EXERCISE 8-6 (Continued) (b). Also, no interest would be accrued for October. The data contained in these files are protected by copyright. View more... Accounting Principles, Third Canadian Edition. Collection period Days sales in inventory Operating cycle (b). 1 Notes Receivable–Jones................... 10, 500 Accounts Receivable—Jones....... June 30 Interest Receivable............................. Interest Revenue [$10, 500 x 5% x 4/12]..................... July 1. FRN Inc. IMM Ltd. DRX Co. MGH Corp. (b) Oct. $9, 000 x 5. 5% x 7/12 = $700 $40, 000 x 8. 570 75 380 348 299 100. Jan. 5 Accounts Receivable................ Accounting principles third canadian edition chapter 8 answers to worksheet. 19, 000 Sales...................................... 20 Cash [$4, 500 - $146].................. Credit Card Expense [$4, 500 x 3. If Imagine Co. used 3% of accounts receivable rather than aging the accounts, the adjustment would be $21, 550 [($385, 000 x 3%) + $10, 000]. The accounts debited and credited are the same under both methods. Bad Debts Expense (f)......................... Allowance for Doubtful Accounts (d) ($22, 750 - $21, 550 - $26, 350 = $25, 150).
PROBLEM 8-9B (Continued) (c) Notes Receivable Explanation Ref. A company, such as Canadian Pacific, may chose to securitize its receivables to accelerate cash receipts from their receivables. Accounting principles third canadian edition chapter 8 answers.microsoft.com. The Credit Card Expense and Debit Card Expense accounts are reported as operating expenses on the income statement. Each of the major types of receivables should be identified in the balance sheet or in the notes to the financial statements. Sales............................................
DR 1, 000 10, 000 9, 000 1, 850 1, 850. 75% x 1/12].............. Interest Revenue [$4, 800 x 6. Aug. 10 No entry 31 Cash................................................. 25% x 1/12]............... Accounts Receivable.................. 1, 064 7 1, 057. Current Ratio: 2004: $1, 710 ÷ $2, 259 = 0.
SOLUTIONS TO BRIEF EXERCISES BRIEF EXERCISE 8-1 (a) (b) (c) (d) (e) (f). Both are valued at their net realizable value. Accounting for the disposition of a note receivable and an account receivable are the same. Debit Sales Return Sales Sales Sales Payment. BYP 8-5 ETHICS CASE. Accounting principles third canadian edition chapter 8 answers.unity3d. G) Bad Debts Expense ($1, 950, 000 x 1. Net realizable value of accounts receivable and account for bad debts. In addition, consideration would have to be given as to whether the note should be written off. B) $50, 000 [($2, 000, 000 x 2. This will provide more accurate information about the customer in case the customer wants to receive credit again in the future.
7 = 42 days 365 ÷ 8. The reasons companies sometimes sell their receivables are: (1) For competitive reasons, sellers often must provide financing to purchasers of their goods for extended periods. Interest should not be accrued on this note if it is unlikely to be collected. Bad debts expenses are recorded in the same period in which the sales to which they relate were generated. In this case notes receivable due in three months would be disclosed first followed by net accounts receivables (accounts receivable less the allowance for doubtful accounts) and finally other receivables which would include sales taxes recoverable and income taxes receivable. Interest receivable reported under the current asset section of the balance sheet total $3, 251 calculated as follows: Note 1. 2) Notes receivable are claims for which a formal credit instrument has been issued as proof of the debt. Estimated Uncollectible $ 1, 800 1, 920 8, 100 31, 200 $43, 020% 1. Unauthorized copying, distribution, or transmission of this page is strictly prohibited. Legal Notice Copyright. The note receivable due in two years would be included in Other Assets on the Company's balance sheet. Selling receivables provides a more current source of cash to help finance operations.
0-30 31-60 $220, 000 $160, 000. 04 times or 33 days (2005). 25%)................................... 24, 375 Allowance for Doubtful Accounts......... 24, 375. 29, 000 ($35, 000 - $6, 000) is the amount Hohenberger would record as bad debts expense. It also focuses management attention on the receivables and the loss percentages, which can result in better receivables management. B) Receivables Turnover: 2004: $6, 548 ÷ [($529 + $793) ÷ 2] = 9. 20, 000 ($24, 000 - $4, 000). 31 Accounts Receivable—DRX..... Notes Receivable—DRX....... Interest Receivable [$6, 000 x 5% x 1/12].............. Interest Revenue [$6, 000 x 5% x 1/12].............. 6, 050. 25% x 2/12 = $550 $39, 000 x 6. Other sets by this creator. 18, 000 11, 500 Dr. 3, 500 8, 000 Dr. (d) Bad Debts Expense [($200, 500 x 6%) + $8, 000]......................... 20, 030 Allowance for Doubtful Accounts......... 20, 030.
Receivables turnover Industry: 7. 75% x 1/12 = 105 $ 9, 000 x 4. Although accounts receivable have only increased by $15, 000 the estimated uncollectible amounts have increased by $20, 865.
A close-up shot used to hide an edit or to emphasize a detail. The second picture is inserted in place of the key-color. FX) Tricks and illusions — electronic or on camera — employed in film and video to define, distort, or defy reality. Secondary footage in tv production lingot. A w alk-on is a role consisting of a brief appearance on the screen. National Television Standards Committee) Group formed by Federal Communications Commission to regulate U. television broadcasting specifications.
In this system, any decimal number can be stored as a series of ones and zeros. The audio may begin before or after the picture is cut. An audition is the process in which an actor or performer reads from a prepared script or does a "cold reading" or a portion of dialogue. A m ockumentary is a fictional movie that has the style of a documentary but with irreverent humor that's designed to mock the subject if features. Special Effects Generator. SOT – Sound on Tape (usually means interview). Interesting Movie Terms. An allegory is essential an extended metaphor. It is also known as a flip-over or push-over. Dub: To make a taped copy of any progam source record, CD, tape. Secondary footage in tv production lingo crossword. This is typically done to evoke a certain mood. Full-Coat: Film which is coated with an iron oxide compound on which sound is recorded and from which sound is reproduced. Called linear because scenes are laid in a line along the tape.
Method of electronically inserting the image from one video source into the picture of another. 0, that indicates the ratio of a sensor's imaging area to that of a full frame sensor. An Art Director is an individual who belongs to a film's art department who is in charge of the feel, look, construction, and design of the set. Edge Numbers: Coded numbers printed along the edged of a strip of film for identification purposes. Rough cut: A preliminary trial stage in the process of editing a film. Or by the reversal process from another negative. Secondary footage in tv production lingo. Master (print master). All answers together on one page! Microphone with built-in amplifier, the type installed on camcorders.
It also now refers to video which is transferred from that original negative. This also generically refers to the process of film-to-tape transfers. Gig - A job in the film or video industry. Key Numbers: Numbers placed on the edge of the film stock by the manufacturer as a unique identification point (35mm - every 16 frames: 16mm - every 20 frames). This standard was developed by the Motion Pictures Experts Group. Ambience) Natural background audio representative of a given recording environment. Relationship between a master video recording and a given copy of that master. Inductance: The resistance of a coil of wire to rapidly fluctuating currents which increases with frequency. Glossary for Film Production Assistant | Language of Film Production. Brassy "antique" look characteristic of old photographs. Trailer: A short publicty film which advertises a film or forthcoming presentations. See long shot, medium shot.
Noninterlaced video. A l avalier is a small microphone that is clipped or taped to an actor to record dialogue. A Dictionary of Moviegoing Terms. Holes in black wrap made a nice cookie. Production Office Coordinator (POC) - This person helps most with logistics. Film History Definitions. VITC: Vertical Interval Time Code. List of Film Jargon. 4), and are lighter weight and less bulky. Varispeed: Increasing or decreasing tape speed to match the musical pitch of tape playback. Compression: The reduction of a span of amplitudes done for the purpose of limiting the reproduction of those amplitudes. J. K. Simmons is a great character actor, best known for his role of J. Jonah Jameson in the Spider-Man films. Edison Plug: An ordinary household plug with two flat blades and a ground pin. Cross-Cutting is an editing technique of interspersing, interweaving, or alternating one action with another.
2] Tripod's camera mount. RETURN TO: FilmLand Independent Film INDEX. A cross-over is a film marketed toward one audience but would also be enjoyed by a completely different demographic. Usually used for theatrical purposes. Deal Memo: A form which lists the pertinent details of salary, guaranteed conditions, and other essentials of a work agreement negotiated between a member of the cast or crew and a production company. They were both too brief for separate screenings, so they would be joined together onto a single reel for exhibition.