Financial Accounting
Week 6 Problem Sets
Part 1
- Answer the following question: What is meant by the net realizable value for accounts receivable?
- Answer the following question: What is aging of accounts receivable, and how is it used to account for uncollectible accounts?
- Answer the following question: How is the accounts receivable turnover computed? What information does this ratio provide?
- Answer the following question: Describe what is meant by the term “goodwill.”
Part 2
- Exercise 7-13A page 395 (attached)
- Problem 8-34A page 460 (attached)
- Exercise 8-9A page 451 (attached)
