Prepare written responses to the following assignments from the text, Intermediate Accounting, 12th
Use Coetzee’s arguments from Giving Offense to analyze either The People Vs. Larry Flynt
July 7, 2020New Product Development Process
July 7, 2020Prepare written responses to the following assignments from the text, Intermediate Accounting, 12th
Prepare written responses to the following assignments from the text, Intermediate Accounting, 12th ed.:
Chapter 7
1) Exercise E7-2
E7-2 (Determine Cash Balance) Presented below are a number of independent situations.
Instructions
For each individual situation, determine the amount that should be reported as cash. If the item(s) is not
reported as cash, explain the rationale.
2) Exercise E7-8
E7-8 (Recording Bad Debts) At the end of 2007 Aramis Company has accounts receivable of $800,000 and
an allowance for doubtful accounts of $40,000. On January 16, 2008, Aramis Company determined that its receivable
from Ramirez Company of $6,000 will not be collected, and management authorized its write-off.
Instructions
(a) Prepare the journal entry for Aramis Company to write off the Ramirez receivable.
(b) What is the net realizable value of Aramis Company’s accounts receivable before the write-off of
the Ramirez receivable?
(c) What is the net realizable value of Aramis Company’s accounts receivable after the write-off of
the Ramirez receivable?
Chapter 8
3) Exercise E8-5
E8-5 (Inventoriable Costs—Error Adjustments) Craig Company asks you to review its December 31,
2007, inventory values and prepare the necessary adjustments to the books. The following information is
given to you.
4) Exercise E8-14
