Our Explanation of Working Capital and Liquidity provides you with an in-depth look at the components of working capital and the challenges of converting current assets to cash before obligations come due. You will see...
Our Explanation of Working Capital and Liquidity provides you with an in-depth look at the components of working capital and the challenges of converting current assets to cash before obligations come due. You will see...
with the liabilities. Owner's/Stockholders' Equity Wrong. Deferred credits appear with the liabilities. They are often positioned between the liabilities and owner's/stockholders' equity....
accumulated other comprehensive income This separate line within stockholders’ equity reports the corporation’s cumulative income that had been excluded from previous income statements. Examples include the results...
of subtracting a plant asset’s accumulated depreciation from the asset’s cost. book value (or) carrying value This is the result of subtracting a plant asset’s accumulated depreciation from the asset’s cost....
Our Explanation of Accounting Basics uses a simple story to introduce important accounting concepts and terminology. It illustrates how transactions will be included in a company's financial statements.
of shares of the corporation’s common stock. Mark as wrong Mark as right accumulated other comprehensive income This separate line within stockholders’ equity reports the cumulative income that has not been reported...
is credited to this account and then amortized with a credit to interest expense over the life of the bonds. Mark as wrong Mark as right straight-line amortization This is a common method for systematically moving bond...
This Quick Test" at the bottom of the page to view your grade and receive feedback on your answers. Note: Some of the following test questions may not have been covered in the Explanation or Practice Quiz for this...
the amount of retained earnings is often many times the amount of its paid-in capital. Accumulated Other Comprehensive Income Accumulated other comprehensive income is a separate line within the stockholders’ equity...
is associated with the finance function, not the main activity of buying/producing and selling. Non-operating Expense Right! Interest is associated with the finance function, which is not the main operations of the...
Since our Explanation of Cash Flow Statement illustrates how the amounts are determined, you will get a better understanding of this very important financial statement. No longer will you look at only the income...
our Standard Costing (Explanation). 1. The ingredients included in a manufactured food product are referred to as raw materials and as the product's __________ direct materials. 2. The wages of employees working on...
Our Explanation of Improving Profits will assist you in focusing on the costs and revenues that are relevant (and ignoring those which are not relevant) for improving profits and eliminating losses. Examples of the...
on notes receivable by using the straight-line method is $__________ $2,000 Discount of $4,000 divided by 2 years.. 18. If the $4,000 of discount is a significant amount in light of Company X's net income and other...
Our Explanation of Bookkeeping provides you with a rich understanding of the recording of transactions. It then discusses the additional steps necessary for preparing accurate financial statements. This is great for...
value of the note at December 31, 2023 is $__________ $17,000. Face amount of $20,000 minus the discount of $3,000.. 17. The amount of interest revenue that Company X should report in 2024, if it amortizes the discount...
Our Explanation of Working Capital and Liquidity provides you with an in-depth look at the components of working capital and the challenges of converting current assets to cash before obligations come due. You will see...
Adjusting Entries(Quick Test #3) Download PDF After you have answered all 40 questions, click "Grade This Quick Test" at the bottom of the page to view your grade and receive feedback on your answers. Note:...
This Quick Test" at the bottom of the page to view your grade and receive feedback on your answers. Note: Some of the following test questions may not have been covered in the Explanation or Practice Quiz for this...
Our Explanation of Financial Ratios includes calculations and descriptions of 15 financial ratios. As you calculate the financial ratios you will also gain a deeper understanding of a company's operations and financial...
Our Explanation of Bookkeeping provides you with a rich understanding of the recording of transactions. It then discusses the additional steps necessary for preparing accurate financial statements. This is great for...
to use straight-line depreciation on its income statement, but will use accelerated depreciation on its income tax return. This account is a non-operating or “other” expense for the cost of borrowed money or other...
This Quick Test" at the bottom of the page to view your grade and receive feedback on your answers. Note: Some of the following test questions may not have been covered in the Explanation or Practice Quiz for this...
"Grade This Quick Test" at the bottom of the page to view your grade and receive feedback on your answers. Note: Some of the following test questions may not have been covered in the Explanation or Practice...
This Quick Test" at the bottom of the page to view your grade and receive feedback on your answers. Note: Some of the following test questions may not have been covered in the Explanation or Practice Quiz for this...
This Quick Test" at the bottom of the page to view your grade and receive feedback on your answers. Note: Some of the following test questions may not have been covered in the Explanation or Practice Quiz for this...
the following information: The estimated cost of inventory to be shown on the retailer's January 31, 2024 balance sheet is $15,000 Right! Under the retail method nearly all the amounts are given and you need to...
Our Explanation of Financial Accounting introduces some of the basic accounting concepts and how they affect the income statement, balance sheet, and other financial statements.
This Quick Test" at the bottom of the page to view your grade and receive feedback on your answers. Note: Some of the following test questions may not have been covered in the Explanation or Practice Quiz for this...
Test" at the bottom of the page to view your grade and receive feedback on your answers. Note: Some of the following test questions may not have been covered in the Explanation or Practice Quiz for this topic. For...
Test" at the bottom of the page to view your grade and receive feedback on your answers. Note: Some of the following test questions may not have been covered in the Explanation or Practice Quiz for this topic. For...
Our Explanation of Financial Ratios includes calculations and descriptions of 15 financial ratios. As you calculate the financial ratios you will also gain a deeper understanding of a company's operations and financial...
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