BUSI 1101 Chapter Notes - Chapter 8-9: Book Value, Accounts Receivable, Canadian Intellectual Property Office
Document Summary
Subsidiary ledger: a group of accounts that share a common characteristic. Bad debt expense is calculated by finding the difference between the required balance and the existing unadjusted balance in the allowance account. When a company will not receive their accounts receivable, they must keep note of what they will not be receiving with. Collecting uncollectible accounts: debit accounts receivable, credit allowance for doubtful accounts. Promissory note: a written promise to pay a specified amount of money on demand or at a definite time. Debit notes receivable, credit accounts payable (keep note of interest on note if any) The difference between the balance in the receivables account and the allowance account (cid:1840)(cid:1857)(cid:1872) (cid:1829)(cid:1870)(cid:1857)(cid:1856)(cid:1872) (cid:1845)(cid:1853)(cid:1864)(cid:1857)(cid:1871) (cid:1827)(cid:1874)(cid:1857)(cid:1870)(cid:1853)(cid:1859)(cid:1857) (cid:1870)(cid:1867)(cid:1871)(cid:1871) (cid:1827)(cid:1855)(cid:1855)(cid:1867)(cid:1873)(cid:1866)(cid:1872)(cid:1871) (cid:1844)(cid:1857)(cid:1855)(cid:1857)(cid:1874)(cid:1853)(cid:1854)(cid:1864)(cid:1857) 3(cid:888)(cid:887) (cid:1830)(cid:1853)(cid:1877)(cid:1871) (cid:1844)(cid:1857)(cid:1855)(cid:1857)(cid:1874)(cid:1853)(cid:1854)(cid:1864)(cid:1857)(cid:1871) (cid:1846)(cid:1873)(cid:1870)(cid:1866)(cid:1867)(cid:1874)(cid:1857)(cid:1870) (cid:1844)(cid:1857)(cid:1855)(cid:1857)(cid:1874)(cid:1853)(cid:1854)(cid:1864)(cid:1857)(cid:1871) (cid:1846)(cid:1873)(cid:1870)(cid:1866)(cid:1867)(cid:1874)(cid:1857)(cid:1870)= (cid:1827)(cid:1874)(cid:1857)(cid:1870)(cid:1853)(cid:1859)(cid:1857) (cid:1829)(cid:1867)(cid:1864)(cid:1864)(cid:1857)(cid:1855)(cid:1872)(cid:1867)(cid:1866) (cid:1857)(cid:1870)(cid:1867)(cid:1856)= Property, plant, and equipment: land (building sites), does not depreciate, land improvements, such as driveways, parking lots, fences, etc.
