Solutions_-_Exercises_-_Unit_4 - Financial Accounting I...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Financial Accounting I Grado Administracion de Empresa Exercises
Image of page 1

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

View Full Document Right Arrow Icon
Chapter 4. Accounts receivable. Basic issues Exercise 4.1: Analysing disclosures of accounts receivable Celulose Company, a Brazilian pulp manufacturer, applies the allowance method and reports its results in thousand of U. S. dollars. For the year ended December 31, 2007 and 2006, Celulose the following information pertaining to accounts receivable: At December 31, 2005, the Allowance for Doubtful Accounts had a balance of $4,067. a. What method has used the company to account for its bad debts? Advantages and disadvantages of this method. b. What is the carrying value of accounts receivable on Celulose´s Balance Sheet for the years ended December 31, 2007 and December 31, 2006? c. What is the total amount that customers owe Celulose as of December 31, 2007, and December, 31 2006? d. What journal entries did Celulose make in 2007 and 2006 to recognize Bad Debt Expense? Solution to exercise 4.1 (Celulose company; analyzing changes in accounts receivable.) (Amounts in Thousands) a.
Image of page 2
Image of page 3
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