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Exam_2_study_outline - SL DDB and Activity methods...

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ACCT 2000 EXAM #2 STUDY OUTLINE FALL 2008 CHAPTER 5: I. Journal entries under the “allowance method” and “direct write-off method” of accounting for bad debts; percentage of sales and aging methods of estimating bad debts II. FIFO, LIFO, and Average cost inventory cost flow assumptions Calculations, concepts, which method generates highest inventory values, net income and income tax savings; most common method III. Bank reconciliations; calculations and where each reconciling item is reported in the reconciliation; transposition errors IV. Consistency principle CHAPTER 6: I. Costs of Property, Plant and Equipment assets? II. Depreciation Methods:
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Unformatted text preview: SL, DDB and Activity methods Calculations, formulas, concepts III. Depreciation AJE IV. Depreciation Expense vs. Accumulated Depreciation V. Intangible assets (patents, copyrights, and goodwill); calculation of goodwill VI. What is amortization? Amortization period? CHAPTER 7: I. What are liabilities? II. Current liabilities vs. Long-term Liabilities III. A/P, N/P, Unearned Revenue, Accrued liabilities, Income Taxes Payable, Payroll Taxes Payable, Current portion of l-t debt IV. Interest calculations for notes payable V. Determination of maturity dates of notes VI. Bonds Payable – definition, types, pricing...
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