Lecture Accounting principles (11E): Chapter 9 - Coby Harmon

Prepared by<br /> Coby Harmon<br /> University of California, Santa Barbara<br /> Westmont College<br /> <br /> 9-1<br /> <br /> 9<br /> <br /> Accounting for<br /> Receivables<br /> <br /> Learning Objectives<br /> After studying this chapter, you should be able to:<br /> [1] Identify the different types of receivables.<br /> [2] Explain how companies recognize accounts receivable.<br /> [3] Distinguish between the methods and bases companies use to value<br /> accounts receivable.<br /> [4] Describe the entries to record the disposition of accounts receivable.<br /> [5] Compute the maturity date of and interest on notes receivable.<br /> [6] Explain how companies recognize notes receivable.<br /> [7] Describe how companies value notes receivable.<br /> [8] Describe the entries to record the disposition of notes receivable.<br /> [9] Explain the statement presentation and analysis of receivables.<br /> 9-2<br /> <br /> Preview of Chapter 9<br /> <br /> Accounting Principles<br /> Eleventh Edition<br /> Weygandt Kimmel Kieso<br /> 9-3<br /> <br /> Types of Receivables<br /> Amounts due from individuals and other companies that are<br /> expected to be collected in cash.<br /> <br /> Amounts owed by<br /> customers that<br /> result from the sale<br /> of goods and<br /> services.<br /> <br /> Claims for which<br /> formal instruments<br /> of credit are issued<br /> as proof of debt.<br /> <br /> “Nontrade” (interest,<br /> loans to officers,<br /> advances to<br /> employees, and<br /> income taxes<br /> refundable).<br /> <br /> Accounts<br /> Receivable<br /> <br /> Notes<br /> Receivable<br /> <br /> Other<br /> Receivables<br /> <br /> 9-4<br /> <br /> LO 1 Identify the different types of receivables.<br /> <br /> Types of Receivables<br /> Amounts due from individuals and other companies that are<br /> expected to be collected in cash.<br /> <br /> Illustration 9-1<br /> <br /> 9-5<br /> <br /> LO 1 Identify the different types of receivables.<br /> <br />