Chapter 7 Acc557

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CHAPTER 7
Cash and Receivables
ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)
Topics 1. 2. Accounting for cash. Accounting for accounts receivable, bad debts, other allowances. Accounting for notes receivable. Assignment and factoring of accounts receivable. Analysis of receivables. Petty cash and bank reconciliations. Questions 1, 2, 3, 4, 21 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15 14, 15 16, 17, 18, 19 20 22 Brief Exercises 1 2, 3, 4, 5 Concepts Exercises 1, 2 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 18, 19 12, 13, 14, 15, 16, 17, 21 20, 21 22, 23, 24, 25 Problems 1 2, 3, 4, 5, 6 8, 9, 10 7, 11, 12, 13 1 12, 13, 14 1, 2, 3, 4, 5, 10, 11 6, 7, 8, 9 6, 8 for Analysis

3. 4.

6, 7 8, 9, 10, 11, 12 13 14, 15, 16

5. *6.

*This material is covered in an Appendix to the chapter.

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ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE)
Learning Objectives 1. 2. 3. 4. 5. 6. 7. 8. 9. *10. Identify items considered as cash. Indicate how to report cash and related items. Define receivables and identify the different types of receivables. Explain accounting issues related to recognition of accounts receivable. Explain accounting issues related to valuation of accounts receivable. Explain accounting issues related to recognition of notes receivable. Explain accounting issues related to valuation of notes receivable. Explain accounting issues related to disposition of accounts and notes receivable. Describe how to report and analyze receivables. Explain common techniques employed to control cash. 9, 10, 11, 12 13 14, 15, 16 2, 3, 4 5 6, 7, 8 3, 4 3, 4, 5, 6, 12 7, 8, 9, 10, 11, 12 18, 19 18, 19 13, 14, 15, 16, 17, 21 20 22, 23, 24, 25 Brief Exercises 1 Exercises 1, 2 1 6 6 2, 3, 4, 5, 6 8, 9, 10 10 7, 11 11 12, 13, 14 Problems

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ASSIGNMENT CHARACTERISTICS TABLE
Level of Difficulty Moderate Moderate Simple Simple Simple Moderate Moderate Simple Simple Simple Simple Simple Simple Simple Simple Moderate Simple Simple Moderate Moderate Moderate Simple Simple Moderate Simple Simple Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Complex Moderate Moderate Moderate Moderate Time (minutes) 10–15 10–15 10–15 10–15 15–20 5–10 10–15 5–10 8–10 10–12 8–10 15–20 10–15 15–18 10–15 15–20 10–15 10–15 20–25 10–15 10–15 5–10 10–15 15–20 15–20 20–25 20–25 20–30 25–35 20–30 25–35 25–30 30–35 30–35 40–50 20–25 20–25 20–30 20–30

Item E7-1 E7-2 E7-3 E7-4 E7-5 E7-6 E7-7 E7-8 E7-9 E7-10 E7-11 E7-12 E7-13 E7-14 E7-15 E7-16 E7-17 E7-18 E7-19 E7-20 E7-21 *E7-22 *E7-23 *E7-24 *E7-25 P7-1 P7-2 P7-3 P7-4 P7-5 P7-6 P7-7 P7-8 P7-9 P7-10 P7-11 *P7-12 *P7-13 *P7-14

Description Determining cash balance. Determine cash balance. Financial statement presentation of receivables. Determine ending accounts receivable. Record sales gross and net. Recording sales transactions. Recording bad debts. Recording bad debts. Computing bad debts and preparing journal entries. Bad debt reporting. Bad debts—aging. Journalizing various receivable transactions. Assigning accounts receivable. Journalizing various receivable transactions. Transfer of receivables with recourse. Transfer of receivables with recourse. Transfer of receivables without recourse. Notes transactions at unrealistic interest rates. Notes receivable with unrealistic interest rate. Analysis of receivables. Transfer of receivables. Petty cash. Petty cash. Bank reconciliation and adjusting entries. Bank reconciliation and adjusting entries. Determine proper cash balance. Bad debt reporting. Bad debt reporting—aging. Bad debt reporting. Bad debt reporting. Journalize various accounts receivable transactions. Assigned accounts receivable—journal entries. Notes receivable with realistic interest rate. Notes receivable journal entries. Comprehensive receivables problem. Income effects of receivables transactions. Petty cash, bank reconciliation. Bank reconciliation and adjusting entries. Bank reconciliation and adjusting entries.

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ASSIGNMENT CHARACTERISTICS TABLE...
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