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alexandr1967 [171]
2 years ago
12

Match each of the following accounts to its proper balance sheet classification.

Business
1 answer:
loris [4]2 years ago
4 0

The matching of the accounts to its proper balance sheet classification are : Current Assets, Current liabilities and Intangible Asset.

<h3>What is a balance sheet?</h3>

A balance sheet is a snapshot of a company's financial health. The balance sheet gives details of assets and liabilities of a company at a specific point in time.

Balance sheet are classified so that they can be easy to read and information extracted.

<h3>Balance sheet classification are :</h3>
  1. Accounts payable - Current Liabilities
  2. Accounts receivable - Current assets
  3. Accumulated depreciation -  Long-term current asset
  4. Buildings - Fixed asset
  5. Cash - Current Liabilities  
  6. Goodwill - Intangible asset
  7. Income taxes payable - Current liabilities
  8. Investment in long-term bonds - Current asset
  9. Land - Fixed asset
  10. Inventory - Intangible asset
  11. Patent - Intangible asset
  12. Supplies - Current asset

Learn more here about balance sheet classification here : brainly.com/question/9452212

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The Allowance for Doubtful Accounts account has a year-end credit balance, prior to adjustment, of $450. The bad debts are estim
Eddi Din [679]

Answer:$19500

Explanation:

The provision for doubtful debts accounts is an account that shows the amount of estimated debts that are expected to go bad at the end of the year. The estimated amount at the end of a year is debited to income account, credited to debtors account and left as a credit balance on the provision for doubtful debts accounts.

If at the end of a new year a new estimate is made which differs from the current estimated figure, then the account is adjusted to show the entire new estimate and that is why the answer to the question is 3% of $650,000 = $19,500.

5 0
3 years ago
Suppose you receive at the end of each year for the next three years. a. If the interest rate is ​, what is the present value of
Furkat [3]

Answer:

the question is missing the numbers, so I looked for a similar question:

Suppose you receive $100 at the end of each year for the next three years. a. If the interest rate is 8%, what is the present value of these cash flows? (Answer: $257) b. What is the future value in three years of the present value you computed in (a)? (Answer: $324.61) c. Suppose you deposit the cash flows in a bank account that pays 8% interest per year. What is the balance in the account at the end of each of the next three years (after your deposit is made)? How does the final bank balance compare with your answer in (b)?

a) PV = $100/1.08 + $100/1.08² + $100/1.08³ = $257.71

b) FV = $257.71 x (1 + 8%)³ = $324.64

c) FV = ($100 x 1.08²) + ($100 x 1.08) + $100 = $324.64

it is exactly the same as the answer for (b)

5 0
3 years ago
E16-4. On January 1.2013, when its $30 par value common stock was selling for $80 per share, Plato Corp. issued $10,000,000 of 8
coldgirl [10]

Answer:

A. Dr Cash Account $10,800,000

Cr To Bonds Payable $10,000,000

Cr To Premium Payable $800,000

B.Dr Bonds Payable account $3,000,000

Dr Premium on bonds payable Debited $2,700,000

Cr To Common Stock $7,500

Cr Additional paid in capital $5,692,500

Explanation:

(a) Preparation of the journal entry to record the original issuance of the convertible debentures

Dr Cash Account $10,800,000

Cr To Bonds Payable $10,000,000

Cr To Premium Payable $800,000

($10,000,000*8/100=$800,000)

(Being issue of share on convertible debenture)

b.Preparation of the journal entry to record the exercise of the conversion option, using the book value method

Dr Bonds Payable account $3,000,000

Dr Premium on bonds payable Debited $2,700,000

Cr To Common Stock $7,500

Cr Additional paid in capital$5,692,500

($3,000,000+$2,700,000-$7,500)

(Being maintain the record of outstanding conversation of debenture)

Calculation for for BONDS CONVERTED

First step is to calculate the amortization for 2013

Amortization for 2013=$10,000,000/20

Amortization for 2013=$500,000

Second step is to calculate the amortization for 2014

Amortization for 2014=$10,000,000/20

Amortization for 2014=$500,000

Third step is to Calculate the premium on bonds payable

Premium on bonds payable=$10,000,000−($500,000+$500,000)

Premium on bonds payable=$9,000,000

Now let calculate the bonds converted

Bonds converted=$9,000,000×30/100

Bonds converted=$2,700,000

Calculation for COMMON STOCK

First step is to calculate the number of bonds

Number of bonds=$10,000,000/1000

Number of bonds=10,000

Second step is to calculate Price for the bond

Price for the bond=10,000×5

Price for the bond=50,000

Third step is to Calculate for Stock Split

Stock Split=50,000/2

Stock Split=25,000

Now let calculate the common stock

Common stock=25,000×30/100

Common stock=7,500

Calculation for BONDS PAYABLE

Bonds Payable=10,000,000×30/100

Bonds Payable=3,000,000

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3 years ago
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HACTEHA [7]
A private company, the company's stock, or its net is spread amongst few people, usually people close to the CEO/Owner.
A public company, the company's stock is available to purchase to anyone, and can be spread world wide.
8 0
2 years ago
While inserting an array function the excel user must press
hichkok12 [17]

Control+Shift+Enter

Array functions in excel are powerful tools sometimes refereed to as "CSE" functions because you have to press Control+Shift+Enter in order to enter them in your worksheet.

6 0
3 years ago
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