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If a financial instrument is classified as a cash flow hedge, then Multiple Choice ) its gains or losses are repres...
PART A The allowance for credit losses account is classified as Multiple Choice a contra-revenue account....
PART A The allowance for credit losses account is classified as Multiple Choice a contra-revenue account. a contra-equity account. a contra-asset account. a contra-expense account. PART B An analyst notes that ABC Inc.’s allowance for credit losses as a percentage of year-end accounts receivable has changed. Which of the following would not be a plausible explanation for the change? Multiple Choice ABC’s management is using the allowance for credit losses to “manage” earnings. The company ages its receivables and the...
Financial Accounting questions multiple choice about the chapter ( Cash & Investments ) 1) On September...
Financial Accounting questions multiple choice about the chapter ( Cash & Investments ) 1) On September 30, 20x6, Riches Inc. made three investments: 1221 shares of Wendle Inc., 4175 shares of Sam International, and 823 shares of Hinter Inc. The shares of Wendle Inc. and Hinter Inc. are classified as FVTPL and the shares of Sam International are classified as FVTOCI. The market price per share is as follows: Wendle Inc. Sam International Hinter Inc. Sept. 30, x6 $12.85 $5.73...
1.Long-term debt: Multiple Choice consists of monetary obligations that fall due beyond two years from the...
1.Long-term debt: Multiple Choice consists of monetary obligations that fall due beyond two years from the balance sheet date. when issued, is carried at an amount based on the proceeds received. usually has an effective yield that is much different than the cost of borrowing. never has any portion classified as a current liability. 2.Current liabilities are reported on the balance sheet at: Multiple Choice current market value. historical cost. discounted present value. future value. 3.The Additional Paid-In Capital account...
Financial Accounting questions multiple choice about the chapter ( Cash & Investments ) 1) The following...
Financial Accounting questions multiple choice about the chapter ( Cash & Investments ) 1) The following information regarding the cash activities of Roves Ltd. for the month of April 20x5 is given below: Cash balance per books, April 1 $2522 Cash received during April 53427 Cash payments made during April 38371 NSF cheques from customers shown on the bank statement 1580 Bank service charges 578 In preparing the bank reconciliation for the month of April, what is the adjusted cash...
The following pretax amounts are taken from the adjusted trial balance of Avoca Auto Corp. at...
The following pretax amounts are taken from the adjusted trial balance of Avoca Auto Corp. at December 31, 2020, its annual year-end. Sales revenue $260,000 Cost of goods sold 110,000 Operating expenses 80,000 Gain on debt retirement 20,000 Interest expense 8,000 Loss from discontinued operations 50,000 Retained earnings balance, December 31, 2019 30,000 Dividends declared and paid 25,000 Unrealized holding gain on debt investment securities, net of tax 4,000 Common stock, weighted average shares outstanding 10,000 shares Required a. Prepare...
Need help in analysis the below Debt Investment paragraph. DEBT INVESTMENTS We consider all highly liquid...
Need help in analysis the below Debt Investment paragraph. DEBT INVESTMENTS We consider all highly liquid debt investments with original maturities from the date of purchase of three months or less as cash equivalents. Cash equivalents can include investments such as corporate debt, financial institution instruments, government debt,and reverse repurchase agreements.Marketable debt investments are generally designated as trading assets when a market risk is economically hedged at inception with a related derivative instrument, or when the marketable debt investment itself...
On December 31, 2020, Tobita Company had the following balances reported on its balance sheet: Notes...
On December 31, 2020, Tobita Company had the following balances reported on its balance sheet: Notes Receivable $17,700 Interest Receivable $97.00 The following information is available for the notes receivable reported on December 31, 2020. Customer Note Principal Interest Rate Issue Date Term Interest Accrued 1 E. Tessier $5,100 5.00% Nov. 1, 2020 3 months $42.50 2 R. Wolde 5,100 4.00% Nov. 30, 2020 5 months 17.00 3 D. Deng 7,500 6.00% Dec. 1, 2020 1 year 37.50 Total $17,700...
Fair Value Measurements The fair values of our financial assets and liabilities as of December 26,...
Fair Value Measurements The fair values of our financial assets and liabilities as of December 26, 2015 and December 27, 2014 are categorized as follows: 2015 2014 Assets(a) Liabilities(a) Assets(a) Liabilities(a) Available-for-sale securities: Equity securities (b) $ 127 $ - $ 124 $ Debt securities (c) 7,231 - 3,167 $ 7,358 $ - $ 3,291 $ Short-term investments (d) $ 193 $ - $ 197 $ - Prepaid forward contracts (e) $ 27 $ - $ 26 $ Deferred compensation...
Stocks that pay relatively large cash dividends on a regular basis are called: Multiple Choice Small...
Stocks that pay relatively large cash dividends on a regular basis are called: Multiple Choice Small capital stocks. Mid capital stocks. Growth stocks. Large capital stocks. Income stocks. The amount of annual cash dividends distributed to common shareholders relative to the common stock's market value is the: Multiple Choice Dividend payout ratio Dividend yield Price-earnings ratio. Current yield Earnings per share. Corporations may buy back their own stock for any of the following reasons except to: Multiple Choice Avoid a...
On December 31, 2020, Tobita Company had the following balances reported on its balance sheet: Notes...
On December 31, 2020, Tobita Company had the following balances reported on its balance sheet: Notes Receivable Anterest Receivable $14,100 $75.50 The following information is available for the notes receivable reported on December 31, 2020. Interest Rate 1 Note Principal $3.000 3.000 8.100 Interest Accrued $25.00 Customer E. Tessier R. Wolde D. Deng Total Issue Date Nov. 1. 2020 Nov. 30. 2020 Dec. 1. 2020 Term 3 months 5 months 5.0096 4.00% 6.0096 2 3 1 year 10.00 40.50 $75.50...
The following pretax amounts are taken from the adjusted trial balance of Avoca Auto Corp. at December 31, 2020, its annual year-end. Sales revenue $260,000 Cost of goods sold 110,000 Operating expenses 80,000 Gain on debt retirement 20,000 Interest expense 8,000 Loss from discontinued operations 50,000 Retained earnings balance, December 31, 2019 30,000 Dividends declared and paid 25,000 Unrealized holding gain on debt investment securities, net of tax 4,000 Common stock, weighted average shares outstanding 10,000 shares Required a. Prepare...
Fair Value Measurements The fair values of our financial assets and liabilities as of December 26, 2015 and December 27, 2014 are categorized as follows: 2015 2014 Assets(a) Liabilities(a) Assets(a) Liabilities(a) Available-for-sale securities: Equity securities (b) $ 127 $ - $ 124 $ Debt securities (c) 7,231 - 3,167 $ 7,358 $ - $ 3,291 $ Short-term investments (d) $ 193 $ - $ 197 $ - Prepaid forward contracts (e) $ 27 $ - $ 26 $ Deferred compensation...
Stocks that pay relatively large cash dividends on a regular basis are called: Multiple Choice Small capital stocks. Mid capital stocks. Growth stocks. Large capital stocks. Income stocks. The amount of annual cash dividends distributed to common shareholders relative to the common stock's market value is the: Multiple Choice Dividend payout ratio Dividend yield Price-earnings ratio. Current yield Earnings per share. Corporations may buy back their own stock for any of the following reasons except to: Multiple Choice Avoid a...
On December 31, 2020, Tobita Company had the following balances reported on its balance sheet: Notes Receivable Anterest Receivable $14,100 $75.50 The following information is available for the notes receivable reported on December 31, 2020. Interest Rate 1 Note Principal $3.000 3.000 8.100 Interest Accrued $25.00 Customer E. Tessier R. Wolde D. Deng Total Issue Date Nov. 1. 2020 Nov. 30. 2020 Dec. 1. 2020 Term 3 months 5 months 5.0096 4.00% 6.0096 2 3 1 year 10.00 40.50 $75.50...
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