Homework Answers
Q33- C SEC could allow IASB to set US Accounting Standard.
Q34- D Timeliness
Q35- B Cash, Account Receivables, Inventories, Prepaid Items.
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Question Completion Status: QUESTION 33 Which of the following is false related to accounting standard setting?...
QUESTION 36 hich of the following is false related to accounting standard setting? A. The FASB...
QUESTION 36 hich of the following is false related to accounting standard setting? A. The FASB Codification created the new GAAP that we use today. B. The EITF reduces the risk of scandals by addressing emerging issues in financial reporting and providing guidance. C. The SEC could allow the IASB to set US accounting standards. D. Due process refers to the process whereby the FASB solicits feedback from various constituents prior to the rules being finalized.
Question Completion Status: Which of the following is NOT a part of generally accepted accounting principles?...
Question Completion Status: Which of the following is NOT a part of generally accepted accounting principles? A FASB Accounting Standards Updates B. AICPA Research Analysis OC. CAP Accounting Research Buletins D.APB Opinions QUESTION 11 2.5 points Save Araw A statement of stockholders' equity includes a column for each of the following except A net income Bretained earnings C. Long-term Liabilities D. accumulated other comprehensive income QUESTION 12 1.5 points Save Answer Which organization issues Accounting Standards Updates? A. Financial Accounting...
Question Completion Status: QUESTION 28 Under the cash basis of accounting, revenues are recognized in the...
Question Completion Status: QUESTION 28 Under the cash basis of accounting, revenues are recognized in the period of cash re True False QUESTION 29 For purposes of reporting the results of operations, the life of a business is: A. considered to be one continuous reporting period B. divided into discrete accounting periods C. divided into one-year time intervals OD. divided into specific points in time E. None of these QUESTION 30 On January 15, Collin paid $600 in insurance premiums...
Remalning Time: 2 hours, 33 minutes, 36 seconds. Question Completion Status: For the next 6 questions...
Remalning Time: 2 hours, 33 minutes, 36 seconds. Question Completion Status: For the next 6 questions suppose the following data: Balance Sheet 30,000 Accruals 70,000 Accounts Payable Cash & MS Receivables Inventories Fixed Assets Total Assets 120,000 Notes Payable 480,000L-T Liabilities 700,000 Common Equity 20,000 60,000 80,000 140,000 400,000 700,000 Total Annual Sales $1,400,000 Cost of Goods Sold $960,000 Net Income$63,000 Number of Shares Outstanding 30,000 What is the current ratio of the firm? ○ 1225 0 1.375 O 1.875...
Question Completion Status: O False QUESTION 18 Which of the following changes will decrease the value...
Question Completion Status: O False QUESTION 18 Which of the following changes will decrease the value of common stock, other things being held constant? The required return decreases. In general, investors become more risk averse. The dividend growth rate increases. None of the above. QUESTION 19 Taman Inn unnid en dividend in its namman Annhaldam Vam lan tanumhana tha Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Ansi Question Completion...
1 J , 13 Secunos, Question Completion Status: 10000 20000 5000 37000 Cash Accounts Receivable Supplies...
1 J , 13 Secunos, Question Completion Status: 10000 20000 5000 37000 Cash Accounts Receivable Supplies Land Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense 11000 3000 44000 7000 15000 35000 6000 7000 100000 100000 Prepare a statement of Retained Earnings to get the ending retained earnings. Don't forget you have to do an income statement before you can do the statement of retained earnings. Negative ($8000) $14,000 $7000 None of the above...
please Help me!! Remaining Time: 3 hours, 11 minutes, 53 seconds. Question Completion Status: QUESTION 1...
please Help me!!
Remaining Time: 3 hours, 11 minutes, 53 seconds. Question Completion Status: QUESTION 1 The following information is for Bright Eyes Auto Supplies: Bright Eyes Auto Supplies Balance Sheet December 31, 2015 $ 40,000 80,000 100,000 140,000 180,000 250.000 Accounts Payable Salaries and Wages Payable Mortgage Payable Total Liabilities Cash Prepaid Insurance Accounts Receivable Inventory Land Held for Investment Land Buildings $200,000 Less Accumulated Depreciation (60.000 Trademark Total Assets $ 130,000 50,000 150.000 330,000 Common Sock Retained Earnings...
ASU Home My ASU Colleges & Schools Map& Organizations Help QUESTION 17 Which items below would...
ASU Home My ASU Colleges & Schools Map& Organizations Help QUESTION 17 Which items below would result in net cash flow from operating activities being higher than net income? O Decrease in accounts payable and increase in prepaid expenses. O Decrease in accrued liabilities and increase in inventory. O Increase in accrued liabilities and increase in inventory. O Increase in accounts payable and decrease in accounts receivable. QUESTION 18 Which items below would result in net cash flow from operating...
what is the current ratio for ABC? courses/ 35017 1/ct/outline Question Completion Status: Use the following...
what is the current ratio for ABC?
courses/ 35017 1/ct/outline Question Completion Status: Use the following ABC Company Balance Sheet for questions 5-7 S 3,000 Cash 5,000 Accounts Payble Accounts Receivable Short term notes 2,000 1,000 1,000 4,000 Current portion of LTD Inventory 12,000 1,000 Other Other S 7,000 22,000 Total Current Liabilities Total Current Assets Long Term Debt 14,000 PP&E 15,000 S 21,000 Total Liabilities Accumulated Depreciation 2,000 13,000 PP&E, net Common Stock 6,000 14.000 Retained Earnings Total Stockholder's...
QUESTION 26 Which of the following organizations issues accounting standards for countries outside the United States?...
QUESTION 26 Which of the following organizations issues accounting standards for countries outside the United States? A. GAAP OB. SEC OC. FASB O DIASB QUESTION 27 Generally accepted accounting principles A. are sound in theory but rarely used in real life. OB. are accounting rules formulated by the Internal Revenue Service. C. have eliminated all errors in accounting, D. are accounting rules that are recognized as a general guide for financial reporting. QUESTION 28 The agency of the United States...
QUESTION 36 hich of the following is false related to accounting standard setting? A. The FASB Codification created the new GAAP that we use today. B. The EITF reduces the risk of scandals by addressing emerging issues in financial reporting and providing guidance. C. The SEC could allow the IASB to set US accounting standards. D. Due process refers to the process whereby the FASB solicits feedback from various constituents prior to the rules being finalized.
Question Completion Status: Which of the following is NOT a part of generally accepted accounting principles? A FASB Accounting Standards Updates B. AICPA Research Analysis OC. CAP Accounting Research Buletins D.APB Opinions QUESTION 11 2.5 points Save Araw A statement of stockholders' equity includes a column for each of the following except A net income Bretained earnings C. Long-term Liabilities D. accumulated other comprehensive income QUESTION 12 1.5 points Save Answer Which organization issues Accounting Standards Updates? A. Financial Accounting...
Question Completion Status: QUESTION 28 Under the cash basis of accounting, revenues are recognized in the period of cash re True False QUESTION 29 For purposes of reporting the results of operations, the life of a business is: A. considered to be one continuous reporting period B. divided into discrete accounting periods C. divided into one-year time intervals OD. divided into specific points in time E. None of these QUESTION 30 On January 15, Collin paid $600 in insurance premiums...
Remalning Time: 2 hours, 33 minutes, 36 seconds. Question Completion Status: For the next 6 questions suppose the following data: Balance Sheet 30,000 Accruals 70,000 Accounts Payable Cash & MS Receivables Inventories Fixed Assets Total Assets 120,000 Notes Payable 480,000L-T Liabilities 700,000 Common Equity 20,000 60,000 80,000 140,000 400,000 700,000 Total Annual Sales $1,400,000 Cost of Goods Sold $960,000 Net Income$63,000 Number of Shares Outstanding 30,000 What is the current ratio of the firm? ○ 1225 0 1.375 O 1.875...
Question Completion Status: O False QUESTION 18 Which of the following changes will decrease the value of common stock, other things being held constant? The required return decreases. In general, investors become more risk averse. The dividend growth rate increases. None of the above. QUESTION 19 Taman Inn unnid en dividend in its namman Annhaldam Vam lan tanumhana tha Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Ansi Question Completion...
1 J , 13 Secunos, Question Completion Status: 10000 20000 5000 37000 Cash Accounts Receivable Supplies Land Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense 11000 3000 44000 7000 15000 35000 6000 7000 100000 100000 Prepare a statement of Retained Earnings to get the ending retained earnings. Don't forget you have to do an income statement before you can do the statement of retained earnings. Negative ($8000) $14,000 $7000 None of the above...
please Help me!!
Remaining Time: 3 hours, 11 minutes, 53 seconds. Question Completion Status: QUESTION 1 The following information is for Bright Eyes Auto Supplies: Bright Eyes Auto Supplies Balance Sheet December 31, 2015 $ 40,000 80,000 100,000 140,000 180,000 250.000 Accounts Payable Salaries and Wages Payable Mortgage Payable Total Liabilities Cash Prepaid Insurance Accounts Receivable Inventory Land Held for Investment Land Buildings $200,000 Less Accumulated Depreciation (60.000 Trademark Total Assets $ 130,000 50,000 150.000 330,000 Common Sock Retained Earnings...
ASU Home My ASU Colleges & Schools Map& Organizations Help QUESTION 17 Which items below would result in net cash flow from operating activities being higher than net income? O Decrease in accounts payable and increase in prepaid expenses. O Decrease in accrued liabilities and increase in inventory. O Increase in accrued liabilities and increase in inventory. O Increase in accounts payable and decrease in accounts receivable. QUESTION 18 Which items below would result in net cash flow from operating...
what is the current ratio for ABC?
courses/ 35017 1/ct/outline Question Completion Status: Use the following ABC Company Balance Sheet for questions 5-7 S 3,000 Cash 5,000 Accounts Payble Accounts Receivable Short term notes 2,000 1,000 1,000 4,000 Current portion of LTD Inventory 12,000 1,000 Other Other S 7,000 22,000 Total Current Liabilities Total Current Assets Long Term Debt 14,000 PP&E 15,000 S 21,000 Total Liabilities Accumulated Depreciation 2,000 13,000 PP&E, net Common Stock 6,000 14.000 Retained Earnings Total Stockholder's...
QUESTION 26 Which of the following organizations issues accounting standards for countries outside the United States? A. GAAP OB. SEC OC. FASB O DIASB QUESTION 27 Generally accepted accounting principles A. are sound in theory but rarely used in real life. OB. are accounting rules formulated by the Internal Revenue Service. C. have eliminated all errors in accounting, D. are accounting rules that are recognized as a general guide for financial reporting. QUESTION 28 The agency of the United States...
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