Problem 5.01B – Hubbard, Rolling Stones, Waste Management…
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition
Given four scenarios… determine the amount of revenue that would be recognized.
Given four scenarios… determine the amount of revenue that would be recognized.
Given transactions regarding sales allowances and discounts… record the transactions along with preparing a partial income statement.
Given transactions for the month… record each of the transactions along with showing revenues in the income statement.
Given transactions regarding accounts receivable and allowance balance… record each transaction, post the transactions, and lastly calculate net accounts receivable.
Given a list of events that occurred within the first two years… record each, post transactions, and calculate net accounts receivables.
Given the amount and percent of accounts that are estimated to be uncollectible… calculate total uncollectible amounts and record the allowance in different scenarios.
Given an aging schedule… calculate allowance, record the adjustments, record the write-offs, and record cash collection.
Given the membership revenues and accounts receivables for the last two years… determine the allowance of uncollectible accounts along with showing the misstated amount using the direct write-off method.
Given data regarding different age groups… determine whether he should use the direct write-off method, calculate the allowance for uncollectible accounts, and calculate the misstated amount.
Given the accounts receivables balance, uncollectible percent, operating income, and income to get a bonus … record two situations along with calculating the revised operating income.