• Quiz
    TEST I. MULTIPLE CHOICE 1. Credit balances in customer’s accounts should be classified by the company as a. Revenue b. Deferred income c. Liability d. Part of allowance for bad debts 2. A non-interest bearing note received in exchange for property, goods or service...
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  • Principles of Accounting 1 chapter 9 notes
    Accounts Receivable: an amount due from another party two of the most common are: Accounts Receivable &Notes Receivable others are: interest receivable, rent receivable, tax refund receivable, and receivables from employees Accounts Receivable- are amounts due from customers for credit...
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  • Alcatel
    -89- Alcatel—Accounts Receivable Headquartered in Paris, France, Alcatel provides end-to-end communications solutions, enabling carriers, service providers and enterprises to deliver contents to any type of user, anywhere in the world. Leveraging its long-term leadership in telecommunications network...
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  • Written Assignment #4
    WRITTEN ASSIGNMENT #4 Exercise 22.1, pages 985–986 1. The following are nine technical accounting terms introduced or emphasized in this chapter: Responsibility margin Transfer price Common fixed costs Contribution margin ...
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  • Bank Reconciliation
    reconcile (match) to the balance of the bank statement. Bank reconciliation allows companies or individuals to compare their account records to the bank's records of their account balance in order to uncover any possible discrepancies. Since there are timing differences between when data is entered in...
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  • tests on accounting
    The accruals concept * d. The dual accept concept 3. Which accounting concept requires that foreseen losses should be anticipated and taken into account immediately? a. The consistency concept b. The accruals concept c. The prudence concept * d. The going concern concept 4. In times of rising...
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  • Acc 205 Week Two Exercise Assignment Revenue and Expenses
    expense amounts be recognized? Why? 2. Accrual and modified cash basis. The following information pertains to Beta Company for October: |Services rendered during October to customers on account |$14,380 | |Cash receipts from ...
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  • Cash & Ar Problems
    CHAPTER 7 CASH AND RECEIVABLES IFRS questions are available at the end of this chapter. TRUE-FALSE—Conceptual Answer T F F F F T F F T T T F F T F F T F T F No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Description Items considered cash. Items considered cash. Items...
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  • Accounting Notes
    Chapter 7- Cash and Cash Receivables LO1: Define financial assets, identify items that are considered cash and cash equivalents and how they are reported. Financial asset is any asset that is: I. Cash II. A contractual right to receive cash or another financial asset from another party ...
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  • Chapter 8 Auditi2
    confirmation requests are mailed to debtors whose accounts were written off as uncollectible, the auditors’ purpose is to determine that the receivables were genuine when they were first recorded in the accounts. In some fraud cases, fictitious accounts receivable have been created to cover up a shortage. ...
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  • Study Guide
    | | Accounts Receivable See Bad Debt Accruals -Payables/Receivables: no previous payment/entry but good/service provided/used so revenue/expense recognized. -Accruals carry over (Balance Sheet) so look at Δ for yearly amount. Accrued Revenues/Receivables (Sellers) Adjusting...
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  • Intermediate Accounting
    CHAPTER 7 CASH AND RECEIVABLES TRUE-FALSE—Conceptual Answer T F F F F T F F T T T F F T F F T F T F No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Description Items considered cash. Items considered cash. Items considered cash. Cash equivalents definition. Bank...
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  • Chapter 7 Acc557
    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...
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  • Accounts Receivable Management
    AN EVALUATION OF ACCOUNTS RECEIVABLE MANAGEMENT BY MANUFACTURING FIRMS IN NAKURU MUNICIPALITY [pic] RESEARCH PROJECT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF THE DEGREE IN BACHELOR OF COMMERCE (ACCOUNTING OPTION) SCHOOL OF BUSINESS KABARAK UNIVERSITY APRIL 2008 ...
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  • Student
    | | | Accounts Merchandise Notes Accounts Paid in Retained | | | Cash + Receivable + Inventory + Equipment = Payable + Payable + Capital + Earnings...
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  • Chapter 7 Solutions
    ANSWERS TO QUESTIONS 1. Cash normally consists of coins and currency on hand, bank deposits, and various kinds of orders for cash such as bank checks, money orders, travelers’ checks, demand bills of exchange, bank drafts, and cashiers’ checks. Balances on deposit in banks which are subject to...
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  • Capital Budgeting Decison
    Revised Fall 2012 CHAPTER 12 STATEMENT OF CASH FLOWS Key Terms and Concepts to Know Basic Concepts  The statement of cash flows highlights the major activities that impact cash flows and hence, affect the overall cash balance.  Cash flows are important because they finance operations, pay bills...
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  • Intermediate Accounting 14th Chp7
    CHAPTER 7 Cash and Receivables ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions 1. Accounting for cash. 2. Brief Exercises Concepts for Analysis Exercises Problems 1, 2, 3, 4, 21, 1 22, 23, 24 1, 2 1 Accounting for accounts receivable, bad debts, ...
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  • Accounting Study Guide
    Organization (Page 4) 3. Use of Financial Statements by Outsiders (Page 5) 4. Simple Ledger (Page 6) 5. Cash Control & Management (Page 7) 6. Petty Cash (Page 9) 7. Accounts Receivable (Page 10) 8. Notes Receivable (Page 13) 9. Accounting for Merchandising Activities (Page 15) 10. Classified Financial Statements...
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  • Significant Accounting Judgments, Estimates and Assumptions
    expenses reported in the separate financial statements at the reporting date. However, uncertainty about these judgments, estimates and assumptions could result in outcome that could require a material adjustment to the carrying amount of the affected asset or liability in the future. Judgments and estimates...
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