Cash and Receivables
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | currency and coins, balances in checking, items acceptable for deposit in these accounts. readily available to pay off debt or to use in operations
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| show | money market funds, treasury bills, commercial paper. must have a maturity date no longer than 3 months from the date of purchase. also credit and debit card receivables.
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| show | companys plan to 1)encourage adherence to company policies and procedures 2)promote operational efficiency 3)minimize errors and theft and 4)enhance the reliability and accuracy of accounting data
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| show | individuals that have physical responsibility for assets should not also have access to accounting records
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| compensating balances | show 🗑
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| receivables | show 🗑
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| show | resulting from the sale of goods or services on account (trade receivables)
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| trade discounts | show 🗑
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| cash discounts | show 🗑
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| gross method | show 🗑
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| net method | show 🗑
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| bad debt expense | show 🗑
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| net realizable value | show 🗑
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| allowance method | show 🗑
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| income statement approach | show 🗑
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| show | determine BDE by estimating the net realizable value of AR to be reported in the BS
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| AR aging schedule | show 🗑
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| notes receivable | show 🗑
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| interest-bearing notes | show 🗑
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| show | interest is discounted from the face amount to determine the cash proceeds made available to the borrower at the outset
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
cc4661
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