Questions tagged 'Accounting'
72 questions
P. jameson co. sold $500 of merchandise on master card credit sales. the net cash receipts from the sale are immediately deposited
P. Jameson Co. sold $500 worth of merchandise through MasterCard credit sales. The net cash receipts from this sale are immediately deposited into the seller's bank account. MasterCard charges a 4% fe...
On November 1, Jovel Company loaned another company $130,000 at a 9.0% interest rate. The note receivable plus interest will not be
On November 1, Jovel Company provided a loan of $130,000 to another company at an annual interest rate of 9.0%. The note receivable, along with the accrued interest, is scheduled to be collected on Ma...
When projecting future cash flows of an investment a. cash inflows and outflows are treated separately, rather than being netted
When projecting future cash flows of an investment: a. Are cash inflows and outflows treated separately rather than being netted together? b. Are cash flows projected by accounting personnel alone, wi...
Accounting study guide question?? Wouldn’t it offset the current assets?
Which statement regarding negative cash balances is true? A) The amount is shown as a current liability, as a company cannot have a cash balance below zero. B) The company must obtain a loan to bring...
Following are selected transactions for vitalo company. nov. 1 accepted a $6,000, 180-day, 8% note dated november 1 from kelly white
Following are selected transactions for Vitalo Company: On November 1, Vitalo Company accepted a $6,000, 180-day, 8% note dated November 1 from Kelly White as a time extension on her past-due account...
what is the total stockholders equity based on the following data?
What is the total stockholders' equity based on the following information? Common Stock: $800,000 Excess of Issue Price over Par: $375,000 Retained Earnings (Deficit): $50,000 Could you please h...
Nov 29, 2024
is deferred gain an asset or liability?
"Can someone clarify whether a deferred gain is classified as an asset or a liability on the financial statements? I’m trying to understand its proper accounting treatment and how it should be recorde...
Harvey quit his job at State University where he earned $45,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial
Harvey quit his job at State University, where he earned an annual salary of $45,000. He estimates his entrepreneurial talent or forgone entrepreneurial income to be $5,000 per year. To start his busi...
Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,760,000. The project was begun
Beavis Construction Company was the lowest bidder on a project to construct an earthen dam, with a total bid amount of $1,760,000. The project commenced in 2020 and was completed in 2021. Below is the...
If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, Group of answer choices Common Stock will be credited for
If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, how will the accounts be affected? Please select the correct answer from the following options: Common Stock will be credite...