{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

510chapter7fall2009after10272009

510chapter7fall2009after10272009 - Chapter 7 Cash and...

Info icon This preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 7: Cash and Chapter 7: Cash and Receivables Receivables    
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
What’s Important What is cash and how is it reported? Recognition of accounts receivable Valuation of accounts receivable Recognition of notes receivable Valuation of notes receivable Disposition of notes/accounts receivable Reconciliation of bank balances
Image of page 2
Most liquid asset Standard medium of exchange  Basis for measuring and accounting for all items Current asset Examples :  coin, currency, available funds on deposit at the  bank, money orders, certified checks, cashier’s checks, personal  checks, bank drafts and savings accounts. What is Cash? Cash
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Deposits (CDs) and short term paper are classified  as  temporary investments Post dated checks, money market funds, bank  overdrafts, travel advances and stamps on hand  are not classified as cash What is not “Cash” What is not “Cash”
Image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern