Exercise 05.10 – Mercy Hospital
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Estimate the amount, record the adjustment, calculate net accounts receivable.
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Your numbers will vary.
Estimate the amount, record the adjustment, calculate net accounts receivable.
Your numbers will vary.
Estimate the amount, record the adjustment, calculate net accounts receivable.
Your numbers will vary.
Given four transactions for the company… record them all using both the allowance and direct write-off method. Then they ask you to calculate the bad debt expense for both years using both methods.
Your numbers will vary.
Given information regarding three notes that were accepted… record the acceptance of each.
Your numbers will vary.
Record for Shoemaker Corporation. The loan and acceptance of the note receivable, the accrued interest, and cash collection of note and interest.
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Calculate the receivables turnover, average collection period, and which company appears most efficient.
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Given net sales along with beginning and ending accounts receivable… calculate receivables turnover ratio and average collection period.
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Given transactions for the month… record each of the transactions along with showing revenues in the income statement.
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Given a list of events that occurred within the first two years… record each, post transactions, and calculate net accounts receivables.
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Given the amount and percent of accounts that are estimated to be uncollectible… calculate total uncollectible amounts and record the allowance in different scenarios.
Your numbers will vary.