BE 7.17 – Davenport Company
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Find how much interest revenue will the company recognize during each year.
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Find how much interest revenue will the company recognize during each year.
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They give you a note amount, maturity in years, and interest rate and ask you to calculate the sales revenue that would be recognized.
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Find the effect of this transaction on the company’s assets, liabilities, and income before income taxes. (transfer accts rec without recourse)
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Given accounts receivable, remittance percent, percent retained, factoring fee, and interest and ask you to describe how the company would account for the transfer.
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Given the amount of a note, the interest rate, and the discount rate… calculate the amount of cash they will receive.
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Calculate Camden Hardware’s accounts receivable turnover ratio and average collection period for the year, given the credit sales, and the accounts receivable at the beginning and end of the year.
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Given the cash balance, the amount of an NSF check returned, the incurred service charges, and the amount of an incorrect check… calculate the correct cash balance.
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Given the bank balance, the cash receipts not deposited, and the checks outstanding… calculate the correct cash balance.
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Given the amount of receivable being held along with the amount they settled for… determine the recognized gain or loss.
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