the less likely they will ever be collected. Aging receivables helps the companys accountant determine the appropriate bad debts expense to record, and thus, improves the estimate for the allowance for doubtful accounts valuation.
In this lab, we group accounts receivable into 30-day buckets so accountants can quickly focus on the oldest accounts outstanding.
Required:
- Age the receivables in six 30-day buckets including 130 days, 3160 days, 6190 days, 91120 days, 121150 days, and 151180 days.
- Provide a detailed list of the receivables from the 6190 days bucket.
Ask the Question: How can we age receivables?
Master the Data: Open Excel File Lab 6-1 Data.xlsx.
Note that the data lists 200 receivables that are all past their due date.
Software needed
- Excel/Tableau/Power BI
- Screen capture tool (Windows: Snipping Tool; Mac: Cmd+Shift+4)
Data:
Perform the Analysis: Age the receivables and put them into their appropriate aged buckets.
Upload one Word or PDF document containing all of your screenshots for this Lab using the button below.
- Take a screenshot of your aged receivables, paste it into a Word document named “Alt Lab 6-1 SS.doc”, and label the screenshot Submission 1.
- Take a screenshot of your detailed receivables in the 6190 days aging bucket, paste it into your Word document named “Alt Lab 6-1 SS.doc”, and label the screenshot Submission 2.
Question 2
Lab Insight: To evaluate the collectability of accounts receivable, companies analyze how long the receivables have been outstanding. Why? The longer the receivables go unpaid, the less likely they will ever be collected. Aging receivables helps the companys accountant determine the appropriate bad debts expense to record, and thus, improves the estimate for the allowance for doubtful accounts valuation.
In this lab, we group accounts receivable into 30-day buckets so accountants can quickly focus on the oldest accounts outstanding.
Required:
- Age the receivables in six 30-day buckets including 130 days, 3160 days, 6190 days, 91120 days, 121150 days, and 151180 days.
- Provide a detailed list of the receivables from the 6190 days bucket.
Ask the Question: How can we age receivables?
Master the Data: Open Excel File Lab 6-1 Data.xlsx.
Note that the data lists 200 receivables that are all past their due date.
Software needed
- Excel/Tableau/Power BI
- Screen capture tool (Windows: Snipping Tool; Mac: Cmd+Shift+4)
Data:
Perform the Analysis: Age the receivables and put them into their appropriate aged buckets.
Answer the following questions based the details provided.
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