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.
Find how much interest revenue will the company recognize during each year.
They give you a note amount, maturity in years, and interest rate and ask you to calculate the sales revenue that would be recognized.
Find the effect of this transaction on the company’s assets, liabilities, and income before income taxes. (transfer accts rec without recourse)
Given accounts receivable, remittance percent, percent retained, factoring fee, and interest and ask you to describe how the company would account for the transfer.
Given the amount of a note, the interest rate, and the discount rate… calculate the amount of cash they will receive.
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.
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.
Given the bank balance, the cash receipts not deposited, and the checks outstanding… calculate the correct cash balance.
Given the amount of receivable being held along with the amount they settled for… determine the recognized gain or loss.