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Ch 7 Answers to Int. Accounting Kieso

# Ch 7 Answers to Int. Accounting Kieso - CHAPTER 7 Cash and...

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CHAPTER 7 Cash and Receivables ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis 1. Accounting for cash. 1, 2, 3, 4, 21 1 1, 2 1 2. Accounting for accounts receivable, bad debts, other allowances. 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15 2, 3, 4, 5 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 2, 3, 4, 5, 6 1, 2, 3, 4, 5, 10, 11 3. Accounting for notes receivable. 14, 15 6, 7 18, 19 8, 9, 10 6, 7, 8, 9 4. Assignment and factoring of accounts receivable. 16, 17, 18, 19 8, 9, 10, 11, 12 12, 13, 14, 15, 16, 17, 21 7, 11, 12, 13 6, 8 5. Analysis of receivables. 20 13 20, 21 1 *6. Petty cash and bank reconciliations. 22 14, 15, 16 22, 23, 24, 25 12, 13, 14 *This material is covered in an Appendix to the chapter. 7-1

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ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives Bri ef Exerci ses Exerci ses Prob lems 1. Identify items considered as cash. 1 1, 2 2. Indicate how to report cash and related items. 1 3. Define receivables and identify the different types of receivables. 3, 4 6 4. Explain accounting issues related to recognition of accounts receivable. 2, 3, 4 3, 4, 5, 6, 12 6 5. Explain accounting issues related to valuation of accounts receivable. 5 7, 8, 9, 10, 11, 12 2, 3, 4, 5, 6 6. Explain accounting issues related to recognition of notes receivable. 6, 7, 8 18, 19 8, 9, 10 7. Explain accounting issues related to valuation of notes receivable. 18, 19 10 8. Explain accounting issues related to disposition of accounts and notes receivable. 9, 10, 11, 12 13, 14, 15, 16, 17, 21 7, 11 9. Describe how to report and analyze receivables. 13 20 11 *10. Explain common techniques employed to control cash. 14, 15, 16 22, 23, 24, 25 12, 13, 14 7-2
ASSIGNMENT CHARACTERISTICS TABLE 7-3

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It e m Description Level of Difficu lty Time (minut es) E 7- 1 Determining cash balance. Moder ate 10–15 E 7- 2 Determine cash balance. Moder ate 10–15 E 7- 3 Financial statement presentation of receivables. Simple 10–15 E 7- 4 Determine ending accounts receivable. Simple 10–15 E 7- 5 Record sales gross and net. Simple 15–20 E 7- 6 Recording sales transactions. Moder ate 5–10 E 7- 7 Recording bad debts. Moder ate 10–15 E 7- 8 Recording bad debts. Simple 5–10 E 7- 9 Computing bad debts and preparing journal entries. Simple 8–10 E 7- 10 Bad debt reporting. Simple 10–12 E 7- 11 Bad debts—aging. Simple 8–10 E 7- 12 Journalizing various receivable transactions. Simple 15–20 E 7- 13 Assigning accounts receivable. Simple 10–15 E 7- 14 Journalizing various receivable transactions. Simple 15–18 7-4
E 7- 15 Transfer of receivables with recourse. Simple 10–15 E 7- 16 Transfer of receivables with recourse. Moder ate 15–20 E 7- 17 Transfer of receivables without recourse. Simple 10–15 E 7- 18 Notes transactions at unrealistic interest rates. Simple 10–15 E 7- 19 Notes receivable with unrealistic interest rate. Moder ate 20–25 E 7- 20 Analysis of receivables. Moder ate 10–15 E 7- 21 Transfer of receivables. Moder ate 10–15 *E7-22 Petty cash. Simple 5–10 *E7-23 Petty cash. Simple 10–15 *E7-24 Bank reconciliation and adjusting entries. Moder ate 15–20 *E7-25 Bank reconciliation and adjusting entries. Simple 15–20 P7-1 Determine proper cash balance. Simple 20–25 P7-2 Bad debt reporting. Moder ate 20–25 P7-3 Bad debt reporting—aging.

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