Introduction to Financial Accounitng - Fall 2015
Review for Test #3	Chapter 7-9
Written Problems:
1.	Compute DDB depreciation for 2 years
2.	Compute depletion
3.	Allocate the purchase price among assets
4.	Compute gain/loss on sale and make journal entries
5.	Calculate payroll tax
Know the following definitions or calculations::
1.	Maturity date of a note receivable
2.	Calculation of interest:
a.	For accrual at year end, by month or day
b.	due on a note at maturity
3.	Allowance method of estimating bad debt expense using % of Sales
4.	Allowance method of estimating bad debt expense using % of Accounts Receivable
5.	Explain how the Matching Principle is related to the Allowance Methods of recording
Bad Debt Expense.
6.	Land improvements
7.	Compute gain/loss on disposal of assets
8.	Depletion
9.	Warranty expense
10.	Revenue expenditures vs Capital Expenditures
11.	Contingent liabilities
12.	Book Value
13.	Gross pay vs Net pay
14.	SL Depreciation calculated for a partial year
15.	Calculate SL depreciation when changing estimates of useful life and salvage value.
16.	Honoring vs Dishonoring a note payable
17.	Plant assets definition
Know how to make the following journal entries:
1.	Credit Card sale
2.	Warranty Expense and Estimated Warranty Liability
3.	Gain/Loss on sale of an asset
4.	Payment of a bad debt after it has been written off to the Allowance for Bad Debts account