[經(jīng)濟學]ch09-20xx原書第五版ppt-資料下載頁
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【正文】 value of the note plus interest for the length of time specified on the note. ? Betty Co. lends Higley Inc. $10,000 on June 1, accepting a 4month, 9% interestbearing note. ? Betty Co. collects the maturity value of the note from Higley on October 1. General Journal Date Account titles DR CR Oct 1 Cash 10300 Notes receivable 10000 Interest revenue 300 To record collection of note Honor of Notes Receivable General Journal Date Account titles DR CR Sep 30 Interest receivable 300 Interest revenue 300 To record acceptance of Brent Note If Betty Co. prepares financial statements as of September 30, interest for 4 months, or $300, would be accrued. Recognizing of Notes receivable General Journal Date Account titles DR CR Oct 1 Cash 10300 Notes receivable 10000 Interest receivable 300 To record collection of note Honor of Notes Receivable When interest has been accrued, it is necessary to credit Interest Receivable at maturity. DISHONOR OF NOTES RECEIVABLE ? A dishonored note is a note that is not paid in full at maturity. ? A dishonored note receivable is no longer negotiable轉讓 . ? Since the payee still has a claim against the maker of the note, the balance in Notes Receivable is usually transferred to Accounts Receivable. General Journal Date Account titles DR CR Oct 1 Accounts receivable 10300 Notes receivable 10000 Interest revenue 300 To record dishonor of note Dishonor of Notes Receivable BALANCE SHEET PRESENTATION OF RECEIVABLES ? In the balance sheet, shortterm receivables are reported within the current assets section below short term investments. ? Both the gross amount of receivables and the allowance for doubtful accounts should be reported. ? The following shows the current asset presentation of receivables for Kellogg Company at December 31. KELLOGG COMPANY Accounts receivable (in millions) $ Less: Allowance for doubtful accounts Net receivables $ Net Credit Sales Average Accounts Receivable Accounts Receivable Turnover 247。 = ? The financial ratio used to assess the liquidity of the receivables is the receivables turnover ratio which measures the number of times, on average, receivables are collected during the period. ? If Lands’ End had credit sales of $1,355 million for the year and a beginning accounts receivable balance of $ million and and ending accounts receivable balance of million its accounts receivable turnover ratio is puted as follows: ACCOUNTS RECEIVABLE TURNOVER RATIO 應收賬款周轉率 $1,355 $ + $ 2 72 times 247。 = ? The average collection period is a conversion of the receivables turnover ratio that makes the liquidity even more evident. ? Lands’ End turnover of 72 times is divided into 365 days as follows: AVERAGE COLLECTION PERIOD FOR RECEIVABLES 平均回收期 Days in Year Accounts Receivable Turnover 247。 = Average Collection Period in Days 365 days days 247。 = 72 times Homework ? E91, 92, 93 ? P93A
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