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Dima020 [189]
2 years ago
13

Which of the following would NOT be classified as a current asset on a classified balance sheet? 答案选项组 Intangible assets Short-t

erm investments Investment securities (trading) Prepaid expenses
Business
1 answer:
Zinaida [17]2 years ago
5 0

Answer:

Intangible assets

Explanation:

A classified balance sheet is a financial statement that classifies the components in the balance sheet into different groups. For example, assets are classified into current or non current asset

Current assets are all the assets that are either used by a company or sold in the course of the year of the company.

Current assets include

  • cash, cash equivalents
  • accounts receivable
  • stock inventory
  • marketable securities
  • pre-paid liabilities

Intangible assets are classified as  noncurrent (long-term) assets

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Fudgin [204]

Answer:

$226,900

Explanation:

Calculation to determine How much cash was provided by operating activities

Using this formula

Operating activities=Net income+Depreciation-Accounts receivable + inventories increased-Prepaid expenses - accounts payable decreased

Let plug in the formula

Operating activities=$212000 + $35500 - $2100 - $7900 + $1900 - $12500

Operating activities =$226,900

Therefore The Amount of cash that was provided by operating activities is $226,900

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2 years ago
ABC Company received $9,631 for its 5-year, 10% bonds with a total face value of $10,000. The market rate of interest was 11%. T
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Answer:

The correct answer is Option A.

Explanation:

The effective interest rate (EIR) method is used when a bond is purchased at a discount or premium.

In the case of the question, the bond was purchased at $9,631 with a face value of $10,000. Interest expense is calculated as the bond price multiplied by the market rate, i.e. $9,631  x 11% = $1,059.41.

Therefore, ABC Company would record $1,059 on the first annual interest payment date using the effective-interest method.

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3 years ago
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During 2020, Leisel, a single taxpayer, operates a sole proprietorship in which she materially participates. Her proprietorship
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Answer:

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Explanation:

6 0
2 years ago
All Seasons, Inc. ordered $5,000 worth of Christmas decorations from Santa, Inc. The shipment of decorations was to arrive no la
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Answer:

C. Compensatory damages and consequential damages.

Explanation:

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A company purchased $2,300 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $450 worth of merchandise. On
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Answer:

Dr Accounts payable 1850

Cr Merchandise inventory $37

Cr Cash $1813

Explanation:

Preparation of the journal entry to record the payment on July 12 Using the gross method,

JOURNAL ENTRY

Jul-12

Dr Accounts payable ($2300-450) 1850

Cr Merchandise inventory ($1850*2%) $37

Cr Cash $1813

($1850-$37)

(Being entry recorded for payment to supplier)

7 0
2 years ago
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