FINANCIAL ACCOUNTING EXAM 2 STUDY GUIDE Format Multiple Choice Problems 8 3 X 1 X 22 22 X 13 1 X 10 2 1 11 X 1 X 7 7 X 3 1 24 13 20 11 3 100 Topics Chapter 6 Accounts receivable Estimation Percentage of net credit sales Aging analysis Balance sheet presentation Write off Impact of contra revenue accounts Chapter 7 Inventory FOB Determination of net sales and COGS Cost flow assumptions FIFO LIFO Weighted average Effects of prices rising or falling under LIFO or FIFO Chapter 8 Property plant equipment Depreciation methods Straight line Units of production 200 declining balance Disposal Intangible Assets Amortization Chapter 9 Present value and future value applications Activity indicators Inventory turnover Days sales in inventory A R turnover 2
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