Exercise 05.11 – Physical Therapy Center
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Estimate the amount, record the adjustment, calculate net accounts receivable.
Estimate the amount, record the adjustment, calculate net accounts receivable.
Record the acceptance of the note receivable, and the cash for Terrell collection.
Record the issuance of the note payable for Whole Grain, and the cash payment.
Record for Shoemaker Corporation. The loan and acceptance of the note receivable, the accrued interest, and cash collection of note and interest.
Calculate the receivables turnover, average collection period, and which company appears most efficient.
Given a list of account balances and additional information… record each transaction, record adjusting entries, prepare an adjusted trial balance, prepare an income statement, prepare a balance sheet, record closing entries, and lastly analyze ending balances and cash expected to be collected.