Business Administration 2257 Study Guide - Midterm Guide: Petty Cash, The Royal And Ancient Golf Club Of St Andrews, Deferral

• School: Western University
• Department: Business Administration
• Course: Business Administration 2257
• Professor: Shuh

Document Summary

Summary of bde: calculate t/b of afda, calculate e/b of afda (e/b afda = e/b ar x estimated bde %, calculate bde (plug) (bde = t/b afda e/b afda, bad debts expense xx. Accrual interest (fiscal year end) (face value x annual interest rate x n/12) If note is dishonoured, convert to ar xx xx. If xx assumed to be uncollectible, xx xx. 3% discount if paid in 10 days, Net amount due in 30 days xx xx xx. Start counting the day goods are shipped (fob shipping point) or the day goods are delivered (fob destination) Cogs = beginning inv + cogp end inv. Merchandise inventory: sequence of ownership, keep track of units purchased (avg cost. Lower of cost and net realizable value: if. + if we pay return shipping n/a if they ship back. If they refund shipping for both ways (use in fifo(*) calcs) Hc = historical cost rv = residual value.