An example of a long-term liability would be that of a bond and a mortgage. (b) What is a bond? Bonds are an obligation repays a principal amount at a future date, but pay interest on an annual basis. 8. Contrast these types of bonds: (a) Secured and unsecured.
There would be no carryover of balances of temporary accounts (which is why these accounts are called temporary accounts). If the temporary accounts weren’t closed, the actual revenues/expenses of the previous term(s) would be overstated. (2) The expense/revenue accounts would be closed to another temporary account called the Income Summary account which would also be closed to Retained Earnings. The Income Summary would be credited for any revenues and would be debited for any expenses. Example of the closing of an expense account + Supplies expense in the form of a journal entry: DateAccount titles/DescriptionDebitCredit Dec-31 Income summary(debit) $1 Supplies expense (Credit) $1 1.
A primary argument against revaluation is the lack of objectivity in arriving at current cost estimates, particularly for old assets that either will or cannot be replaced with similar assets or for which no comparable or similar assets are currently available for purchase. Discuss the qualitative concept of comparability. In your opinion, would the financial statements of companies operating in one of the foreign countries listed above be comparable to a U.S. company's financial statements? Explain. Countries including Australia, Brazil, England, Mexico, and Singapore, permit the revaluation of property, plant, and equipment to their current cost as of the balance sheet date, so does this affect the qualitative concept of comparability to U.S. companies’ financial statements?
Debenture bonds Face Value of bond Secured bonds Face rate of Interest Convertible bond Issue price Callable bond 1. Debentures bonds- is debt instrument that is not secured by physical assets or collateral. Debentures bonds backed by the general credit of the company. 2. Secured bonds - is secured by a specific collateral of the company.
Which of the following statements is true? A. The exchange of stock for services rendered is not a taxable transaction. B. The repeal of Sec.
A check "payable to the order of bearer" is neither an order instrument nor a bearer instrument. _T_ 11. Normally, if the numerical amount and the written amount on a check differ, the words outweigh the figures. _T_ 12. An instrument payable "with interest" have to specify a particular interest rate to be negotiable.
d. None of these. 7. The translation adjustment that results from translating the financial statements of a foreign subsidiary using the current rate method should be: a. included as a separate item in the stockholders' equity section of the balance sheet. b. included in the determination of net
FIN 370 FINAL EXAM Tutorial As Discussed Please get ans http://studentoffortune.com/question/1595686/Fin-370-important-tutorial 1. Which of the following is NOT the method of stock valuation? FIFO Method Weighted Average Method Specific Identification Method Straight Line Method 2.An equity instrument that is subordinate to all other classes of equity instruments is: Ordinary share Potential ordinary share Warrants Options 3.What is the treatment of Depreciation in accounting? Treated as a reserve Treated as an expense Treated as a surplus Treated as a Liability 4.Which of the following investments are recorded using Equity Method? Investments made for longer period Investments made for shorter period Investments
Debt is defined by the course text as accumulated deficits minus accumulated surpluses (Colander, 2010). Debt is considered a stock measure (defined at a certain point in time). This is in comparison to deficits and surpluses being recognized as flow measures (defined for a period of time). In economics debt is the end result of running an excessive deficit for an extended period of time. As deficits are accrued, money needs to be borrowed to cover the shortfall.
For more information, refer to Form TSP-16, Exception to Spousal Requirements (TSP-U-16 for members of the uniformed services), which is available from the TSP website, or from your agency or service. The TSP will pursue, and refer to the Department of Justice for prosecution, any person who attempts to deprive a spouse of his or her TSP rights by forging the spouse’s signature, by lying about marital status, or by taking similar fraudulent actions. If you have a court order against your account, you will not be able to get a loan. The TSP must honor certain orders, such as those that enforce payment of child support or alimony, or that award a portion of your account to a former spouse. When the TSP receives a court order, a hold is placed on your account.