Intermediate Account Ii

CHAPTER 18

Revenue Recognition

ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)

Brief Exercises 1 Concepts for Analysis 1, 2, 3, 4, 5, 7, 8, 9 1, 2, 3, 6

Topics

Questions

Exercises 1, 2, 3

Problems 1

*1. Realization and recognition; 1, 2, 3, 4, sales transactions; high 5, 6, 22 rates of return. *2. Long-term contracts. 7, 8, 9, 10, 11, 12, 22 13, 14, 15, 16, 17, 18, 19, 20, 21, 22

2, 3, 4, 5, 6 7, 8, 9

4, 5, 6, 7, 8, 9, 10 11, 12, 13, 14, 15, 16

1, 2, 3, 4, 5, 6, 7, 14, 15, 16, 17 1, 8, 9, 10, 11, 12, 15

*3. Installment sales.

1, 2, 3

*4. Repossessions on installment sales. *5. Cost-recovery method; deposit method. *6. Franchising. *7. Consignments. 13, 22, 23, 24 22, 25, 26, 27, 28 29

8 10 11 12

13, 17, 18 15, 16 19, 20 21

10, 11, 12, 13, 14 8, 9 10

*This material is dealt with in an Appendix to the chapter.

18-1

ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE)

Brief Exercises 1 1 2, 3 4, 5 6 7, 8, 9 10 11, 12

Learning Objectives 1. 2. 3. 4. 5. 6. 7. *8. Apply the revenue recognition principle. Describe accounting issues for revenue recognition at point of sale. Apply the percentage-of-completion method for long-term contracts. Apply the completed-contract method for long-term contracts. Identify the proper accounting for losses on long-term contracts. Describe the installment-sales method of accounting. Explain the cost-recovery method of accounting. Explain revenue recognition for franchises and consignment sales.

Exercises 1, 2, 3 1, 2, 3 4, 5, 6, 7, 8, 9 4, 8, 9, 10 10 11, 12, 13, 14, 15, 16, 17, 18 15, 16 19, 20, 21

Problems

1 1, 2, 3, 4, 5, 6, 7, 16, 17 1, 2, 3, 5, 6, 7, 15, 16, 17 5, 6, 7, 15 1, 8, 9, 10, 11, 12, 13, 14

18-2

ASSIGNMENT CHARACTERISTICS TABLE

Level of Time Difficulty (minutes) Moderate Simple Moderate Moderate Moderate Simple Moderate Moderate Simple Simple Simple Moderate Moderate Simple Simple Simple Simple Simple Simple Simple Simple Moderate Simple Moderate...