10/15/24, 9:33 Kieso IFRS2e SM Ch07 - Solution Manual for book exercise
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CHAPTER 7
Cash and Receivables
ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)
Brief Concepts
Topics Questions Exercises Exercises Problems for
Analysis
1. Accounting for cash. 1, 2, 3, 4, 1 1, 2 1
20,
23, 24, 25
2. Accounts receivable: 5, 6, 7, 8, 9, 2, 3, 4, 5, 3, 4, 5, 6, 2, 3, 4, 1, 2, 3, 4,
8
recognition and 10, 11, 12, 7, 8, 9, 5, 6 5, 10, 11
10,
valuation. 13, 14, 15, 11, 12, 15
16, 21, 23,
24, 25
3. Notes receivable: 14, 15, 16, 6, 7, 9 13, 19, 20 8, 9, 10 6, 7, 8, 9
recognition and 17, 26
valuation.
4. Assignment and 18, 19, 20 10, 11, 12, 12, 14, 7, 11 4, 6, 8
15,
factoring of accounts 13, 14 16, 17,
receivable. 18, 22
5. Analysis of 22 15 21, 22 1
receivables.
6. Convergence. 27, 28
*7. Petty cash and bank 27 16, 17, 18 23, 24, 12, 13, 14
reconciliations. 25, 26
*8. Loan impairments. 12, 28 19 27, 28 15
*This material is covered in an Appendix to the chapter.
Copyright © 2014 John Wiley & Sons, Inc. Kieso, IFRS, 2/e, Solutions Manual (For Instructor Use Only) 7-1
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ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE)
Learning
Objectives Brief
Exercises Exercises Problems
1. Identify items considered cash. 1 1, 2
2. Indicate how to report cash and related 1
items.
3. Define receivables and identify the 3, 4 6
different types of receivables.
4. Explain accounting issues related to 2, 3 3, 4, 5, 6, 12 6
recognition of accounts receivable.
5. Explain accounting issues related to 4, 5, 8 7, 8, 9, 10, 2, 3, 4, 5,
valuation 6
of accounts receivable. 11, 12, 15
6. Explain accounting issues related to 6, 7 19, 20 8, 9, 10
recognition of notes receivable.
7. Explain accounting issues related to 19, 20 10
valuation of notes receivable.
8. Understand special topics related to 9, 10, 11, 12, 13, 14, 7, 11
12, 15,
receivables. 13, 14 16, 17, 18,
22
9. Describe how to report and analyze 15 21, 22 11
receivables.
*10. Explain common techniques 16, 17, 18 23, 24, 25, 12, 13, 14
employed to control cash. 26
*11. Describe the accounting for a loan 19 27, 28 15
impairment.
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ASSIGNMENT CHARACTERISTICS TABLE
Level Time
Item of (minutes
Difficult )
Description y
E7-1 Determine cash balance. Moderate 10–15
E7-2 Determine cash balance. Moderate 10–15
E7-3 Financial statement presentation of receivables. Simple 10–15
E7-4 Determine ending accounts receivable. Simple 10–15
E7-5 Recording sales gross and net. Simple 15–20
E7-6 Recording sales transactions. Moderate 5–10
E7-7 Recording bad debts. Moderate 10–15
E7-8 Recording bad debts. Simple 5–10
E7-9 Computing bad debts and preparing journal entries. Simple 8–10
E7-10 Bad-debt reporting. Simple 10–12
E7-11 Bad debts—aging. Simple 8–10
E7-12 Journalizing various receivable transactions. Simple 15–20
E7-13 Fair value option. Moderate 10–15
E7-14 Assigning accounts receivable. Simple 10–15
E7-15 Journalizing various receivable transactions. Simple 15–18
E7-16 Transfer of receivables with guarantee. Simple 10–15
E7-17 Transfer of receivables with guarantee. Moderate 15–20
E7-18 Transfer of receivables without guarantee. Simple 10–15
E7-19 Notes transactions at unrealistic interest rates. Simple 10–15
E7-20 Notes receivable with unrealistic interest rate. Moderate 20–25
E7-21 Analysis of receivables. Moderate 10–15
E7-22 Transfer of receivables. Moderate 10–15
*E7-23 Petty cash. Simple 5–10
*E7-24 Petty cash. Simple 10–15
*E7-25 Bank reconciliation and adjusting entries. Moderate 15–20
*E7-26 Bank reconciliation and adjusting entries. Simple 15–20
*E7-27 Impairments. Moderate 15–25
*E7-28 Impairments. Moderate 15–25
P7-1 Determine proper cash balance. Simple 20–25
P7-2 Bad-debt reporting. Moderate 20–25
P7-3 Bad-debt reporting—aging. Moderate 20–30
P7-4 Bad-debt reporting. Moderate 25–35
P7-5 Bad-debt reporting. Moderate 20–30
P7-6 Journalize various accounts receivable transactions. Moderate 25–35
P7-7 Assigned accounts receivable—journal entries. Moderate 25–30
P7-8 Notes receivable with realistic interest rate. Moderate 30–35
P7-9 Notes receivable journal entries. Moderate 30–35
P7-10 Comprehensive receivables problem. Complex 40–50
P7-11 Income effects of receivables transactions. Moderate 20–25
*P7-12 Petty cash, bank reconciliation. Moderate 20–25
*P7-13 Bank reconciliation and adjusting entries. Moderate 20–30
*P7-14 Bank reconciliation and adjusting entries. Moderate 20–30
*P7-15 Loan impairment entries. Moderate 30–40
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ASSIGNMENT CHARACTERISTICS TABLE (Continued)
Item
Level Time
Description of (minutes
Difficult )
y
CA7-1 Bad debt accounting. Simple 10–15
CA7-2 Various receivable accounting issues. Simple 15–20
CA7-3 Bad-debt reporting issues. Moderate 25–30
CA7-4 Basic note and accounts receivable transactions. Moderate 25–30
CA7-5 Bad-debt reporting issues. Moderate 25–30
CA7-6 Sale of notes receivable. Moderate 20–25
CA7-7 Zero-interest-bearing note receivable. Moderate 20–30
CA7-8 Reporting of notes receivable, interest, Moderate 25–30
and sale of receivables.
CA7-9 Accounting for zero-interest-bearing note. Moderate 25–30
CA7-10 Receivables management. Moderate 25–30
CA7-11 Bad-debt reporting. Moderate 25–30
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k 87
AM intermediate a…
CHAPTER 7
Cash and Receivables
ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)
Brief Concepts
Topics Questions Exercises Exercises Problems for
Analysis
1. Accounting for cash. 1, 2, 3, 4, 1 1, 2 1
20,
23, 24, 25
2. Accounts receivable: 5, 6, 7, 8, 9, 2, 3, 4, 5, 3, 4, 5, 6, 2, 3, 4, 1, 2, 3, 4,
8
recognition and 10, 11, 12, 7, 8, 9, 5, 6 5, 10, 11
10,
valuation. 13, 14, 15, 11, 12, 15
16, 21, 23,
24, 25
3. Notes receivable: 14, 15, 16, 6, 7, 9 13, 19, 20 8, 9, 10 6, 7, 8, 9
recognition and 17, 26
valuation.
4. Assignment and 18, 19, 20 10, 11, 12, 12, 14, 7, 11 4, 6, 8
15,
factoring of accounts 13, 14 16, 17,
receivable. 18, 22
5. Analysis of 22 15 21, 22 1
receivables.
6. Convergence. 27, 28
*7. Petty cash and bank 27 16, 17, 18 23, 24, 12, 13, 14
reconciliations. 25, 26
*8. Loan impairments. 12, 28 19 27, 28 15
*This material is covered in an Appendix to the chapter.
Copyright © 2014 John Wiley & Sons, Inc. Kieso, IFRS, 2/e, Solutions Manual (For Instructor Use Only) 7-1
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k 87
,10/15/24, 9:33 Kieso IFRS2e SM Ch07 - Solution Manual for book exercise
AM intermediate a…
ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE)
Learning
Objectives Brief
Exercises Exercises Problems
1. Identify items considered cash. 1 1, 2
2. Indicate how to report cash and related 1
items.
3. Define receivables and identify the 3, 4 6
different types of receivables.
4. Explain accounting issues related to 2, 3 3, 4, 5, 6, 12 6
recognition of accounts receivable.
5. Explain accounting issues related to 4, 5, 8 7, 8, 9, 10, 2, 3, 4, 5,
valuation 6
of accounts receivable. 11, 12, 15
6. Explain accounting issues related to 6, 7 19, 20 8, 9, 10
recognition of notes receivable.
7. Explain accounting issues related to 19, 20 10
valuation of notes receivable.
8. Understand special topics related to 9, 10, 11, 12, 13, 14, 7, 11
12, 15,
receivables. 13, 14 16, 17, 18,
22
9. Describe how to report and analyze 15 21, 22 11
receivables.
*10. Explain common techniques 16, 17, 18 23, 24, 25, 12, 13, 14
employed to control cash. 26
*11. Describe the accounting for a loan 19 27, 28 15
impairment.
7-2 Copyright © 2014 John Wiley & Sons, Inc. Kieso, IFRS, 2/e, Solutions Manual (For Instructor Use Only)
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,10/15/24, 9:33 Kieso IFRS2e SM Ch07 - Solution Manual for book exercise
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ASSIGNMENT CHARACTERISTICS TABLE
Level Time
Item of (minutes
Difficult )
Description y
E7-1 Determine cash balance. Moderate 10–15
E7-2 Determine cash balance. Moderate 10–15
E7-3 Financial statement presentation of receivables. Simple 10–15
E7-4 Determine ending accounts receivable. Simple 10–15
E7-5 Recording sales gross and net. Simple 15–20
E7-6 Recording sales transactions. Moderate 5–10
E7-7 Recording bad debts. Moderate 10–15
E7-8 Recording bad debts. Simple 5–10
E7-9 Computing bad debts and preparing journal entries. Simple 8–10
E7-10 Bad-debt reporting. Simple 10–12
E7-11 Bad debts—aging. Simple 8–10
E7-12 Journalizing various receivable transactions. Simple 15–20
E7-13 Fair value option. Moderate 10–15
E7-14 Assigning accounts receivable. Simple 10–15
E7-15 Journalizing various receivable transactions. Simple 15–18
E7-16 Transfer of receivables with guarantee. Simple 10–15
E7-17 Transfer of receivables with guarantee. Moderate 15–20
E7-18 Transfer of receivables without guarantee. Simple 10–15
E7-19 Notes transactions at unrealistic interest rates. Simple 10–15
E7-20 Notes receivable with unrealistic interest rate. Moderate 20–25
E7-21 Analysis of receivables. Moderate 10–15
E7-22 Transfer of receivables. Moderate 10–15
*E7-23 Petty cash. Simple 5–10
*E7-24 Petty cash. Simple 10–15
*E7-25 Bank reconciliation and adjusting entries. Moderate 15–20
*E7-26 Bank reconciliation and adjusting entries. Simple 15–20
*E7-27 Impairments. Moderate 15–25
*E7-28 Impairments. Moderate 15–25
P7-1 Determine proper cash balance. Simple 20–25
P7-2 Bad-debt reporting. Moderate 20–25
P7-3 Bad-debt reporting—aging. Moderate 20–30
P7-4 Bad-debt reporting. Moderate 25–35
P7-5 Bad-debt reporting. Moderate 20–30
P7-6 Journalize various accounts receivable transactions. Moderate 25–35
P7-7 Assigned accounts receivable—journal entries. Moderate 25–30
P7-8 Notes receivable with realistic interest rate. Moderate 30–35
P7-9 Notes receivable journal entries. Moderate 30–35
P7-10 Comprehensive receivables problem. Complex 40–50
P7-11 Income effects of receivables transactions. Moderate 20–25
*P7-12 Petty cash, bank reconciliation. Moderate 20–25
*P7-13 Bank reconciliation and adjusting entries. Moderate 20–30
*P7-14 Bank reconciliation and adjusting entries. Moderate 20–30
*P7-15 Loan impairment entries. Moderate 30–40
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ASSIGNMENT CHARACTERISTICS TABLE (Continued)
Item
Level Time
Description of (minutes
Difficult )
y
CA7-1 Bad debt accounting. Simple 10–15
CA7-2 Various receivable accounting issues. Simple 15–20
CA7-3 Bad-debt reporting issues. Moderate 25–30
CA7-4 Basic note and accounts receivable transactions. Moderate 25–30
CA7-5 Bad-debt reporting issues. Moderate 25–30
CA7-6 Sale of notes receivable. Moderate 20–25
CA7-7 Zero-interest-bearing note receivable. Moderate 20–30
CA7-8 Reporting of notes receivable, interest, Moderate 25–30
and sale of receivables.
CA7-9 Accounting for zero-interest-bearing note. Moderate 25–30
CA7-10 Receivables management. Moderate 25–30
CA7-11 Bad-debt reporting. Moderate 25–30
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