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Unformatted text preview: CHAPTER 7 CASH AND RECEIVABLES CONTENT ANALYSIS OF EXERCISES AND PROBLEMS Number Content Time 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 7-1 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 Number Content Time 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....
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This note was uploaded on 10/26/2010 for the course ACC 3023 taught by Professor Cole during the Spring '10 term at The University of Texas at San Antonio- San Antonio.
- Spring '10