Exam2 - Flashcards(3) - Unrealized Gain Build up value of...

Info iconThis preview shows pages 1–23. Sign up to view the full content.

View Full Document Right Arrow Icon
Electronic Funds Transfer (EFT) Bank Statement
Background image of page 1

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

View Full DocumentRight Arrow Icon
Reports what the bank did with the customer’s cash. Moves cash by electronic communication.
Background image of page 2
Bank Reconciliation Bank Reconciliation
Background image of page 3

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

View Full DocumentRight Arrow Icon
Created from updating your cash records. Explains all differences between your cash records and your bank balance.
Background image of page 4
Deposits in Transit Books
Background image of page 5

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

View Full DocumentRight Arrow Icon
Your cash record (i.e. checkbook). Outstanding deposits.
Background image of page 6
Lock-Box System Bank Collections
Background image of page 7

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

View Full DocumentRight Arrow Icon
Cash receipts that the bank has recorded for your account. Have customers pay directly to their bank.
Background image of page 8
Book Nonsufficient Funds (NSF) Checks
Background image of page 9

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

View Full DocumentRight Arrow Icon
Early cash receipts that have turned out to be worthless. Side of the bank reconciliation which require journal entries for all items.
Background image of page 10
Balance Sheet Cash Budget
Background image of page 11

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

View Full DocumentRight Arrow Icon
Helps a company or an individual manage cash by planning receipts and payments during a future period. Financial statement where you find cash.
Background image of page 12
Income Statement
Background image of page 13

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

View Full DocumentRight Arrow Icon
Background image of page 14
Background image of page 15

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

View Full DocumentRight Arrow Icon
Background image of page 16
Background image of page 17

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

View Full DocumentRight Arrow Icon
Background image of page 18
Background image of page 19

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

View Full DocumentRight Arrow Icon
Background image of page 20
Background image of page 21

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

View Full DocumentRight Arrow Icon
Background image of page 22
Background image of page 23
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Unrealized Gain Build up value of the asset to reflect market price. Financial statement unrealized gain on investment is shown on. Allowance Method Balance Sheet Financial statement short-term investments at market value are shown on. Matches expenses (i.e. bad debt expenses) with the proper revenues. Income Statement Balance Sheet Financial statement allowance for uncollectable accounts is shown on. Financial statement uncollectible-account expense is shown on. Market Value Net Income and Net A/R Unaffected by writing-off an account. The amount the owner can sell the investment for. Net Accounts Receivable (Net Realizable Value) Uncollectible Account Expense An operating expense, along with salaries, depreciation, rent, and utilities. Accounts Receivable – Allowance for Uncollectible Accounts...
View Full Document

This note was uploaded on 08/30/2011 for the course ACG 2021 taught by Professor Hornik during the Fall '08 term at University of Central Florida.

Page1 / 23

Exam2 - Flashcards(3) - Unrealized Gain Build up value of...

This preview shows document pages 1 - 23. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online