Which receivables figure - the total amount that customers owe the company, or the net amount...
Which receivables figure - the total amount that customers owe the company, or the net amount the company expects to collect - are investors more interested in as they consider buying the company's stocks? Provide your reason. Is this statement true or false? "Credit card sales increase accounts receivables." Explain why or why not. Does using the direct write-off method of accounting for un-collectibles under or overstates assets? Explain.
Homework Answers
1. Which receivables figure - the total amount that customers owe the company, or the net amount the company expects to collect - are investors more interested in as they consider buying the company's stocks? Provide your reason.
2. Is this statement true or false? "Credit card sales increase accounts receivables." Explain why or why not.
3.Does using the direct write-off method of accounting for un-collectibles under or overstates assets? Explain.
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Which receivables figure - the total amount that customers owe
the company, or the net amount...
please help! thanks! The company uses the aging of receivables method to estimate the amount that...
please help! thanks!
The company uses the aging of receivables method to estimate the amount that should be reported in the allowance for doubtful accounts at the end of the period. At the end of the period outstanding accounts receivable total $1,560,000. Of the $1,560,000 in accounts receivable, $120,000 are 1-30 days past due; $80,000 are 31-90 days past due; and $30,000 are more than 90 days past due. The remaining receivables are current (not past due). Based on historical...
0. Allowance for Doubtful Accounts on the balance sheet: a is offset against total current assets....
0. Allowance for Doubtful Accounts on the balance sheet: a is offset against total current assets. b. increases the cash realizable value of accounts receivable. c appears under the heading "Other Assets." d. is deducted from accounts receivable. or a company with significant uncollectible receivables, the direct write-off method is unsuitable because: A) it overstates liabilities on the balance sheet. B) it violates the matching principle. C) direct write-offs would be immaterial. D) it is not allowed for tax reasons....
0. Allowance for Doubtful Accounts on the balance sheet: a is offset against total current assets....
0. Allowance for Doubtful Accounts on the balance sheet: a is offset against total current assets. b. increases the cash realizable value of accounts receivable. c appears under the heading "Other Assets." d. is deducted from accounts receivable. or a company with significant uncollectible receivables, the direct write-off method is unsuitable because: A) it overstates liabilities on the balance sheet. B) it violates the matching principle. C) direct write-offs would be immaterial. D) it is not allowed for tax reasons....
1.Assume that you are the president of your company and paid a year-end bonus according to the amount of net income earn...
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) Indicate whether the following are TRUE or FALSE. 1. A company had net sales...
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Ture or fause question UI TALSE. A company had net sales of $545,000 and cost of goods sold of S345,000. Its gross 1...
Ture or fause question
UI TALSE. A company had net sales of $545,000 and cost of goods sold of S345,000. Its gross 1. margin equals $890,000 An accelerated depreciation method creates a larger depreciation charge as the asset comes closer to the end of its useful life. 3. JUnits of Production is an accelerated depreciation method. __4. The term "depletion" as applied to intangible assets follows the matching principle. Even if the end of an accounting period occurs between the...
2. Balance sheet The balance sheet provides a snapshot of the financial condition of a company....
2. Balance sheet The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance. Cute Camel Woodcraft Company is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information...
Which of the following does not explain why net income from operating activities is not the...
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The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts...
The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance Blue Hamster Manufacturing Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete...
Accounts Payable $4,400 Salaries Expense 12,800 Cash 1,700 Common Stock 2,400 Service Revenue 8,300 Supplies 4,300 Retained Earnings 1,100 Utilit...
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please help! thanks!
The company uses the aging of receivables method to estimate the amount that should be reported in the allowance for doubtful accounts at the end of the period. At the end of the period outstanding accounts receivable total $1,560,000. Of the $1,560,000 in accounts receivable, $120,000 are 1-30 days past due; $80,000 are 31-90 days past due; and $30,000 are more than 90 days past due. The remaining receivables are current (not past due). Based on historical...
0. Allowance for Doubtful Accounts on the balance sheet: a is offset against total current assets. b. increases the cash realizable value of accounts receivable. c appears under the heading "Other Assets." d. is deducted from accounts receivable. or a company with significant uncollectible receivables, the direct write-off method is unsuitable because: A) it overstates liabilities on the balance sheet. B) it violates the matching principle. C) direct write-offs would be immaterial. D) it is not allowed for tax reasons....
0. Allowance for Doubtful Accounts on the balance sheet: a is offset against total current assets. b. increases the cash realizable value of accounts receivable. c appears under the heading "Other Assets." d. is deducted from accounts receivable. or a company with significant uncollectible receivables, the direct write-off method is unsuitable because: A) it overstates liabilities on the balance sheet. B) it violates the matching principle. C) direct write-offs would be immaterial. D) it is not allowed for tax reasons....
Ture or fause question
UI TALSE. A company had net sales of $545,000 and cost of goods sold of S345,000. Its gross 1. margin equals $890,000 An accelerated depreciation method creates a larger depreciation charge as the asset comes closer to the end of its useful life. 3. JUnits of Production is an accelerated depreciation method. __4. The term "depletion" as applied to intangible assets follows the matching principle. Even if the end of an accounting period occurs between the...
2. Balance sheet The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance. Cute Camel Woodcraft Company is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information...
The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance Blue Hamster Manufacturing Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete...
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