title of goods changes hands at the shipping date (takes responsibility at the start of the journey) DR: Accounts Receivable, CR: Allowance for Doubtful Accounts; DR: Cash, CR: Accounts Receivable ((Cost – Residual Value) / Estimated Total Production) * Actual Production Inventory method ends up with a higher net income DR: Bad Debt Expense, CR: Allowance for Doubtful Accounts series of consecutive, equal, periodic payments Raw Materials, Work in Process, and Finished Goods purchase transactions are recorded directly in an inventory account expensed in the period incurred DR: Interest Expense, CR: Bond Discount, Cash DR: Cash, CR: Bond Premium, Bonds Payable rate set by markets at the time of issuance (Cost – Residual Value) * (1/ Useful Life) Sales Revenue – Credit Card and Sales Discount – Sales Returns and Allowances annual interest rate paid Principal * Annual Interest Rate* (Number of Months/ 12 months) The chance that the future event or events will occur is high that appears as a liability on the Balance Sheet no assets are pledged as guarantee of repayment at maturity (Beginning Inventory + Purchases of Merchandise during the Year) – Ending Inventory : occurs when one company buys another company title of goods changes hands on delivery (company takes responsibility until the end of the journey) (Cost – Accumulated Depreciation) * (2/Useful Life) Book Value > Cash Paid to Retire Bonds Book Value < Cash Paid to Retire Bonds No up-to-date record of inventory is maintained during the year DR: allowance for doubtful accounts, CR: accounts receivable Current Assets - Current Liabilities equals the amount by which the purchase price exceeds fair market value of net assets acquired added to the asset account (capitalize) inventory method ends up with least income tax no physical substance that includes patents, copyrights, goodwill, etc. physical substance that includes land, buildings, equipment, etc. The chance that the future event or events will occur is more than remote but less than likely that is disclosed on the footnote but not on the balance sheet The chance that the future event or events will occur is slight that will not be recorded on the footnote or balance sheet title of goods changes hands at the shipping date (takes responsibility at the start of the journey) DR: Accounts Receivable, CR: Allowance for Doubtful Accounts; DR: Cash, CR: Accounts Receivable ((Cost – Residual Value) / Estimated Total Production) * Actual Production Inventory method ends up with a higher net income DR: Bad Debt Expense, CR: Allowance for Doubtful Accounts series of consecutive, equal, periodic payments Raw Materials, Work in Process, and Finished Goods purchase transactions are recorded directly in an inventory account expensed in the period incurred DR: Interest Expense, CR: Bond Discount, Cash DR: Cash, CR: Bond Premium, Bonds Payable rate set by markets at the time of issuance (Cost – Residual Value) * (1/ Useful Life) Sales Revenue – Credit Card and Sales Discount – Sales Returns and Allowances annual interest rate paid Principal * Annual Interest Rate* (Number of Months/ 12 months) The chance that the future event or events will occur is high that appears as a liability on the Balance Sheet no assets are pledged as guarantee of repayment at maturity (Beginning Inventory + Purchases of Merchandise during the Year) – Ending Inventory : occurs when one company buys another company title of goods changes hands on delivery (company takes responsibility until the end of the journey) (Cost – Accumulated Depreciation) * (2/Useful Life) Book Value > Cash Paid to Retire Bonds Book Value < Cash Paid to Retire Bonds No up-to-date record of inventory is maintained during the year DR: allowance for doubtful accounts, CR: accounts receivable Current Assets - Current Liabilities equals the amount by which the purchase price exceeds fair market value of net assets acquired added to the asset account (capitalize) inventory method ends up with least income tax no physical substance that includes patents, copyrights, goodwill, etc. physical substance that includes land, buildings, equipment, etc. The chance that the future event or events will occur is more than remote but less than likely that is disclosed on the footnote but not on the balance sheet The chance that the future event or events will occur is slight that will not be recorded on the footnote or balance sheet
(Print)
title of goods changes hands at the shipping date (takes responsibility at the start of the journey)
DR: Accounts Receivable, CR: Allowance for Doubtful Accounts; DR: Cash, CR: Accounts Receivable
((Cost – Residual Value) / Estimated Total Production) * Actual Production
Inventory method ends up with a higher net income
DR: Bad Debt Expense, CR: Allowance for Doubtful Accounts
series of consecutive, equal, periodic payments
Raw Materials, Work in Process, and Finished Goods
purchase transactions are recorded directly in an inventory account
expensed in the period incurred
DR: Interest Expense, CR: Bond Discount, Cash
DR: Cash, CR: Bond Premium, Bonds Payable
rate set by markets at the time of issuance
(Cost – Residual Value) * (1/ Useful Life)
Sales Revenue – Credit Card and Sales Discount – Sales Returns and Allowances
annual interest rate paid
Principal * Annual Interest Rate* (Number of Months/ 12 months)
The chance that the future event or events will occur is high that appears as a liability on the Balance Sheet
no assets are pledged as guarantee of repayment at maturity
(Beginning Inventory + Purchases of Merchandise during the Year) – Ending Inventory
: occurs when one company buys another company
title of goods changes hands on delivery (company takes responsibility until the end of the journey)
(Cost – Accumulated Depreciation) * (2/Useful Life)
Book Value > Cash Paid to Retire Bonds
Book Value < Cash Paid to Retire Bonds
No up-to-date record of inventory is maintained during the year
DR: allowance for doubtful accounts, CR: accounts receivable
Current Assets - Current Liabilities
equals the amount by which the purchase price exceeds fair market value of net assets acquired
added to the asset account (capitalize)
inventory method ends up with least income tax
no physical substance that includes patents, copyrights, goodwill, etc.
physical substance that includes land, buildings, equipment, etc.
The chance that the future event or events will occur is more than remote but less than likely that is disclosed on the footnote but not on the balance sheet
The chance that the future event or events will occur is slight that will not be recorded on the footnote or balance sheet
