The alternative treatment in reporting Subscription Receivable is a. deduction to Current Assets b. addition to Current Assets c. deduction to Current Liabilities d. addition to Current Liabilities
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A: Hi student Since there are multiple questions, we will answer only first question.
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- When the amount of rebate on bills discounted shown in the adjustments, then it has to be: a. Deducted from discounts received on bills and shown in other liabilities b. Deducted from discounts on bills purchased and shown in fixed assets c. Deducted from discounts received on bills and shown in other assets d. Added to discounts received on bills and shown in other liabilitiesIndicate whether each statement best describes the allowance (A) method or the direct write-off (DW)method. Accounts receivable on the balance sheet is reported at net realizable value.Which of the following accounts would be classified as a current liability on a classified balance sheet? Multiple Choice Dividends Deferred Revenue Wages Expense Accounts Receivable
- Two methods of accounting for uncollectible accounts are the Question 40 options: allowance method and the accrual method. allowance method and the net realizable method. direct write-off method and the accrual method. direct write-off method and the allowance method.When the amount of interest accrued shown in the adjustments, then it has to be: a. Deducted from discounts received on bills and shown in other liabilities b. Added to discounts received on bills and shown in other liabilities c. Added to discounts received on bills and shown in other assets d. Deducted from discounts on bills purchased and shown in fixed assetsDescribe the accounting for refund liabilities.
- Bond discount should be presented in the financial statements of the issue as a(n) Contra liability Contract asset Prepaid expense Deferred chargeAdvanced collections from customers prior to the performance obligation being satisfied is accounted as what account? As a deposit reported as an asset on the balance sheet A liability reported on the balance sheet Revenue reported on the income statement Deferred revenue reported as comprehensive incomeDefine the following items: Unearned revenue Inventory Notes payable Prepaid insurance Long term bond
- If a company usually sells its accounts receivables, it recorda any factoring commissions as a(n) a. Loss b. Expense c. Receivable d. LiabilityDebt issuance costs are: Accounted for as a deduction from the equity balance on the balance sheet Recognized initially as a current liability on the balance sheet Amortized over the term of the related debt liability Expensed on the income statement when the transaction occurs Which one is the correct answer please?Define the CECL model for accounts receivable. On what does it base the estimate of the allowance for uncollectible accounts?