GB 112/212 MANAGERIAL ACC. W/ACCESS >C<
17th Edition
ISBN: 9781260218831
Author: Libby
Publisher: MCG CUSTOM
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Textbook Question
Chapter 6, Problem 6.2CP
Finding Financial Information
Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book.
Required:
- 1. How much cash and cash equivalents does the company report at the end of the current year?
- 2. What was the change in
accounts receivable and how did it affect net cash provided by operating activities for the current year? - 3. Which types of customers account for most of the company's accounts receivable? Did
bad debts expense increase or decrease between 2013 and 2014? How did you know? - 4. Where does the company disclose its revenue recognition policy? When does the company record revenues for the “sale” of gift cards?
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Students have asked these similar questions
Which of the following accounts will get affected when cash is received from sale made on account in the last month?
a.
Cash and Service Revenue
b.
Cash and Accounts Receivable
c.
Cash and Salary Expense
d.
Cash and Notes Payable
Which of the following accounts will get affected when cash is
received from sale made on account in the last month?
O a. Cash and Salary Expense
O b. Cash and Notes Payable
O c. Cash and Accounts Receivable
Od. Cash and Service Revenue
How much is the adjusted book disbursements for June?
In connection with your examination, the ABC Company presented to you the following information regarding its Cash in Bank account for the month of June of the current year:
• Balance per bank statements: May 31, P1,250,000, and June 30, P1,350,000.
• Balances of cash in bank account in companys books: Moy 31, P1,251,000, and June 30, P1,051,000.
• Total charges in the bank statement during June were Pl,300,000.
• Undeposited receipts were: May 31, P200,000 and June 30, 53,000.
• Outstanding checks as of Moy 31, P150,000.
• Erroneous bank credits were: May 31, P45,000 and June 30, P17,000. • Erroneous bank charges were: May 31, P20,000 and June 30, P30,000.
• Collections by bank not recorded by Company were P125,000 in May and P150,000 in June.
• NSF not entered in company's books were: May 31, P110,000 and June 30, P75,000.
• Customer's check deposited in May amounting to P21,000 was erroneoushy entered in the books as P12,000.…
Chapter 6 Solutions
GB 112/212 MANAGERIAL ACC. W/ACCESS >C<
Ch. 6 - Prob. 1QCh. 6 - What is gross profit or gross margin on sales? In...Ch. 6 - What is a credit card discount? How does it affect...Ch. 6 - Prob. 4QCh. 6 - Prob. 5QCh. 6 - Differentiate accounts receivable from notes...Ch. 6 - Which basic accounting principle is the allowance...Ch. 6 - Using the allowance method, is bad debt expense...Ch. 6 - Prob. 9QCh. 6 - Prob. 10Q
Ch. 6 - Prob. 11QCh. 6 - Prob. 12QCh. 6 - Prob. 13QCh. 6 - Prob. 14QCh. 6 - Briefly explain how the total amount of cash...Ch. 6 - Prob. 16QCh. 6 - Sales discounts with terms 2/10, n/30 mean: a. 10...Ch. 6 - Gross sales total 300,000, one-half of which were...Ch. 6 - A company has been successful in reducing the...Ch. 6 - When a company using the allowance method writes...Ch. 6 - You have determined that Company X estimates bad...Ch. 6 - Prob. 6MCQCh. 6 - Which of the following is not a step toward...Ch. 6 - When using the allowance method, as bad debt...Ch. 6 - Which of the following best describes the proper...Ch. 6 - Prob. 10MCQCh. 6 - Prob. 6.1MECh. 6 - Prob. 6.2MECh. 6 - Recording Bad Debts Prepare journal entries for...Ch. 6 - Prob. 6.4MECh. 6 - Determining the Effects of Credit Policy Changes...Ch. 6 - Prob. 6.6MECh. 6 - Prob. 6.7MECh. 6 - Prob. 6.1ECh. 6 - Reporting Net Sales with Credit Sales, Sales...Ch. 6 - Reporting Net Sales with Credit Sales, Sales...Ch. 6 - Determining the Effects of Credit Sales, Sales...Ch. 6 - Prob. 6.5ECh. 6 - Reporting Bad Debt Expense and Accounts Receivable...Ch. 6 - Recording Bad Debt Expense Estimates and...Ch. 6 - Recording Bad Debt Expense Estimates and...Ch. 6 - Prob. 6.9ECh. 6 - Prob. 6.10ECh. 6 - Computing Bad Debt Expense Using Aging Analysis...Ch. 6 - Recording and Reporting a Bad Debt Estimate Using...Ch. 6 - Recording and Reporting a Bad Debt Estimate Using...Ch. 6 - Prob. 6.14ECh. 6 - Prob. 6.15ECh. 6 - Inferring Bad Debt Write-Offs and Cash Collections...Ch. 6 - Inferring Bad Debt Write-Offs and Cash Collections...Ch. 6 - Prob. 6.18ECh. 6 - Prob. 6.19ECh. 6 - Prob. 6.20ECh. 6 - Recording, Reporting, and Evaluating a Bad Debt...Ch. 6 - Prob. 6.22ECh. 6 - Prob. 6.23ECh. 6 - Interpreting tho Effects of Salos Declines and...Ch. 6 - Prob. 6.25ECh. 6 - Prob. 6.26ECh. 6 - Prob. 6.27ECh. 6 - Prob. 6.1PCh. 6 - Recording Bad Debts and Interpreting Disclosure of...Ch. 6 - Determining Bad Debt Expense Based on Aging...Ch. 6 - Preparing an Income Statement and Computing the...Ch. 6 - Prob. 6.5PCh. 6 - Prob. 6.6PCh. 6 - Prob. 6.7PCh. 6 - Reporting Net Sales and Expenses with Discounts,...Ch. 6 - Prob. 6.2APCh. 6 - Determining Bad Debt Expense Based on Aging...Ch. 6 - Prob. 6.4APCh. 6 - Prob. 6.5APCh. 6 - Prob. 6.1CONCh. 6 - Finding Financial Information Refer to the...Ch. 6 - Finding Financial Information Refer to the...Ch. 6 - Prob. 6.3CPCh. 6 - Prob. 6.4CPCh. 6 - Prob. 6.5CP
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