Learning Festival

12 Multiple Choice

6 Problems:

Allowance for Doubtful Accounts (using aging schedule)

Receivables Turnover and Collection Period

2 questions – Comparing Depreciation Methods (prepare depreciation schedules to compare the 3 methods, determining net book value)

Disposal of assets (Loss on disposal, gain on disposal and discarding assets with zero net book value)

Return on Assets and Asset Turnover