Quiz – Rahal’s Auto Parts
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
What are Rahal’s accounts receivable on 12/31?
What are Rahal’s accounts receivable on 12/31?
Given sales on air conditioning units and the terms of the sale, they ask you to prepare journal entries for the sale along with recording the receipt.
Find what the net sales would be on the income statement.
Given the possible credit losses on two different notes, they ask you to determine the bad debt expense using the CECL and ECL models.
Given accounts receivable, allowance for uncollectible accounts, and credit sales, they ask you to determine the amount that should be charged to the bad debt expense under two methods.
Given the amount owed under a note along with interest, they ask you to determine the credit loss that the bank would record and prepare journal entries to record the credit loss.
Given information on a note signed and the amount exchanged for, they ask you to prepare a journal entry along with computing the effective annual rate of interest.
Trell will show an amount receivable from factor of:
Given items that were contained in the petty cash fund, they ask you to prepare journal entries to establish the petty cash account.