Identify the accounting policy related to the trade accounts receivable of Company LV.

Question

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Answer 1

Question

Chapter 8, Problem 1IFRS

(a)

To determine

Identify the accounting policy related to the trade accounts receivable of Company LV.

(b)

To determine

Identify the reason for the difference between gross trade accounts receivable and net trade accounts receivable of Company LV in 2014.

(c)

To determine

Identify the primary reason for the change in receivables balance of Company LV in 2014, when compared to the previous year.

(d)

To determine

Determine the Provision for impairment of receivables as a percentage of total trade receivables for 2014 and 2013, and its change from 2013 to 2014.

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Answer 2

Question

Chapter 8, Problem 1IFRS

(a)

To determine

Identify the accounting policy related to the trade accounts receivable of Company LV.

(b)

To determine

Identify the reason for the difference between gross trade accounts receivable and net trade accounts receivable of Company LV in 2014.

(c)

To determine

Identify the primary reason for the change in receivables balance of Company LV in 2014, when compared to the previous year.

(d)

To determine

Determine the Provision for impairment of receivables as a percentage of total trade receivables for 2014 and 2013, and its change from 2013 to 2014.

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Answer 3

Question

Chapter 8, Problem 1IFRS

(a)

To determine

Identify the accounting policy related to the trade accounts receivable of Company LV.

(b)

To determine

Identify the reason for the difference between gross trade accounts receivable and net trade accounts receivable of Company LV in 2014.

(c)

To determine

Identify the primary reason for the change in receivables balance of Company LV in 2014, when compared to the previous year.

(d)

To determine

Determine the Provision for impairment of receivables as a percentage of total trade receivables for 2014 and 2013, and its change from 2013 to 2014.

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Answer 4

Question

Chapter 8, Problem 1IFRS

(a)

To determine

Identify the accounting policy related to the trade accounts receivable of Company LV.

(b)

To determine

Identify the reason for the difference between gross trade accounts receivable and net trade accounts receivable of Company LV in 2014.

(c)

To determine

Identify the primary reason for the change in receivables balance of Company LV in 2014, when compared to the previous year.

(d)

To determine

Determine the Provision for impairment of receivables as a percentage of total trade receivables for 2014 and 2013, and its change from 2013 to 2014.

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Answer 5

Chapter 8, Problem 1IFRS

(a)

To determine

Identify the accounting policy related to the trade accounts receivable of Company LV.

(b)

To determine

Identify the reason for the difference between gross trade accounts receivable and net trade accounts receivable of Company LV in 2014.

(c)

To determine

Identify the primary reason for the change in receivables balance of Company LV in 2014, when compared to the previous year.

(d)

To determine

Determine the Provision for impairment of receivables as a percentage of total trade receivables for 2014 and 2013, and its change from 2013 to 2014.

Answer 6

Chapter 8, Problem 1IFRS

(a)

To determine

Identify the accounting policy related to the trade accounts receivable of Company LV.

Answer 7

Chapter 8, Problem 1IFRS

(a)

To determine

Identify the accounting policy related to the trade accounts receivable of Company LV.

Answer 8

(b)

To determine

Identify the reason for the difference between gross trade accounts receivable and net trade accounts receivable of Company LV in 2014.

Answer 9

(b)

To determine

Identify the reason for the difference between gross trade accounts receivable and net trade accounts receivable of Company LV in 2014.

Answer 10

(c)

To determine

Identify the primary reason for the change in receivables balance of Company LV in 2014, when compared to the previous year.

Answer 11

(c)

To determine

Identify the primary reason for the change in receivables balance of Company LV in 2014, when compared to the previous year.

Answer 12

(d)

To determine

Determine the Provision for impairment of receivables as a percentage of total trade receivables for 2014 and 2013, and its change from 2013 to 2014.

Answer 13

(d)

To determine

Determine the Provision for impairment of receivables as a percentage of total trade receivables for 2014 and 2013, and its change from 2013 to 2014.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 8 - Prob. 1Q Ch. 8 - Prob. 2Q Ch. 8 - Prob. 3Q Ch. 8 - Prob. 4Q Ch. 8 - Prob. 5Q Ch. 8 - Prob. 6Q Ch. 8 - Prob. 7Q Ch. 8 - Prob. 8Q Ch. 8 - Prob. 9Q Ch. 8 - Prob. 10Q

Identify the accounting policy related to the trade accounts receivable of Company LV.

Identify the accounting policy related to the trade accounts receivable of Company LV.

Identify the reason for the difference between gross trade accounts receivable and net trade accounts receivable of Company LV in 2014.

Identify the primary reason for the change in receivables balance of Company LV in 2014, when compared to the previous year.

Determine the Provision for impairment of receivables as a percentage of total trade receivables for 2014 and 2013, and its change from 2013 to 2014.

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Chapter 8 Solutions