UCB+UGBA102A+Topic05+Slides - Cash, Receivables &...

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UGBA102A Introduction to Financial Accounting
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UGBA102A Dennis Geyer 2 Current Accounts Current Assets Current Assets ST Investments Accounts receivable Notes receivable Inventories Prepaid expenses Other current assets Current Liabilities Current Liabilities Accounts payable ST Notes payable Accrued liabilities Dividends payable Current portion of LT debt Unearned revenues Other current liabilities
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UGBA102A Dennis Geyer 3 January 28, 2005 January 30, 2004 Current assets: 4,747 $ 4,317 $ Short-term investments 5,060 835 Accounts receivable, net 4,414 3,635 Inventories 459 327 Other 2,217 1,519 Total current assets 16,897 10,633 1,691 1,517 Investments 4,319 6,770 Other non-current assets 308 391 Total assets 23,215 $ 19,311 $ Current liabilities: Accounts payable 8,895 $ 7,316 $ 5,241 3,580 Total current liabilities 14,136 10,896 Long-term debt 505 505 Other non-current liabilities 2,089 1,630 Total liabilities 16,730 13,031 DELL, INC. CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (in millions)
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UGBA102A Dennis Geyer 4 Cash includes any items accepted by a bank for immediate deposit. This includes: demand certificates of deposit (due within 90 days)
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UGBA102A Dennis Geyer 5 Objectives of Cash Management Account for all cash transactions accurately Have enough available cash to pay bills Avoid excessive amounts of cash Prevent losses of cash
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UGBA102A Dennis Geyer 6 Bank Reconciliation Cash Account Cash Account Ending Balance + Bank Receipts - Bank Charges = Corrected Balance Bank Statement Bank Statement Ending Balance + Deposits in Transit - Checks Outstanding = Corrected Balance
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UGBA102A Dennis Geyer 7 Petty Cash Funds Petty Cash Account To establish the fund May 1 Petty Cash 500.00 $ Cash 500.00 $ To replenish the fund May 30 Advances to employees 200.00 $ Parking tickets 95.00 $ Bicycly pump 49.95 $ Miscellaneous supplies 36.55 $ Postage 20.00 $ Petty Cash 401.50 $ May 30 Petty Cash 401.50 $ Cash 401.50 $
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UGBA102A Dennis Geyer 8 Uncollectible Accounts Two approaches may be used for measuring losses due to uncollectible accounts. Direct Write-Off Method
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UCB+UGBA102A+Topic05+Slides - Cash, Receivables &...

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