Current Assets

Click the green Excel link to download the problem to your computer or click on the link at the left to view the related text on

All of the Excel links are .xlsx files. If you have trouble opening the file in an earlier version of Excel see this Microsoft page for information on how to import the file.


Special Issues for Merchants
     The Merchandising Operation -- Sales:
  Sales Terminology and Concepts Excel link  
     Purchase Considerations For Merchandising Businesses:
  Gross v. Net Entries and Impact Excel link  
  Buyer and Seller Entries Excel link  
  Calculating Cost of Goods Sold Excel link  
  Detailed Income Statement Excel link  
  Closing Accounts with Debits and Credits Excel link  
     Alternative Inventory System:
  Comparing Periodic and Perpetual Systems Excel link  
     Income Statement Enhancements:
  Analysis of Profit Margins Excel link  
     The Control Structure:
  Control Strengths and Weaknesses Excel link  





Cash and highly-Liquid Investments
     Cash Composition:
  Identifying Cash Items Excel link  
     Cash Management:
  Cash Management Excel link  
     Bank Reconciliation:
  Bank Reconciliation Tool Excel link  
     Petty Cash:
  Petty Cash Entries Excel link  
     Short-term Investments:
  Short-term Investments Excel link  





Accounts receivable
     Accounting For Uncollectible Receivables:
  Direct Write-Off Method Excel link  
     Alternative Approaches For Uncollectibles:
  Aging of Accounts Receivable Excel link  
  Journal Entries for Allowance Method Excel link  
  Accounts Receivable Ratios Excel link  
     Notes Receivable:
  Adjusting Entries For Notes Receivable Excel link  





     The Components Of Inventory:
  Items to Include in Inventory Excel link  
     Inventory Costing Methods:
  Periodic Inventory Costing Methods Excel link  
     Perpetual Inventory Systems:
  Perpetual FIFO Excel link  
  Perpetual LIFO Excel link  
  Moving Average Excel link  
     Inventory Estimation Techniques:
  Gross Profit Method Excel link  
  Retail Method Excel link  
     Inventory Management:
  Inventory Turnover Ratio Excel link