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2 years ago

ASC Topic 235, Notes to Financial Statements

1 answer:

Nutka1998 [239]2 years ago

4 0

Answer: d. Requires description of all significant accounting policies to be included as an integral part of the financial statements.

Explanation:

There are several accounting and valuation policies that a company can use when presenting its financial information for the year. Companies are meant to follow the policies that would most fairly represent their assets and liabilities.

When they pick these valuation methods, it is important that the people who study their financial statements know the valuation and accounting methods used so that they can understand the figures.

To this end, ASC Topic 235 requires that the company should include the significant accounting policies that it used as notes so that financial statement users understand how the company reached the figures it recorded.

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A bond with a face value of $1,000 that sells for $1,000 in the market is called a _____ bond.

sleet_krkn [62]

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2 years ago

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Balance sheet and income statement data indicate the following: Bonds payable, 6% (issued 2000, due 2020) $1,200,000 Preferred 8

9966 [12]

Answer:

The correct option is A,5.72 times

Explanation:

The number of times that interest charges gives a sense of how financial stable is in its ability to pay interest on bonds as at when due.It is key consideration for prospective bondholders when assessing whether to buy bonds in a particular company

Number of times interest charges earned=net income before interest/interest

net income before interest charges=net income+interest charges

net income is $340,000

interest charges=$1,200,000*6%=$72,000

net income before interest charges=$340,000+$72,000=$412,000

number of times interest was earned=$412,000/$72,000=5.72

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2 years ago

Customer World expects the credit card company to deposit funds in their business account for their sales where a customer uses

Murljashka [212]

Answer:

$88.75

Explanation:

Customer World expects the credit card company to deposit funds in their business account for their sales where a customer uses a credit card to pay. If Customer World earned $90 from a sale and the transaction fee was $1.25, the Customer World should expect $88.75 to be deposited into his business bank account by the credit card company.

I hope the answer is helpful.

Thanks for helping.

3 0

3 years ago

A document which shows how much a customer has to pay, for what and by when

blondinia [14]

Answer:

A Bill

Explanation:

A bill is a request for payment. A bill is usually considered from the customer's standpoint. It's common to receive a bill without an invoice, as in a restaurant or retail store. A bill is usually given with the expectation of immediate payment.

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3 years ago

Red when choosing a form of ownership

siniylev [52]

Answer:

see below

Explanation:

1. Private Limited Company

A private limited company is an acknowledged legal entity whose shares are held privately by the founders. The shareholders are the owners. They are not allowed to trade their shares to the public through the security exchange. SHINING STAR BUS COMPANY (PTY) Ltd is currently a limited private company. Transfer of shares has to be between the existing shareholders, the bus company, and requires authorization. The shareholders have limited liability to the company's debts and are entitled to a share in the company profits.

2. Public Limited Company

A public limited company is recognized as a legal and separate entity from its owners. Unlike a private limited company, the shares of a public limited company are traded in the security exchange markets. It means ownership of a public company is open to the public. The management of SHINING STAR BUS COMPANY (PTY) Ltd wants to convert it to a public limited company. After the conversion, its shares will be traded at the Johannesburg Security Exchange(JSE).

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2 years ago