Is any special accounting treatment required for the assigning of accounts receivable in general as collateral for debt?

Q: Describe the accounting for refund liabilities.

A: Liabilities:   The liabilities are the amount of money which a business has to pay to the outside…

Q: How do IFRS and U.S. GAAP differ with respect to the classification of debt that is expected to be…

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Q: Why are warranty liabilities usually recognized on the balance sheet as liabilities even when they…

A: A warranty liability is a liability account that reports the estimated amount that a company will…

Q: Characterize the accounting treatment of notes, including installment notes, issued for cash or for…

A: Introduction Notes are the short term financial instrument, also called as Promissory Notes, that…

Q: How should discount on bonds payable be reported on the financial statements? Premium on bonds…

A: Concept: A premium on bonds occurs if, the bonds are issued at a high price than the face value. On…

Q: Would accounting differ if the debt were designated as notes rather than bonds?

A: A bond indenture is a paper certificate or a document which describes specific promises made to the…

Q: What is the distinction between debtor and creditor?

A: Accounts receivable Accounts receivable refers to the amounts to be received within a short period…

Q: How is periodic interest determined for outstanding liabilities? For outstanding receivables? How…

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Q: Debt issuance costs are: Accounted for as a deduction from the equity balance on the balance sheet…

A: Equity, liabilities, and assets are part of the balance sheet of a company.  The balance sheet is…

Q: what are the sources of debt financing?

A: debt financing: it the amount of money borrowed by he firm to run the business.

Q: What does it mean for CHS to securitize its receivables?

A: Compensating balance: A compensating balance is a minimum amount of cash that must be maintained by…

Q: Explain in detail what is debt or debt financing? Examples

A: In a debt arrangement, one party is allowed to borrow some amount from other party as per given…

Q: what reporting categories are used to account for debt investments?

A:

Q: Why debtors control account may have credit balance

A: DEBTOR CONTROL ACCOUNT- IT REFLECTS THE TOTAL AMOUNT OWNED BY ALL THE INDIVIDUAL DEBTORS. THE…

Q: describe the role of debt covenants in protecting creditors;

A: Debt covenants are restrictions that lenders (creditors, debt holders, investors) put on lending…

Q: Notes receivable differ from accounts receivable in that notes receivable represent written debt…

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Q: A long-term note receivable should be disclosed in Other Assets in a classified balance sheet

A: Answer: Balance sheet consists of assets and liabilities and the classification of assets and…

Q: explain the derecognition of debt;

A: Derecognition of debt As bonds are issued, then an entity may leave a bond that is outstanding till…

Q: o methods of accounting for bad debts? Wh

A: 1.The direct write-off method 2. allowance method.   In the direct write-off method, an allowance…

Q: What type of account is Discount on Bonds Payable? What is its normal balance? Is it added to or…

A: Bonds Payable: Bonds payable are referred to long-term debts of the business, issued to various…

Q: Accounting The procedure that best reveals the existence of contingent debts is

A: Contingent liability is a liability that may or may happen on a future date that is based on an…

Q: When should a debt security be classified as held-tomaturity?

A: Debt securities: Debt security is money borrowed at a specific rate of interest which must be repaid…

Q: What accounting theory is applied in the treatment of interest of non-interest bearing notes?…

A: Solution Concept Non interest bearing notes                 Non interest bearing notes means the…

Q: Must bad debt expense be reported on its own line on the income statement? If not, how should it be…

A: Bad debts expense: The amounts of loss incurred from extending credit in the customer’s account are…

Q: How should a debt callable by the creditor be reported inthe debtor’s financial statements?

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: Differentiate between the use of receivables in financing arrangements accountedfor as a secured…

A: Meaning of Financing with Receivable Financing receivable is refer as the arrangement in which…

Q: Financial Statement Focuses on accounting for liabilities and non-owner financing. Consider how…

A: The study of accounting is based on some fundamental accounting principles, concepts or conventions.…

Q: Is notice requirement required before filing a case in escheat proceedings for unclaimed balances?…

A: Escheat refers to the right of the government to take ownership of unclaimed property or unclaimed…

Q: Which of the following is a long term financial instrument? a. Certificate of deposit. O b.…

A: Funds based on period are: Short term funds Long term funds.

Q: What are current and noncurrent accounts among the following: - Deposit Liabilities - Bills…

A: Current liabilities are those Liabilities which are to be repaid within one year.. Any Liabilities…

Q: How are gains and losses from extinguishment of a debt classified in the income statement? What…

A: Bonds payable: A legal contract for a long-term debt made between the lender and the beneficiary;…

Q: What are the essential characteristics of liabilities for purposes of financial reporting?

A: LiabilitiesLiabilities are referred to as the obligations of the business towards the creditors for…

Q: What is meant by the term notes payable?

A: Notes payable is an account that details the specifics of a borrowed amount in note form. Its a…

Q: As a general rule, how should long-term liabilities be reported on the debtor’s balance sheet?

A:

Q: What is meant by Provision for Discount on Debtors and Reserve for Discount on Creditors.

A: Provision for discount on debtors: Discount is allowed for debtors when payment is made with in…

Q: Due to banks Deposits from customers Other liabilities Subordinated debt Taxation classify it into…

A: current liabilities - current liabilities should be repaid by the company within one year. examples…

Q: In financial accounts, how are interfund transactions accounted for

A: An accounting firm's financial statements serve as concise summaries of its activities, conveyed…

Q: Trade receivables are preferably presented on the face of the statement of financial position Select…

A: Solution: Trade receivables are the receivables arises from sales of goods or Sales of services.…

Q: What does the disclosure note for debt includes?

A: Debt securities: The financial instruments which are bought by investors, or corporations, or mutual…

Q: Identify and describe the principal kinds of debt securities.

A: Business needs funds to operate the activities. Issuing securities is one of the ways to collect the…

Q: Describe the accounting for the extinguishment of debt.

A:

Q: Provide an example of an account that would be listed under Current Liabilities on a balance sheet…

A: According to IAS 1, Current liabilities are those obligations that are paid off during the next 12…