Chap008

Fundamentals of Financial Accounting with Annual Report

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Unformatted text preview: Chapter 08 - Reporting and Interpreting Receivables, Bad Debt Expense, and Interest Revenue CHAPTER 8 REPORTING AND INTERPRETING RECEIVABLES, BAD DEBT EXPENSE, AND INTEREST REVENUE Student Learning Objectives and Related Assignment Materials Student Learning Objectives Mini- Exercises Exercises Coached Problems Problems (Groups A & B) Skills Development Cases Multi- chapter Material 1. Describe the trade-offs of extending credit. 1, 2 3, 6 2. Estimate and report the effects of uncollectible accounts. 3, 4, 5, 6, 7, 8, 9, 13 1, 2, 3, 4, 5, 6, 7, 8, 9, 13, 14, 15, 17 1, 2, 4 A1, A2, A4, B1, B2, B4 1, 2, 3, 4, 5, 7 C8-1 + CC8*† 3. Compute and report interest on notes receivable. 10, 11, 12, 13 10, 11, 12 3, 4 A3, A4, B3, B4 4 4. Compute and interpret the receivables turnover ratio. 14, 15 13, 15, 16, 17 5 A5, B5 1, 2, 3, 6 CC8*† Supplement 8A: Direct Write-Off Method 16 18 * Animated solution included in the PowerPoint Slides. + C8-1 is a comprehensive problem that also incorporates topics from Chapter 6 (LO6 – merchandise sales). † CC8 is a continuing case that builds on the story of Nicole’s Getaway Spa, introduced in earlier chapters. This case focuses on analyzing transactions and preparing journal entries. This case will be extended in future chapters. Overview The challenging job of monitoring and managing receivables, especially during difficult economic times, is explained. Students learn how to estimate and report the effects of uncollectible accounts, charge interest on outstanding balances, evaluate accounts receivable collection performance. Chapter supplement A illustrates the non-GAAP direct write-off method. 8-1 Chapter 08 - Reporting and Interpreting Receivables, Bad Debt Expense, and Interest Revenue Synopsis of Chapter Revisions • New Spotlight on Business Decisions depicting the significance of bad debts to Target’s decision to grant credit to individual consumers during difficult economic times • Moved percentage of sales from chapter supplement to body of chapter • New Spotlights on using an aging schedule to focus collection efforts and on comparing stated credit terms to turnover analyses • New video to support Spotlight discussing a credit manager’s accounting fraud at MCI • Four new questions, four new mini-exercises, three new problems, and three new cases • One new comprehensive problem • One new continuing case PowerPoint Slides Student Learning Objective PowerPoint® Slides 1. Describe the trade-offs of extending credit. 8-1 through 8-3 2. Estimate and report the effects of uncollectible accounts. 8-4 through 8-23 3. Compute and report interest on notes receivable. 8-24 through 8-33 4. Compute and interpret the receivables turnover ratio. 8-34 through 8-38 Supplement 8A: Direct Write-Off Method 8-39 through 8-41 Animated Builds and Animated Solutions PowerPoint® Slides Exhibit 8.2 – Recording and Reporting Estimated Bad Debts 8-5 Mini-Exercise 8-10 8-42 Exercise 8-7 8-43 through 8-44 Exercise 8-8...
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Chap008 - Chapter 08 Reporting and Interpreting Receivables...

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