acct229
at Texas A&M
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Chapters
Problems & Videos
Chapter 1
Debits, Credits, and the Accounting Equation
Chapter 2
The Financial Statements
Chapter 3
Journals, Ledgers, T-Accounts, and Normal Balances
Chapter 4
Differences in Timing, Adjusting Entries, and the Closing Process
Chapter 5
All About Inventory
Chapter 6
Cash and Bank Reconciliations
Chapter 7
Accounts Receivable and Bad Debts
Chapter 8
Long Term Assets and Depreciation
Chapter 9
Current Liabilities, Contingencies, and the Time Value of Money
Chapter 10
Bonds, Bonds, and Bonds
Chapter 11
Shareholder's Equity
Chapter 12
Cash Flows
Resources
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PVOA Table
PV$1 Table
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Formulas
Important formulas for each chapter
Chapter 1
Debits, Credits, and the Accounting Equation
Chapter 2
The Financial Statements
Chapter 3
Journals, Ledgers, T-Accounts, and Normal Balances
Chapter 4
Differences in Timing, Adjusting Entries, and the Closing Process
Chapter 5
All About Inventory
Chapter 6
Cash and Bank Reconciliations
Chapter 7
Accounts Receivable and Bad Debts
Chapter 8
Long Term Assets and Depreciation
Chapter 9
Current Liabilities, Contingencies, and the Time Value of Money
Chapter 10
Bonds, Bonds, and Bonds
Chapter 11
Shareholder's Equity
Chapter 12
Cash Flows
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acct229.com Formula Sheet
Total Credit Sales
– Sales Returns and Allowances
– Sales Discounts
Net Credit Sales
Ending Allowance for Bad Debts = Ending A/R * Estimated %
(Balance Sheet Method)
Bad Debt Expense = Net Credit Sales * Estimated %
(Income Statement Method)
Accounts Receivable
– Allowance for Bad Debts
(or Allowance for Uncollectible Accounts)
Net Realizable Value
(or Net Accounts Receivable)
Face Value
* Annual Percentage Rate
* (Months Outstanding / 12)
You could use (Days Outstanding / 360) instead of months
Interest Expense (or Revenue)
Maturity Value = Principal + Interest