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Accounting for Inventory and Receivables: Calculations and Management Methods

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Finance - Personal Finance

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georgepetenjk Created by 10 mon ago

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Cards in this deck(35)
What are some methods a company can use to secure its inventory?
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How do you calculate the ending inventory using the formula?
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What is the formula to calculate gross profit?
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How is the cost of goods sold (COGS) calculated?
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What is a receivable and how is it typically recorded?
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What are some different forms of receivables?
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What is an uncollectible receivable?
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What are the methods to account for uncollected receivables?
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Using the direct write-off method, how is the reinstatement and receipt of cash recorded when a previously written-off account is collected?
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How does the allowance method for uncollectible accounts work?
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What is the formula for calculating net realizable value?
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How is a cash receipt recorded using the direct write-off method?
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How is an uncollectible account written off using the direct write-off method?
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How is a previously written-off account reinstated and collected using the direct write-off method?
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How is the adjusting entry for bad debt expense recorded using the allowance method?
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What is the formula for calculating interest revenue?
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What is the formula for calculating maturity value?
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How is accrued interest recorded at year-end for a promissory note?
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How is the journal entry recorded for the payment of a promissory note on its due date?
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How is a partial payment and write-off recorded using the allowance method?
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A cost that has been incurred may be classified as a _____?
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What is the formula for calculating depreciable cost?
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How is the straight-line rate calculated?
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What is the formula for straight-line depreciation?
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How is straight-line depreciation for a partial year calculated?
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How is depreciation per hour calculated using the units-of-activity method?
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How is the journal entry recorded for depreciation using the units-of-activity method?
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How is the double-declining-balance rate calculated?
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How is depreciation expense for the first year calculated using the double-declining-balance method?
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How is depreciation expense for the second year calculated using the double-declining-balance method?
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What is the formula for calculating book value?
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How is the expenditure to revamp an old sound system recorded?
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How is the purchase of a solar panel for an air conditioning unit recorded?
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How is the disposal of fully depreciated equipment recorded?
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How is the depreciation and disposal of a delivery van recorded using the units-of-activity method?
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