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professor190 [17]
3 years ago
7

Based on your understanding of the different items reported in the balance sheet and the information they provide, which stateme

nt regarding Cold Goose Metal Works Inc.’s balance sheet is consistent with U.S. Generally Accepted Accounting Principles (GAAP)?A. The company’s debts should be listed in order of their liquidity.
B. The company’s debts are listed in the order in which they are to be repaid.
C. The company’s debts should be listed from those carrying the largest balance to those with the smallest balance.
Business
2 answers:
tigry1 [53]3 years ago
7 0

Answer:

Debts are listed in the order in which they are to be repaid

Explanation:

Balance sheet , according to the U.S Generally Accepted Accounting principles are to be arranged in a way that users can easily have an understanding of what and when is due .

To this effect specific guidelines are provided to guide the presentation of assets , liabilities and equities on the balance sheet.

Company's debts and other liabilities should be listed in the order in which they are to be repaid so that the users or management can easily discover liabilities that are about due for settlement and work towards allocating resources for the payment.

kvasek [131]3 years ago
4 0

Answer:

which statement regarding Cold Goose Metal Works Inc.’s balance sheet is consistent with U.S. Generally Accepted Accounting Principles (GAAP)

A. The company’s debts should be listed in order of their liquidity.

Explanation:

Under U.S. GAAP, assets are presented in descending order of liquidity, liabilities in ascending order of time to maturity, and equity in descending order of priority in liquidation.

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Suppose the economy begins at potential output when there is a severe and long-lasting stock market crash. In the short run we w
ANEK [815]

Answer:

Spending, production and employment to fall

Explanation:

A stock market crash brings about an economic condition of a recession or a slump.This brings out reduced economic activity and inflationary pressure builds up. This reduces purchasing powers of people and they demand less thus their spending falls. With increasing costs and less demands the firms are forced to cut down on production to combat costs and they also retrench causing unemployment.

Since the economy is at its potential output level, short term expansionary policies may not work.

Hope that helps.

5 0
3 years ago
A profit maximizing monopoly's price is
DaniilM [7]

The profit-maximizing choice for the monopoly will be to produce at the quantity where marginal revenue is equal to marginal cost: that is, MR = MC.

8 0
2 years ago
The city wants to pave the road in front of Sam Smith's house. Sam has 110 front feet. The cost to pave is $35 a linear foot and
Anna71 [15]

Answer:

$1,443.75

Explanation:

The total cost for paving Sam's portion of the road = $35 per linear foot x 110 front feet =  $3,850

If the city is going to pay 25% of the total cost, then it will pay $962.50, that would leave a total of $2,887.50 to be paid between Sam and his front neighbor. So Sam's share = $2,887.50 / 2 = $1,443.75

4 0
3 years ago
A new project would require an immediate increase in raw materials in the amount $6,000. The firm expects that accounts payable
Monica [59]

Answer:

<em>The project will increase the net working capital of the firm by $4000</em>

Explanation:

Net working capital measure how fast a company can convert its asset to cash, the networking capital can be obtained with the expression below;

net working capital (NWC) = current assets - current liabilities

Current asset = Increase in raw materials = $6,000

Current liabilities  = accounts payable increase =  $2,000

NWC= Increase in raw materials-increase in accounts payable

          =$6,000 -$2,000

           =$4000

Therefore this project will increase the net working capital of the firm by $4000

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siniylev [52]

Answer:

ethics in accounting

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3 years ago
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