Ch 3 Answers Vol 1 - Receivables

Chapter 3 – Receivables

CHAPTER 3 - RECEIVABLES Question no. 7

a. b. c. d. e. f. #. . i. +. ,. l. m. n. o. p.

Accounts Re Receivable Receiva eceivable bles s fro from m Empl Employe oyees es (part (part of non-tr non-trade ade recei receivab vables les)) – curre current nt asset assets s Advan dvance ces s to Sup Supplie pliers rs – Curr urrent asset ssets s Accounts Re Receivable Cust Custom omer ers’ s’ Acco Accoun unts ts wit wit  Cre Credi ditt !al !alan ance ces s – Cur Curre rent nt "iab "iabil ilit itie ies s Cost Co st of mer mercan candi dise se must must be incl includ uded ed in inve invent ntor orie ies s Accounts Re Receivable Subscriptions Receivable – current asset if collectible witin $% monts& oterwise' non-current asset te terr onon-* *rade rade Rec Recei eiva vabl bles es – Cur Curre rent nt ass asset et or or nonnon-cu curr rren entt asse assett depe depend ndin in# # on terms of payment Advances Advances to Suppliers – Current Assets Assets Suppli Suppliers ers’’ Acco Account unts s wit wit ebit ebit !alan !alances ces or Adva Advance nces s to to Supp Supplie liers rs – Cur Curre rent nt assets assets Accounts Receivable Clai Claims ms for for nc ncom ome e *a/ *a/ Ref Refun und d – Curr Curren entt Asse Assets ts Accou Accounts nts Receiva eceivable ble'' amou amount nt of of loan loan prese presente nted d sepa separat rately ely as part part of of liab liabili ilitie ties s Accounts Receivable ot re reco#ni0ed an anymore (f (for wr write o1 o1) PROBLEMS

3-1

(Ginoo Com!n"#

G$oss Met%o& (Correction to te *e/t2 elete te second transaction on ec. $32 Collected from 4irst "ady in full.) ec. Accounts Receivable-4irst "ady 67'833 5 Sa Sales 67'833 73'333 / 539 / 5:9

$3 $5

%6 >$ @an. :

5

Accounts Receivable-;en’s
:3'333

Cas Sales iscounts Accounts Receivable-4irst "ady

6='3>% $'>67

Accounts Receivable-*eens’ ?in#dom Sa Sales

83'333

Sales iscounts Allowance for Sales iscounts

:3'333

67'833 83'333 733 733

Cas Allowance for Sales iscounts Accounts Receivable-*eens’ ?in#dom

>5'%33 733

Cas Accounts Receivable-;en’s
:3'333

1'

83'333 :3'333


et Met%o& ec. Accounts Receivable-4irst "ady 5 Sales 67'833 / .3.57

$3 $5 %6 >$

85'333

Cas Accounts Receivable-4irst "ady

6='3>%

Accounts Receivable-*eens’ ?in#dom Sales

>5'%33

ec. $5

>$ @an. :

5 3-,

6='3>% >5'%33 $'333 $'333 >5'%33 :3'333 :3'333 67'833 $'>67 6='3>% :3'333

Cas

6='3>%

Accounts Receivable-*eens’ ?in#dom Allowance for Sales iscount Sales Allowance for Sales iscount Sales iscount 4orfeited

$'333 85'333

$'>67 67'833 83'333 733 >5'%33 $'333 $'333

Cas Allowance for Sales iscount Accounts Receivable-*eens’ ?in#dom

>5'%33 733

:3'333

(Co)!"+o Com!n"# ($) @uly Allowance for oubtful Accounts $8 Accounts Receivable-;oret Co.

>$

85'333

Allowance for Sales iscount Accounts Receivable-4irst "ady %6

6='3>%

5

$3

6='3>%

otes Receivable Sales

83'333 :3'333

$3'333 $3'333 $%'333 $%'333

11


Au#. $:

ov. $

Cas

%3'333

otes Receivable Sales

$:'333

Cas

$5'%33

>:'333

Credit Card Service Car#e Sales 89 / %3'333  733 ov. 8

: ov. 5

ov. $:

733 %3'333

Accounts Receivable-B. oval otes Receivable nterest Revenue $%'333 / .$3 / 53>63  >33

$%'>33 $%'333 >33

Accounts Receivable-Credit Card Sales

5'333

Cas Credit Card Service Car#e Accounts Receivable-Credit Card :9 / 5'333  8:3 Accounts Receivable-;oret Co.

7'::3 8:3

5'333

5'333 $3'333

Allowance for !ad ebts $: ec. $>

$3'333

Cas Accounts Receivable-;oret Co.

$3'333

Cas

$:'633

$3'333

otes Receivable nterest ncome $:'333 / $%9 / $%3>63  633 3-3

$:'333 633

(o$m!t Com!n"#

a.

Carryin# value of te note on @anuary $' %335 B6'333'333 / 3.6:=:% B>'58:'$%3 Brevailin# interest rate $:9 nterest revenue for %335

B :5$'=67

b. Carryin# value' @anuary $' %335 B>'58:'$%3 Add amorti0ation of discount durin# %335 Carryin# value' ecember >$' %335 (or simply B>'58:'$%3 / $.$:  B8':>6'777) 3-

(o$m!tte& Com!n"#

a. Carryin# value of te note on @anuary $' %335 (B% ; / %.%7>%>) B8':66'863

1,

:5$'=67 B8':>6'777


nterest rate nterest revenue for %335

$:9 B 678'565

Carryin# value' ecember >$' %335 8':66'863 D 678'565 – %'333'333 nterest rate nterest revenue for %335

B>'%:$'8%5 $:9 B 87='=$8

b. Carryin# value' @anuary $' %335 B8':66'863 Add amorti0ation of discount durin# %335 "ess rst payment of principal (%'333'333) Carryin# value' ecember >$' %335 3-/

678'565 B>'%:$'8%5

(HRV Com!n"#

Accrued interest at @une >3' %335 (>'333'333 – $'333'333) / $%9 %83'333 3-0

B

( Co$o$!tion#

a. %335 @an. $

otes Receivable Accumulated epreciation "oss on Sale of EFuipment EFuipment iscount on otes Receivable

$33'333 8%3'333 7'7%3 :33'333 %7'7%3

$33'333 / 3.=$$7  =$'$73 73'333 – =$'$73  7'7%3 "oss on Sale $33'333 – =$'$73  %7'7%3 iscount

b. %335 ec. >$ %3$3 ec. >$ %3$$ ec. >$

ec. >$ 3- 7

iscount on otes Receivable nterest Revenue $%9 / =$'$73

7':8%

iscount on otes Receivable nterest Revenue $%9 / (=$'$73 D 7':8%)

5':6=

iscount on otes Receivable nterest Revenue $%9 / (=$'$73 D7':8% D 5':6=) (or %7'7%3 – 7':8% – 5':6=) Cas otes Receivable

7':8%

5':6= $3'=$$ $3'=$$

$33'333 $33'333

(Pin2" Po Com!n"# (So)utions *e$e !se& on PV 4!+to$s $oun&e& to 56e &e+im!) )!+es#

*e note is interest-bearin#' but te rate of interest of te note is unreasonably lower tan te prevailin# rate for similar obli#ation. *us' te present value of te note is determined as follows2

13


%.: ; D (:9 / =.: ;)  %'7=:'333 / B%':66'5=% %.: ; D (:9 / :.3 ;)  %'=:3'333 %'$5%'%=> %.: ; D (:9 / %.: ;)  %'6%:'333 $'767'8%% *otal or

a.

%.: ; / %.83$7> (:9 / =.: ;) / (:9 / :.3 ;) / (:9 / %.: ;) / *otal

3.75%76 /

3.=5=$5

/

3.=$$=7 B6'6%='66= B6'338':=: >>8'7%% $55'%57 77'5=% B6'6%='66=

3.75%76 3.=5=$5 3.=$$=7

Amorti0ation *able

ate

Bayment of Brincipal

3$3$35 $%>$35 $%>$$3 $%>$$$

%':33'333 %':33'333 %':33'333

nterest Baid

>=:'333 %:3'333 $%:'333

nterest Revenue

=5:'>%3 :8:'=:7 %7$'%::H

Amorti0atio n of iscount 8%3'>%3 %5:'=:7 $:6'%::H

Carryin# Galue 6'6%='66= 8':8='57= %'>8>'=8: ------------

Hrounded o1 b.

@ournal entries

%335

@an. $

otes Receivable

=':33'33 3

iscount on otes Receivable Iain on Sale of "and "and

7=%'>>> 6%='66= 6'333'33 3

=':33'333 – 6'6%='66=  7=%'>>> iscount 6'6%='66= – 6'333'333  6%='66= Iain %335

ec. >$

Cas iscount on otes Receivable nterest Revenue otes Receivable

%'7=:'33 3 8%3'>>3 =5:'>%3 %':33'33 3

%3$3

ec. >$

Cas iscount on otes Receivable nterest Revenue otes Receivable

%'=:3'33 3 %5:'=:7 :8:'=:7 %':33'33 3

%3$$

ec. >$

Cas iscount on otes Receivable

1

%'6%:'33 3 $:6'%::


nterest Revenue otes Receivable 3.

%7$'%:: %':33'33 3

Pin2" Pi Com!n"

*e note is interest-bearin#' but te rate of interest of te note is unreasonably i#er tan te prevailin# rate for similar obli#ation. *us' te present value of te note is determined as follows2 %.: ; D ($79 / =.: ;)  >'7:3'333 / %.: ; D ($79 / :.3 ;)  >'833'333 / %.: ; D ($79 / %.: ;)  %'5:3'333 / *otal or

%.: ; / %.83$7 ($79 / =.: ;) / ($79 / :.3 ;) / ($79 / %.: ;) / *otal

3.75%5 3.=5=% 3.=$$7

B>'8>='66: %'=$3'873 %'355'7$3 B7'%8='5:: B6'338':33 $'%3:'8$: =$='873 >%3'>$3 B7'%8='=3:H

3.75%5 3.=5=% 3.=$$7

Hi1erence in te computations is due to roundin# o1 b.

Amorti0ation *able Bayment of Brincipal

ate 3$3$35 $%>$35 $%>$$3 $%>$$$

%':33'333 %':33'333 %':33'333

nterest Baid

$'>:3'333 533'333 8:3'333

nterest Revenue

575'=:: 686':%: >$:'=6:H

Amorti0atio n of Bremium >63'%8: %:>'8=: $>8'%>:H

Carryin# Galue 7'%8='5:: :'>7='=$3 %'6>8'%>: ------------

Hi1erence is due to roundin# o1 b.

@ournal entries

%335

@an. $

otes Receivable Bremium on otes Receivable Iain on Sale of "and

=':33'33 3 =8='5:: %'%8='5: : 6'333'33 3

"and 7'%8='5:: – =':33'333  =8='5:: Bremium 7'%8='5:: – 6'333'333  %'%8='5:: Iain

%335

ec. >$

Cas

>'7:3'33 3

Bremium on otes Receivable nterest Revenue otes Receivable

>63'%8: 575'=:: %':33'33 3

%3$3

ec. >$

Cas

>'833'33

1/


3 Bremium on otes Receivable nterest Revenue otes Receivable

%:>'8=: 686':%: %':33'33 3

%3$$

ec. >$

Cas

%'5:3'33 3

Bremium on otes Receivable nterest Revenue otes Receivable 3-

$>8'%>: >$:'=6: %':33'33 3

(8o$& Com!n"#

!ad ebts E/pense Allowance for !ad ebts

B:%'333 :3'333

ReFuired balance in allowance account2 (%9 / :33'333) D ($39 / %33'333) D (%39 / $33'333) B:3'333 Reported balance in allowance before ad+ustments (debit) %'333 ReFuired ad+ustment car#ed to bad debts e/pense B:%'333 3-1'

(E&it Com!n"#

Allowance for Jncollectible Accounts' be# Recovery of accounts previously written o1

B 6'333

>'333 Jncollectible accounts e/pense for %335 87'333 Allowance for Jncollectible Accounts' end Accounts written o1 durin# %335 3-11

($%'333) B8:'333

(To"ot! P$o&u+ts9 In+.#

a. b.

c. d.

e.

Accounts Receivable Sales

8'733'333

Cas Sales iscounts Accounts Receivable

>'5%3'333 73'333

8'733'333

8'333'333

Allowance for Jncollectible Accounts Accounts Receivable

%3'333 %3'333

Accounts Receivable Allowance for Jncollectible Accounts

:'333

Cas Accounts Receivable

:'333

otes Receivable Accounts Receivable

%:'333

:'333 :'333 %:'333

10


.

i.

Cas otes Bayable-!an,

833'333

Cas Accounts Receivable

$:3'333

otes Bayable-!an, Cas

$:3'333

833'333 $:3'333 $:3'333

Jncollectible Accounts E/pense Allowance for Jncollectible Accounts

6:'333 6:'333

5'333 – %3'333 D :'333  6'333 debit :5'333 D 6'333  6:'333

+.

nterest Receivable nterest Revenue

%:3 %:3

%:'333 / $%9 / >3>63

Accounts Receivable (8:3'333D8'733'333–8'333'333–%3'333–%:'333–$:3'333) B$'3::'333 "ess Allowance for Jncollectible Accounts :5'333 et reali0able valueet amorti0ed cost 556'333 3-1,

B

(R!69 In+.#

Accounts Receivable' ecember >$' %337 Sales on account durin# %335 $':33'333 Cas received from customers ($'633'333) Cas discounts allowed2 (77%'333 K 579) / %9 (85:'333 K 559) / $9 Recovery of accounts written o1 >'333 Accounts written o1 as wortless Credit memoranda for sales returns Accounts Receivable' ecember >$' %335

B >>='333

B$7'333 :'333

(

%>'333)

( $$'333) ( 6'333) B %33'333

Allowance for Jncollectible Accounts' ecember >$' %337 Recovery of accounts written o1

B $%'333

Accounts written o1 as wortless mpairment loss on receivables

(

>'333 $$'333)

$:'333 Allowance for Jncollectible Accounts' ecember >$' %335

B

$5'333 *e computation may also be conveniently done trou# *-accounts' as follows2 Accounts Receivable !alance' be# Sales on account Recovery

>>='333 $':33'333 >'333

17

Collections Cas discounts
$'633'333 %>'333 $$'333 6'333


Total !alance' end

1,840,000 %33'333

Total

1,640,000

Allowance for Jncollectible Accounts

3-13

$$'333

Total

11,000

!alance' be# Recovery mpairment Total !alance' end

$%'333 >'333 $:'333 30,000 $5'333

(Re6o Com!n"#

Allowance for Jncollectible Accounts' @anuary $' %335

B

>8'333 Accounts written o1 Recovery of accounts previously written o1

( 8='333)

='333 Additional accounts written o1 ( 6'333) Allowance for Jncollectible Accounts' ecember >$' %335 before ad+ustments (debit balance) (B $%'333) ReFuired balance in Allowance account based on a#in#2 (:9 / %83'333) D (%:9 / %3'333) D (:39 / >3'333) D (539 / %8'333) :>'633 ReFuired ad+ustmentoubtful Accounts E/pense for %335 B6:'633

3-1

Accounts Receivable' ecember >$' %335

B6:8'333

"ess Allowance for Jncollectible Accounts et amorti0ed cost

:>'633 B633'833

(A&6entu$e Com!n"#

a.

Accounts Receivable' @anuary $ Sales durin# %335 Cas collected from customers Recovery of accounts previously written o1 ote received in settlement of an account Accounts written o1 as wortless Accounts Receivable' ecember >$ Accounts Receivable' ecember >$ Bast due accounts Current accountsot yet past due

B $'%33'333 $3'333'333 (7'=%3'333) %3'333 ( 833'333) ( $33'333) B %'333'333 B %'333'333 633'333 B $'633'333

ReFuired balance in Allowance for Jncollectible Accounts2 %39 / 633'333 past due accounts B $%3'333 :9 / $'833'333 current accounts =3'333 *otal B $53'333 b.

Allowance for Jncollectible Accounts' end Accounts written o1 durin# te year as wortless Recovery of accounts previously written o1 Allowance for Jncollectible Accounts' be# Jncollectible Accounts E/pense for year %335

B $53'333 $33'333 ( %3'333) ( 63'333) B %$3'333

c.

Accounts Receivable

B %'333'333

1:


"ess Allowance for Jncollectible Accounts et amorti0ed cost 3-1/

$53'333 B$'7$3'333

(ABC Re!)t"#

Alternative $ Carryin# value ($3 ; D $.% ;) $$'%33'333 Bresent value of future cas inLows2 Brincipal due on $%>$$$ 5; / 3.=5=% B='$=8'733 nterest for % years 5; / 79  =%3'333& =%3'333 / $.653$ $'%$6'7=% 7'>5$'6=% mpairment loss B%'737'>%7 Entry2 Restructured otes Receivable 7'>5$'6=% mpairment "oss – Receivables %'737'>%7 otes Receivable $3'333'333 nterest Receivable $'%33'333 Alternative % Carryin# value ($3 ; D $.% ;) Bresent value of future cas inLows2 %; D (79 / $3;)  %'733'333 / 3.75%5%':33'$%3 %; D (79 / 7;)  %'683'333 / 3.=5=%%'$38'637 %; D (79 / 6;)  %'873'333 / 3.=$$7$'=6:'%68 %; D (79 / 8;)  %'>%3'333 / 3.6>::$'8=8'>63 %; D (79 / %;)  %'$63'333 / 3.:6=8$'%%:':78 mpairment loss Entry2 Restructured otes Receivable mpairment "oss – Receivables otes Receivable nterest Receivable

$$'%33'333

5'365'5>6 %'$>3'368

5'365'5>6 %'$>3'368 $3'333'333 $'%33'333

Alternative > Carryin# value Bresent value of future cas inLows2 Brincipal due on $%>$35 $3; / 3.=5=% ='5=%'333 nterest due on $%>$$3 and $%>$$$ $3; / 59  533'333& =%3'333 / $.653$ $':%$'353 mpairment loss Entry2 Restructured otes Receivable mpairment "oss – Receivables otes Receivable Alternative 8 Carryin# value Bresent value of future cas inLows2 Brincipal due on $%>$$$ $$.%; / 3.=5=$5>7=6 nterest due on $%>$$3 and $%>$$$ $$.%; / $%9  $'>88'333& $'>88'333 / $.6533:$3 mpairment loss

1

$3'333'333

5'85>'353 :36'5$3

5'85>'353 :36'5$3 $3'333'333 $$'%33'333 7'5%7':=% %'%=$'8%7

$$'%33'333 ---------


3-10

(E&s!m!i) Com!n"#

(a)

;aturity value  :33'333 D (:33'333 / .37)  :83'333 Broceeds  :83'333 – (:83'333 / .$3 / :$%)  :$=':33

(b)

nterest Receivable nterest Revenue :33'333 / 79 / =$% Cas "oss on Sale of otes Receivable otes Receivable nterest Receivable

a.

%>'>>> :$=':33 :'7>> :33'333 %>'>>>

Broceeds 53'333 – (53'333 / 3.$: / %3>6:)

 B75'%63

b.

;aturity value =:'333 D (=:'333 / 3.$: / 53>6:) Broceeds =='==8 – (=='==8 / 3.$: / :3>6:)

 B=='==8  B=6'$=6

c.

;aturity value 63'333 D (63'333 / 3.$6 / $%3>6:) Broceeds 6>'$:6 – (6>'$:6 / 3.$: / 8:>6:)

 B6>'$:6  B6$'577

3-17

3-1:

%>'>>>

(C$oss*in& Co$o$!tion# %335

4eb. $

otes Receivable Accounts Receivable

April $

ov. >3

3-1

$

63'333 63'333

nterest Receivable nterest Revenue 63'333 / $69 / %

%$$'633 $'633

Cas nterest E/pense "iability on iscounted otes nterest Receivable 63'333 D (63'333 / .$6 / 5$%)  6='%33 6='%33 – (6='%33 / .$: / =$%)  6$'>%3 CG of iscounted otes 6$'633 Broceeds 6$'>%3 nterest E/pense %73

6$'>%3 %73

"iability on iscounted otes

63'333

Accounts Receivable otes Receivable Cas 6='%33 D $':33  67'=33

67'=33

63'333 $'633

63'333 67'=33

(Le;us Com!n"#

Amount of te loan

B6%:'333

,'


"ess service car#e (%9 / =:3'333) et proceeds from te assi#nment of accounts receivable B6$3'333 Sept. $

Sept $>3

$:'333

Accounts Receivable Assi#ned Accounts Receivable

733'333

Cas 4inance Car#es otes Bayable – Bacic !an,

6$3'333 $:'333

Cas

>33'333

733'333

6%:'333

Accounts Receivable Assi#ned Sept. >3

ct. $>$

>33'333

otes Bayable – Bacic !an, nterest E/pense (6%:'333 / $%9 / $$%) Cas

>33'333 6'%:3 >36'%:3

Allowance for Jncollectible Accounts

$3'333

Accounts Receivable Assi#ned

$3'333

Cas

833'333 Accounts Receivable Assi#ned

ct. >$

833'333

otes Bayable – Bacic !an,

>%:'333

nterest E/pense (>%:'333 / $%9 / $$%) Cas >$ 3-,'

>'%:3 >%7'%:3

Accounts Receivable Accounts Receivable Assi#ned

53'333 53'333

(E;)o$e$ Com!n"#

Accounts receivable factored B%'333'333 Burcase price 7:9MM Burcase price of accounts receivable factored $'=33'333 "ess amount witeld as protection a#ainst returns and allowances :9 / $'=33'333 7:'333M et cas received from te factored accounts B$6$:'333 Cash Receivable from Factor Loss on Factoring Acconts Receivable

B

1,615,000 85,000 300,000 !,000,000

,1


3-,1

(Hi<%)!n&e$ Com!n"# a. Sept. $ Cas Receivable from 4actor "oss from 4actorin# Accounts Receivable 733'333 / $39 73'333 "oss& =%3'333 / :9  >6'333 witeld

ov. $

b. ec. >$

3.,,

Cas 4inance Car#es otes Bayable-!an, >9 / 633'333  $7'333 Jncollectible Accounts E/pense Allowance for Jncollectible Accounts ($53'333 D $'333'333) / %9  %>'733 – $>'833

678'333 >6'333 73'333 733'333

:7%'333 $7'333 633'333 $3'833 $3'833

(A++o$& Com!n"#

@uly $

$

%$ >$

Au# $

$: Au# >$ Sept $

$


8'333'333

Cas 4inance Car#es otes Bayable – !an, :9 / >'%33'333  $63'333

>'383'333 $63'333

Sales Returns and Allowances Accounts Receivable Assi#ned

$:3'333

Cas Sales iscounts Accounts Receivable Assi#ned %9 / %':33'333  :3'333

%'8:3'333 :3'333

otes Bayable – !an, nterest E/pense Cas >'%33'333 / 3.$7 / $$%  87'333

%':33'333 87'333

Allowance for Jncollectible Accounts Accounts Receivable Assi#ned Cas Accounts Receivable Assi#ned

8'333'333

>'%33'333

$:3'333

%':33'333

%':87'333 :3'333 :3'333 $'333'333 $'333'333

otes Bayable – !an, nterest E/pense Cas =33'333 / 3.$7 / $$%  $3':33

=33'333 $3':33

Accounts Receivable Accounts Receivable Assi#ned

>33'333

,,

=$3':33

>33'333


8'333'333– $:3'333 – %':33'333 - :3'333 – $'333'333  >33'333

3 = ,3 (o$tune Com!n"#

ct. $

$

>$

ov. >3


%'333'333

Cas 4inance Car#es otes Bayable

$'883'333 53'333

%'333'333

$':33'333

nterest E/pense otes Bayable Accounts Receivable Assi#ned

57:'333 $:'333

otes Bayable

:$:'333

nterest E/pense Cas Accounts Receivable Assi#ned

:'$:3 %=5'7:3

$'333'333

733'333

M>LTIPLE CHOICE Q>ESTIOS T%eo$"

;C$ ;C% ;C> ;C8 ;C:

A A A A C

;C6 ;C= ;C7 ;C5 ;C$3

a c c d a

;C$$ ;C$% ;C$> ;C$8 ;C$:

c a d a c

P$o)ems

;C$6

b

;C$=

d

;C$7

c

;C$5 ;C%3

b a

;C%$ ;C%% ;C%> ;C%8

d d c d

;C%: ;C%6

b b

8:3'333 / $.8  6>3'333 6>3'333 – :7:'333  8:'333 $3:'333 / .53  58':33 (nvoice priceIross) 58':33 / .57  5%'6$3 (net price) %33'333 / .53 / .5:  $=$'333 (nvoice priceIross) $=$'333 / .5=  $6:'7=3 (et) $'>33'333 D :'833'333 D %:'333 – 8'=:3'333 – $%:'333  $'7:3'333 >63'333 K 739  8:3'333 8:3'333 D 73'333 – 8>3'333  $33'333 =:'333 D 8:'333  $%3'333 >9 / $'333'333  >3'333 >3'333 D 7'333  >7'333 %=3'333 – %:3'333  %3'333 %3'333 D %>'333 – %7'333 – :'333  $3'333 $=':33 – >3':33 D 7'3:3 D %33'333  $:'3:3 873'333 D %'833'333 – %':63'333 – $='633 – >6'733H D 8'733  %=3'833 H$'8$$'%33 K .57  $'883'333 / %9  %7'733 =5%'333 K .55  733'333 / $9  7'333 %7'733 D 7'333  >6'733

,3


;C%=

a

;C%7 ;C%5 ;C>3

a b d

;C>$

c

;C>% ;C>>

c c

;C>8

b

;C>:

c

$5'%33 D 8'733 – $='633  6'833 :9 / %=3'833  $>':%3 $>':%3 – 6'833  ='$%3 (:9 / 633'333) D ($39 / 83'333) D $8'333  87'333 %3'333 D =':33 – $%':33 – >'=33  $$'>33 :3'333 D (:3'333 / $39)  ::'333 ::'333 – (::'333 / .$% / 6$%)  :$'=33 833'333 / .=:  >33'333 >33'333 / $39  >3'333 >33'333 D >3'333  >>3'333 :33'333 / 79 / 8$%  $>'>>>& :33'333 D $>'>>>  :$>'>>> :33'333 D (:33'333 / .37)  :83'333& :83'333 – (:83'333 / .$3 / 7$%)  :38'333 :$>'>>> – :38'333  5'>>> nterest E/pense $'%:3'333 - (%9 / $'%:3'333)N  $'%%:'333 $'%%:'333 D 65:'333  $'5%3'333 ::3'333 – O(:33'333 / 3.7%6:) D (83'333 / $.=>::)P  6='>73

,

Ch 3 Answers Vol 1 - Receivables

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