
Intermediate Accounting Plus Mylab Accounting With Pearson Etext -- Access Card Package (2nd Edition)
2nd Edition
ISBN: 9780134833101
Author: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Publisher: PEARSON
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Chapter 3, Problem 3.4BE
To determine
To explain: The importance of understanding cognitive biases in decision making and identify at least three techniques to mitigate cognitive biases in practice.
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These transactions took place for Blossom Co.
2024
May
1
Received a $3,000, 12-month, 4% note in exchange for an outstanding account receivable from R. Stoney.
Accrued interest revenue on the R. Stoney note.
Dec. 31
2025
May 1
Received principal plus interest on the R. Stoney note. (No interest has been accrued since December 31, 2024.)
Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31. (List all
debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record
journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amount in
the relevant debit OR credit box. Entering zero in ALL boxes will result in the question being marked incorrect.)
Date
Account Titles and Explanation
Debit
Credit
Oriole Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make
entries to accrue interest except at December 31.
Nov. 1
Loaned $54,600 cash to C. Bohr on a 12-month, 8% note.
Dec. 11
Sold goods to K. R. Pine, Inc., receiving a $1,800, 90-day, 7% note.
Received a $14,400, 180-day, 6% note to settle an open account from A. Murdock.
16
31
Accrued interest revenue on all notes receivable.
Journalize the transactions for Oriole Co. (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles
are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Use
360 days for calculation. If no entry is required, select "No Entry" for the account titles and enter O for the amount in the relevant debit OR credit
box. Entering zero in ALL boxes will result in the question being marked incorrect.)
Date
Account…
Chapter 3 Solutions
Intermediate Accounting Plus Mylab Accounting With Pearson Etext -- Access Card Package (2nd Edition)
Ch. 3 - Prob. 3.1QCh. 3 - Prob. 3.2QCh. 3 - Does U.S. GAAP require that companies disclose...Ch. 3 - Does IFRS require that companies disclose...Ch. 3 - Prob. 3.5QCh. 3 - Does IFRS require that companies disclose their...Ch. 3 - Prob. 3.7QCh. 3 - Prob. 3.8QCh. 3 - Prob. 3.9QCh. 3 - Prob. 3.10Q
Ch. 3 - Prob. 3.11QCh. 3 - What is the Basis for Conclusions and where can...Ch. 3 - Prob. 3.13QCh. 3 - Prob. 3.14QCh. 3 - Prob. 3.1BECh. 3 - Judgment in Accounting for Plant and Equipment....Ch. 3 - Match Each Cognitive Bias Below with its...Ch. 3 - Prob. 3.4BECh. 3 - Prob. 3.5BECh. 3 - Prob. 3.6BECh. 3 - Prob. 3.7BECh. 3 - Codification Research. Referencing Appendix A,...Ch. 3 - Prob. 3.9BECh. 3 - Prob. 3.10BECh. 3 - Exercises E3-1. Accounting Policy Disclosures. To...Ch. 3 - Cognitive Bias. A team of accounting students is...Ch. 3 - Cognitive Bias. A team of accounting students is...Ch. 3 - Authoritative Literature. Provide the reference to...Ch. 3 - Authoritative Literature. Provide the reference to...Ch. 3 - Authoritative Literature. To what entity types...Ch. 3 - Authoritative Literature. How does FASB define...Ch. 3 - Prob. 3.8ECh. 3 - Prob. 1JCCh. 3 - Prob. 2JCCh. 3 - Prob. 1SSCCh. 3 - Surfing the Standards Case 2: Inventory...Ch. 3 - Basis for Conclusions Case 1: Judgment and...Ch. 3 - Basis for Conclusions Case 2: Income Statement or...
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