Review Sheet for Exam _3_ 2 parts

Review Sheet for Exam _3_ 2 parts - Review Sheet for Exam...

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Review Sheet for Exam #3 Chapters 7-9 Accounting 3111 Professor Koehn Chapter 7 Theory What items are reported as cash? Which are not? How are restriceted cash and cash overdrafts reported? What is meant by the term cash equivalent? Illustration 7-2 Trade and Accts. Receivable versus Nontrade Receivables Trade and Cash Discounts (know how to calculate the annual equivalent interest rate)- p. 320 Gross and Net Method of recording receivables (p.321) Nonrecognition of interest elements discussion (materiality) – p. 321 Direct write off method (why non-GAAP?) Allowance Method [% of Sales, % of Receivables (also aging approach)] Review handout on bad debts from class Which is I/S approach and which is B/S approach? Zero Interest Bearing notes – Review problem on p. 328 Secured borrowing- p.333 Sale of receivables (with and without recourse) Bank Reconciliations (p.342-345) Chapter 8 Theory Perpetual versus periodic (all methods) Who includes goods in transit and consigned goods in inventory? Shipping terms and implications
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This note was uploaded on 06/08/2010 for the course BUSINESS 3502 taught by Professor Drjo during the Spring '10 term at UCM.

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Review Sheet for Exam _3_ 2 parts - Review Sheet for Exam...

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