发布时间 : 星期六 文章Intermediate Accounting - - Chapter 7更新完毕开始阅读
Exercise 7-1
Requirement 1 Cash and cash equivalents includes: Cash in bank – checking account U.S. treasury bills Cash on hand Undeposited customer checks Total Requirement 2
EUR
25,000 5,000 1,350 1,840 33,190 The EUR 20,000 in 6-month treasury bills should be classified as a current asset along with other temporary investments.
Exercise 7-2
Requirement 1 Cash and cash equivalents includes: a. Balance in checking account Balance in savings account b. Undeposited customer checks c. Currency and coins on hand f. U.S. treasury bills with 2-month maturity Total Requirement 2
GBP 13,500 22,100 5,500 580 15,000 56,680 d. The GBP 500,000 savings account will be used for future plant expansion and therefore should be classified as a noncurrent asset, either in other assets or investments.
Solutions Manual, Vol.1, Chapter 7
? The McGraw-Hill Companies, Inc., 2007
7-1
Exercise 7-2 (concluded)
e. The GBP 25,000 in the checking account is a compensating balance for a long-term loan and should be classified as a noncurrent asset, either in other assets or investments.
f. The GBP 20,000 in 7-month treasury bills should be classified as a current asset along with other temporary investments.
? The McGraw-Hill Companies, Inc., 2007 7-2
Intermediate Accounting, 4/e
Exercise 7-3
Requirement 1
Sales price = 1,000 units x 55 = 55,000
July 15, 2006 Accounts receivable ....................................................... 55,000 Sales revenue .............................................................. 55,000 July 23, 2006 Cash (98% x 55,000) .......................................................... 53,900 Sales discounts (2% x 55,000) ........................................... 1,100 Accounts receivable ................................................... 55,000 Requirement 2 July 15, 2006 Accounts receivable ....................................................... 55,000 Sales revenue .............................................................. 55,000 Aug. 15, 2006 Cash ................................................................................ 55,000 Accounts receivable ................................................... 55,000 Solutions Manual, Vol.1, Chapter 7
? The McGraw-Hill Companies, Inc., 2007
7-3
Exercise 7-4
Requirement 1
July 15, 2006 Accounts receivable ........................................................ 53,900 Sales revenue (98% x 55,000) ........................................ 53,900 July 23, 2006 Cash ................................................................................. 53,900 Accounts receivable .................................................... 53,900 Requirement 2
July 15, 2006 Accounts receivable ........................................................ 53,900 Sales revenue (98% x 55,000) ........................................ 53,900
August 15, 2006 Cash ................................................................................. 55,000 Accounts receivable .................................................... 53,900 Interest revenue ........................................................... 1,100 ? The McGraw-Hill Companies, Inc., 2007 7-4
Intermediate Accounting, 4/e