Proportional allocation worksheet for asset purchases in Intermediate Accounting

I created the following worksheet to help students learn how to proportionally allocate the purchase price of a group of assets. It works for concepts in the Intermediate Accounting textbook we use by David Spiceland, et al: In Chapter 6, we learn about the five steps of revenue recognition. We must find or calculate the […]

Revenue Recognition: When Progress Billings is more than Construction in Progress

One of the ways that I like to supplement the Spiceland Intermediate Accounting textbook is to create financial statements from the journal entries in the lessons. Generally, the textbook shows the journal entry that is used for the transaction, but it sometimes does not show what happens to the balance sheet after the journal entry […]

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