KISV_SM_CH18COMPLETE

# KISV_SM_CH18COMPLETE - 18-1 CHAPTER 18 Revenue Recognition...

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

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

View Full Document

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.

Unformatted text preview: 18-1 CHAPTER 18 Revenue Recognition ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis *1. Realization and recognition; sales transactions; high rates of return. 1, 2, 3, 4, 5, 6, 22 1 1, 2, 3 1 1, 2, 3, 4, 5, 7, 8, 9 *2. Long-term contracts. 7, 8, 9, 10, 11, 12, 22 2, 3, 4, 5, 6 4, 5, 6, 7, 8, 9, 10 1, 2, 3, 4, 5, 6, 7, 14, 15, 16, 17 1, 2, 3, 6 *3. Installment sales. 13, 14, 15, 16, 17, 18, 19, 20, 21, 22 7, 8, 9 11, 12, 13, 14, 17, 18 1, 10, 11, 12, 13, 14, 16 1, 2, 3 *4. Repossessions on installment sales. 9 12, 15, 16 13, 14, 15, 16, 17 *5. Cost-recovery method; deposit method. 13, 22, 23, 24 10 17, 18 8, 9 *6. Franchising. 22, 25, 26, 27, 28 12 20, 21 10 *7. Consignments. 29 11 19 *This material is dealt with in an Appendix to the chapter. 18-2 ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives Brief Exercises Exercises Problems 1. Apply the revenue recognition principle. 1 1, 2, 3 2. Describe accounting issues for revenue recognition at point of sale. 1 1, 2, 3 1 3. Apply the percentage-of-completion method for long-term contracts. 2, 3 4, 5, 6, 7, 8, 9 1, 2, 3, 4, 5, 6, 7, 16, 17 4. Apply the completed-contract method for long-term contracts. 4, 5 7, 8, 9, 10 1, 3, 4, 5, 6, 7, 8, 9, 10 5. Identify the proper accounting for losses on long-term contracts. 6 10 7, 8, 9, 10 6. Describe the installment-sales method of accounting. 7, 8, 9 11, 12, 13, 14, 15, 16, 17, 18 1, 11, 12, 13, 14, 15, 16, 17 7. Explain the cost-recovery method of accounting. 10 17, 18 *8. Explain revenue recognition for franchises and consignment sales. 11, 12 19, 20, 21 18-3 ASSIGNMENT CHARACTERISTICS TABLE Item Description Level of Difficulty Time (minutes)E18-1 Sales recorded both gross and net. Simple 15–20 E18-2 Revenue recognition on marina sales with discounts. Moderate 10–15 E18-3 Revenue recognition on book sales with high returns. Moderate 15–20 E18-4 Recognition of profit, percentage-of-completion. Moderate 10–12 E18-5 Gross profit on uncompleted contract. Simple 10–15 E18-6 Analysis of percentage-of-completion financial statements. Moderate 20–25 E18-7 Recognition of profit on long-term contracts. Moderate 20–25 E18-8 Recognition of profit and balance sheet amounts for long-term contracts. Simple 15–20 E18-9 Recognition of revenue on long-term contract and entries. Moderate 25–30 E18-10 Long-term contract reporting. Simple 15–25 E18-11 Interest revenue from installment sale. Simple 15–20 E18-12 Gross profit calculations and repossessed merchandise. Moderate 15–20 E18-13 Analysis of installment sales accounts. Moderate 15–25 E18-14 Installment-sales method, calculations, entries. Simple 15–20 *E18-15 Installment-sales—default and repossession. Simple 15–20 *E18-16 Installment-sales—default and repossession. Simple 10–15 E18-17 Installment-sales method and cost-recovery method. Simple 15–20 E18-18 Installment-sales method and cost-recovery method. Installment-sales method and cost-recovery method....
View Full Document

## This note was uploaded on 04/18/2010 for the course FINANCE 9671048 taught by Professor Kuo during the Spring '10 term at Nashville State Community College.

### Page1 / 91

KISV_SM_CH18COMPLETE - 18-1 CHAPTER 18 Revenue Recognition...

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

View Full Document
Ask a homework question - tutors are online