BE 13.01 – Eder Fabrication
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given the amount borrowed, discount rate, and the promissory note… prepare the journal entry.
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Given the amount borrowed, discount rate, and the promissory note… prepare the journal entry.
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They give you the note amount, months, and discount rate and ask you to prepare journal entries for the issuance and repayment.
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Given the amount of a note, the months, and the discount rate they ask you to fill out a table to calculate the effective interest rate.
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Given the salaries per week, the amount of vacation weeks not taken in one year, and the percent the salaries raised along with the total salaries paid in the following year… prepare two separate journal entries.
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Given the amount of gift cards sold, the percent redeemed in year 1, the amount presented for redemption, the meals price, and the percent sales tax…. prepare a journal entry, determine the liability, and classify the liabilities.
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Given the deposits that are collected, the deposits represented by containers, the refunded amount, and the forfeited deposits… prepare a journal entry along with determining the liability.
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Given the gift cards sold and redeemed in January, February, and March along with the amount not redeemable… prepare a journal entry and determine the amount of revenue recognized.
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Determine if this situation represents a loss contingency and what amount should Cupola report as a liability, prepare journal entries that summarize sales of the awnings.
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Determine if this situation describes a loss contingency, what is the bad debt expense, what is the net accounts receivable, and prepare journal entries.
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They give you several contingency possibilities and ask you to determine the correct way to report them along with preparing appropriate journal entries.
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