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xeze [42]
3 years ago
6

Which statement is true about reporting receivables on the balance sheet?

Business
1 answer:
MAVERICK [17]3 years ago
3 0
<h3>Answer:</h3>

D. Allowance for Doubtful Accounts is shown as a deduction from Accounts Receivable on the balance sheet.

<h3>Explanation:</h3>
  • Balance sheet is a statement of account that shows the number of assets, liabilities, capital and net profit or loss in an organisation.
  • Receivables refers to the amount that the seller ios owed by the customers or buyers.
  • Therefore, receivables are current assets in a business and are listed on the left side of the balance sheet.
  • Allowance for doubtful accounts is listed as a deduction below the accounts receivable as it is a reduction of the total amounts on accounts receivable.
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The balance sheet for Gelher Company reports the following information on July 1, 2022. GELHER COMPANY Balance Sheet (partial) L
d1i1m1o1n [39]

Answer:

Explanation:

The journal entry is shown below:

Bonds payable A/c Dr $2,000,000

Loss on early retirement on bonds A/c Dr $85,000

         To Cash A/c $2,040,000                           ($2,000,000 × 1.02)

         To Discount on bonds payable A/c $45,000

(Being the redemption of bond is recorded)

The loss on early retirement on bond is computed below:

= $2,040,000 - $1,955,000

= $85,000

8 0
3 years ago
Which of the following is an example of groupthink? A. Everyone on the team agrees with whatever you have to say with very limit
Mekhanik [1.2K]

Groupthink is <u>a psychological phenomenon that occurs in groups, where people have a tendency to conform to whatever the group has to say, and thus lead to irrational behaviors and decisions. </u>

Thus, the best answer for the question would be (A) everyone on the team agrees with whatever you have to say with very limited discussion.

6 0
3 years ago
Read 2 more answers
Capricorn Creative Inc., a U.S.-based advertising firm, was the first in the advertising industry to identify the growth potenti
Salsk061 [2.6K]

Answer:

The correct answer is option A ,first mover advantage.

Explanation:

First mover advantage is form of leading strategy where a firm is the first to identify the opportunities hidden in a particular industry or geography,thereby unlocking the potentials in order to improve its financial performance business-wide.

This is a form of diversification, as putting one's eggs in one basket is not a sustainable way to grow the business in the long-term.

Even though there are risks involved in been a first mover, the benefits sometimes outweigh the risks.

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3 years ago
Publications reporting total return data for an investment should use the recommended reporting period of:______.
Bezzdna [24]

 Publications reporting total return data for investment should use the recommended reporting period of 1 year, 5 years, and the lesser of 10 years of the life of the investment

The definition of investment is an asset that is purchased or invested to build wealth and save money from hard-earned income or capital appreciation. The importance of investment is primarily to gain an additional source of income or to make a profit from the investment over a period of time.

Time deposits are primarily investments in banks. A fixed interest rate is paid and the original investment funds are returned to the depositor at maturity. Example: Mr. B deposited her $1 million in her XY bank. XY Bank pays interest at 10% per annum.

Investments generally fall into three main categories: stocks, bonds, and cash equivalents. Each bucket has different types of investments. Here are six types of investments you can consider for long-term growth and what you need to know about each.

Learn more about investment here

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8 0
1 year ago
Evaluate this statement: "If the yield of two bonds having equal maturity changes the same amount, the price of the lower coupon
AfilCa [17]

Answer:

FALSE

Explanation:

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We must understand that in the end of the life of a bond(maturity), the value should always match the face value thus, the difference in bond market price arise from coupon payment.

If a bonds coupon payment is 40 dollars while another bond coupon payment  is 80 dollars the present value of the second will be more influenced from the interest rate as there are more dollars in the future to discount.

8 0
3 years ago
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