Comprehensive Study Notes on Accounting Principles: Notes Receivable, Plant Assets, and Depreciation

Important Class Dates and Assignments

• Final Exam: 8 AM - 10 AM, Wednesday, May 6, 2023
• Chapter 9 Homework Package Due: Tuesday, 9:30 AM
• Chapter 10 Homework Package Due: Following Tuesday after chapter 9 due date

Final Exam Overview

• The final exam will be weighted 12.5%, similar to other assignments.
• It is important to bring your computer for taking the exam, as it will be conducted in the classroom, not virtually.
• Majority of exam questions (80%) will focus on Chapters 9 and 10.
• A final exam folder on Brightspace is available for preparatory review.

Notes Receivable and Interest Adjustments

• Interest adjustment applies only if notes receivable carry over year-end.
• To record the adjustment:
    - Debit: Interest Receivable
    - Credit: Interest Revenue
    - Base the adjustment on the time factor, which focuses on the days between the start of the note and the financial year-end.