This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: 7-1 CHAPTER 7 CASH AND RECEIVABLES CONTENT ANALYSIS OF EXERCISES AND PROBLEMSNumberContentTime Range (minutes)E7-1 Cash. (Easy) Determination of items to be included as cash on the balance sheet. 5-10 E7-2 Cash Balance. (Easy) Computing amount to be reported on balance sheet. Treatment of non-cash items. 5-10 E7-3 Classification of Receivables. (Easy) Journal entry to properly record receivables. Balance sheet disclosure. 5-10 E7-4 Sales Discounts. (Moderate) Journal entries to record the sale, collection, and year-end adjustment under the gross price and net price methods. 10-15 E7-5 Discount Methods. (Moderate) Comparison of gross price and net price methods. Journal entries. 10-15 E7-6 Returns and Allowances. (Moderate) Record as actual, record as estimate. Journal entries, financial statement disclosure. 10-15 E7-7 Bad Debts. (Easy) Estimation versus direct write-off. Journal entries. 10-15 E7-8 Bad Debts. (Moderate) Estimating from receivable balances. Journal entries. Balance sheet disclosure. Computation of receivables turnover. IFRS disclosure. 10-20 E7-9 Aging Analysis. (Moderate) Estimation of uncollectible receivables. Journal entries with various balances in the allowance account. 10-20 E7-10 Bad Debts. (Easy) Comparison of different estimation methods. Journal entries for estimates based on total sales, credit sales, and accounts receivable. 10-20 E7-11 (AICPA adapted). (Easy) Receivables-Bad Debts. Percentage of net sales method. Schedule computing balance in the allowance account. 10-20 E7-12 Assigning Accounts Receivable. (Moderate) Sales return, collections, repayment. Journal entries. Balance sheet disclosure. 15-20 7-2 NumberContentTime Range (minutes)E7-13 Factoring Accounts Receivable. (Moderate) Sales returns and allowances on factored accounts. Journal entries. 10-15 E7-14 (AICPA adapted). Factoring and Assigning Accounts Receivable. (Moderate) Income statement disclosure. 15-20 E7-15 Notes Receivable. (Easy) Interest-bearing, noninterest-bearing. Journal entries. 10-15 E7-16 Notes Receivable Discounted. (Moderate) Interest-bearing, noninterest-bearing. Determination of proceeds. 10-20 E7-17 Notes Receivable Discounted. (Moderate) Journal entries for issuance, discounting, default. 10-20 E7-18 (Appendix). Petty Cash. (Easy) Journal entries to record establishment, expenses, and replenishment. 5-10 E7-19 (Appendix). Unknown Cash Balance. (Moderate) Determine cash balance and adjusted cash balance through use of bank reconciliation. Journal entries to update cash account balance. 5-15 E7-20 (Appendix). Bank Reconciliation. (Easy) Prepare reconciliation from account balances. Record journal entries to adjust the books. 10-15 E7-21 (Appendix). Bank Reconciliation. (Moderate) Prepare reconciliation from various transactions. Record journal entries to adjust the books....
View Full Document
This note was uploaded on 11/28/2009 for the course ACC 201 taught by Professor Blake during the Fall '09 term at Midlands Tech.
- Fall '09
- Balance Sheet