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CH19 - CHAPTER 19 Revenue Recognition ASSIGNMENT...

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CHAPTER 19 Revenue Recognition ASSIGNMENT CLASSIFICATION TABLE Topics Questions Brief Exercises Exercises Problems Cases * 1. Realization and recog- nition; sales transactions; high rates of return. 1, 2, 3, 4, 5, 6, 22 1 1, 2, 3 1 1, 2, 3, 4, 5, 7 * 2. Long-term contracts. 7, 8, 9, 10, 11, 12 2, 3, 4, 5, 6 4, 5, 6, 7, 8, 9, 10 1, 2, 3, 4, 5, 6, 7, 14, 16, 17 1, 6 * 3. Installment sales. 13, 14, 15, 16, 17, 18, 19, 20, 21 7, 8, 9 11, 12, 13 1, 8, 9, 10, 11, 12, 15 1 * 4. Repossessions on installment sales. 8 13, 18, 19 10, 11, 12, 13, 15 * 5. Cost recovery method; deposit method. 13, 23, 24 10 16, 17, 20 *6. Franchising. 25, 26, 27, 28 11 21, 22 8 *7. Consignments. 29 12 23 *This material is dealt with in an Appendix to the chapter. 19-1
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ASSIGNMENT CHARACTERISTICS TABLE Item Description Level of Difficulty Time (minutes) E19-1 Revenue recognition on book sales with high returns. Moderate 15-20 E19-2 Sales recorded both gross and net. Simple 15-20 E19-3 Revenue recognition on marina sales with discounts. Moderate 10-15 E19-4 Analysis of percentage-of-completion financial statements. Moderate 20-25 E19-5 Gross profit on uncompleted contract. Simple 10-15 E19-6 Recognition of profit, percentage-of-completion. Moderate 10-12 E19-7 Recognition of revenue on long-term contract and entries. Moderate 25-30 E19-8 Recognition of profit and balance sheet amounts for long- term contracts. Simple 15-20 E19-9 Long-term contract reporting. Simple 15-25 E19-10 Analysis of installment sales accounts. Moderate 15-25 E19-11 Gross profit calculations and repossessed merchandise. Moderate 15-20 E19-12 Interest revenue from installment sale. Simple 15-20 E19-13 Installment method and cost recovery method. Simple 15-20 E19-14 Cost recovery method. Simple 10-15 E19-15 Installment sales—default and repossession. Simple 10-15 E19-16 Installment sales—default and repossession. Simple 15-20 E19-17 Cost recovery method. Moderate 15-20 * E19-18 Installment sales—default and repossession. Simple 10-15 * E19-19 Installment sales—default and repossession. Simple 15-20 * E19-20 Cost recovery method. Simple 15-25 *E19-21 Franchise entries. Simple 14-18 *E19-22 Franchise fee, initial down payment. Simple 12-16 *E19-23 Consignment computations. Simple 15-20 P19-1 Comprehensive three-part revenue recognition. Moderate 30-45 P19-2 Recognition of profit on long-term contract. Simple 20-25 P19-3 Recognition of profit and entries, percentage-of-completion. Moderate 25-35 P19-4 Recognition of profit and balance sheet presentation, percentage-of-completion. Moderate 20-30 P19-5 Long-term contracts, three profitable and two losses. Moderate 25-30 P19-6 Long-term contract with interim loss. Moderate 20-25 P19-7 Long-term contract with an overall loss. Moderate 20-25 P19-8 Installment sales computations and entries. Moderate 25-30 P19-9 Installment sales income statements. Moderate 30-35 P19-10 Installment sales computations and entries. Complex 30-40 P19-11 Installment sales entries. Simple 20-25 P19-12 Installment sales computations and entries. Complex 40-50 P19-13 Installment repossession entries. Moderate 20-25 P19-14 Installment sales computations and schedules. Complex 50-60 P19-15 Completed-contract method. Moderate 20-30 P19-16 Revenue recognition methods—comparison. Complex 40-50 P19-17 Comprehensive problem—long-term contracts.
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