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2 years ago

If an account has a credit balance it means

Business

1 answer:

Brums [2.3K]2 years ago

6 0

Answer:

If the total of your credits exceeds the amount you owe, your statement shows a credit balance. This is money the card issuer owes you. You can call your card issuer and arrange to have a check sent to you in the amount of the credit balance.

Explanation:

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The accounting for bonds payable is:_______.

sergejj [24]

Answer:

a. essentially the same under IFRS and GAAP.

Explanation:

A bond is a fixed income instrument that represents the indebtedness of the borrower to the investor or creditor (bond issuer). They're basically loans that are given to large organizations or government.

This ultimately implies that, when an investor or creditor purchases a bond, an agreed amount of money is being borrowed to the issuer as a loan. Consequently, the bond issuer is expected to pay an interest with a return of principal at maturity to the holder (investor or creditor) of the bond.

Hence, bonds payable only arises when a company issues bonds so as to generate cash for its business and plans. Thus, the company is a borrower as the bond issuer while the holder of the bond is a debt-holder (investor or creditor). This further would mean that, the company becomes liable to the investor. Therefore, bonds payable should be recorded on the long-term liability side of the balance sheet being used by the company.

Bonds are issued at par or premium or discount and as such bond issuer records the face value of the bond as bonds payable.

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, account payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), and financial accounting standards board (FASB).

The accounting for bonds payable is essentially the same under International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP).

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3 years ago

The following is a list of account titles and amounts (dollars in millions) from a recent annual report of Hasbro, Inc., a leadi

vichka [17]

Answer:

Hasbro, Inc.

Balance Sheet

Assets

Current Assets:

Cash and cash equivalents $893

Accounts receivable 1,111

Allowance for doubtful accounts (16) 1,095

Inventories 340

Prepaid expenses and

other current assets 392

Total current assets $2,720

Property, Plant, and Equipment (net):

Buildings and improvements $ 234

Land and improvements 7

Machinery, equipment, and software 504

Other noncurrent assets 658

Accumulated depreciation (509)

Property, Plant, and Equipment (net) $894

Other Assets:

Goodwill $ 593

Other intangibles 1,123

Accumulated amortization

(other intangibles) 798 325

Other assets $918

Total assets $4,532

Explanation:

a) Data and Calculations:

Current Assets:

Cash and cash equivalents $893

Accounts receivable 1,111

Allowance for doubtful accounts (16) 1,095

Inventories 340

Prepaid expenses and

other current assets 392

Total current assets $2,720

Property, Plant, and Equipment (net):

Buildings and improvements $ 234

Land and improvements 7

Machinery, equipment, and software 504

Other noncurrent assets 658

Accumulated depreciation (509)

Property, Plant, and Equipment (net) $894

Other Assets:

Goodwill $ 593

Other intangibles 1,123

Accumulated amortization

(other intangibles) 798 325

Other assets $918

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3 years ago

Your friends own a lawn care business. They own their own equipment and trailers to transport it. Eventually they buy out anothe

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Horizontal consolidation is the answer

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4 years ago

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Two methods can be used to construct a statement of cash flows: the direct method and the indirect method. Under the indirect me

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Answer:

A. two balance sheets and B. income statement

Explanation:

There are three types of activities in the cash flow statement which are described below:

1. Operating activities: It includes those transactions which affect the working capital after net income. The increase in current assets and a decrease in current liabilities would be deducted whereas the decrease in current assets and an increase in current liabilities would be added.

These changes in working capital would be adjusted. Moreover, the depreciation expense is added to the net income and the loss on sale of assets is added whereas the gain on sale of assets is deducted

2. Investing activities: It records those activities which include purchase and sale of the long term assets. The purchase is an outflow of cash whereas sale is an inflow of cash

3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance. The issue of shares is an inflow of cash whereas redemption and dividend is an outflow of cash.

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3 years ago

Cadillac is preparing to build a new assembly plant in the United States. Although it would be slightly cheaper to build cars in

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Answer:

Explanation:

Cadillac is responding to one of the geographic demographic trends in the United States, which has been migration into the Sun Belt. Building a plant in Louisiana, which is in the Sun Belt, would greatly reduce transportation cost, compared to a plant in Michigan.

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3 years ago

If an account has a credit balance it means​

If an account has a credit balance it means