ch07 - CHAPTER 7 Revenue Recognition ASSIGNMENT...

This preview shows pages 1–4. Sign up to view the full content.

CHAPTER 7 Revenue Recognition ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems * 1. Realization and recognition; sales transactions, high rates of return. 1, 2, 3, 4, 1 1 * 2. Long-term contracts. 5, 6, 7, 8, 9 2, 3, 4 1, 2, 3, 4, 5, 6 1, 2, 3, 4, 5, 8, 9, 10 * 3. Installment sales. 10, 11, 12, 14, 15 5, 6 7, 8, 9 1, 6, 7 * 4. Cost recovery, deposit methods. 11, 12, 13, 16, 17 7 8, 9, 10 *5. Entries for long-term contracts. 18 8, 9 11, 13 11 *6. Entries for installment sales. 10 12, 14, 15 12, 13, 14 *This material is dealt with in the Appendix to the chapter. © 2008 For Instructor Use Only 7-1

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

View Full Document
ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives Brief Exercises Exercises Problems * 1. Apply the revenue recognition principle. 1, 2, 3, 4, 5, 6, 7 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 1, 2, 3, 4, 5, 6, 7, 8, 9 * 2. Describe accounting issues involved with revenue recognition at point of sale. 1, 2 13, 14, 15 1, 10 * 3. Apply the percentage-of-completion method for long-term contracts. 2, 4 1, 2, 3, 4, 5, 13 1, 2, 3, 4, 5, 9, 10 * 4. Apply the completed-contract method for long-term contracts. 3, 4 1, 4, 5, 6 1, 2, 5, 8, 9, 10 5. Describe the installment-sales and cost-recovery methods of accounting. 5, 6, 7 6, 7, 8, 9, 10, 14, 15 1, 6, 7 *6. Prepare the journal entries to record long-term contracts. 8, 9 11, 13 11 *7 Prepare the journal entries to record installment sales. 10 12, 14, 15 12, 13, 14 *This material is discussed in the Appendix to the chapter. © 2008 For Instructor Use Only 7-2
ASSIGNMENT CHARACTERISTICS TABLE Item Description Level of Difficulty Time (minutes) E7-1 Recognition of profit on long-term contracts. Moderate 20–25 E7-2 Gross profit on uncompleted contract. Moderate 10–12 E7-3 Recognition of profit, percentage-of-completion. Moderate 10–12 E7-4 Recognition of revenue on long-term contract. Moderate 15–20 E7-5 Recognition of profit for long-term contracts. Simple 15–20 E7-6 Long-term contract reporting. Simple 15–25 E7-7 Installment-sales method calculations. Moderate 15–20 E7-8 Installment-sales and cost-recovery methods. Simple 10–15 E7-9 Installment-sales method and cost-recovery method. Simple 15–20 E7-10 Cost-recovery method. Simple 15–20 *E7-11 Entries for long-term contracts. Moderate 15–20 *E7-12 Entries for installment sales. Simple 15–20 *E7-13 Analysis of percentage-of-completion financial statements. Moderate 10–15 *E7-14 Gross profit calculations and repossessed merchandise. Moderate 15–20 *E7-15 Interest revenue from installment sale. Moderate 10–15 P7-1 Comprehensive two-part revenue recognition. Moderate 30–45 P7-2 Recognition of profit on long-term contract. Simple 20–25 P7-3 Recognition of profit on long-term contract. Moderate 25–35 P7-4 Recognition of profit percentage-of-completion. Moderate 20–30 P7-5 Long-term Contract with an overall loss. Moderate 20–25 P7-6 Installment-sales computations. Moderate

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

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/09/2010 for the course BUS 101 taught by Professor Noname during the Spring '10 term at KCTCS.

Page1 / 62

ch07 - CHAPTER 7 Revenue Recognition ASSIGNMENT...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online