What is accounts receivable? Is it something good? I see these things called current assets and current liabilities What are they? Why show them? I still don’t understand what the Statement of Retained Earnings is all about and why do I need it. What is retained earnings? What is that thing called a dividend? Is it an expense?

What is accounts receivable? Is it something good? I see these things called current assets and current liabilities What are they? Why show them? I still don’t understand what the Statement of Retained Earnings is all about and why do I need it. What is retained earnings? What is that thing called a dividend? Is it an expense?

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter27: Adjustments, Financial Statements, And Year-end Accounting For A Manufacturing business

Section: Chapter Questions

Problem 6RQ: What are the distinctive features of ToyJoys income statement? Its statement of retained earnings?...

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What is accounts receivable? Is it something good? I see these things called current assets and current liabilities. What are they? Why show them? I still don’t understand what the Statement of Retained Earnings is all about and why do I need it. What is retained earnings? What is that thing called a dividend? Is it an expense? How would you respond to each of these questions
1)What is accounts receivable? 2) Is it something good? 3) I see these things called current assets and current liabilities. What are they? 4) Why show them? 5) What is retained earnings? 6)What is that thing called a dividend? 7) Is it an expense?
A) current assets and current liabilities B) What are they? C)Why show them? D)I still don’t understand what the Statement of Retained Earnings is all about and why do I need it.
What's classified as assets, liabilities, and shareholders when the problem speaks of accounts payable/ receivable, equipment, supplies, unearned rent, dividends, fees earned, retained earnings, and common stock?
If you convert from cash to accrual, how does that affect your balance sheet? Would assets, liabilities and owners equity be higher or lower and why?
What will happen to your balance sheet if you go from cash to accrual accounting? What would happen to assets, obligations, and owners' equity?
How does a decrease in income taxes receivables on the balance sheet, impact cash flow? What is the journal entry to reflect this?
Which of the following normally has a net credit balance? A. Asset accounts such as cash, accounts receivable, inventory, and equipment B. Expenses that decrease retained earnings C. Dividends that decrease retained earnings D. Revenues that increase retained earnings
What will increase the following account items – Debit or Credit? Fill in the blanks. Assets _____________ Equity _____________ Losses _____________ What will decrease these account items – Debit or Credit? Fill in the blanks. Liabilities __________ Expenses __________ Gains _____________ What is the normal balance for these account items – Debit or Credit? Fill in the blanks. Revenue __________ Losses____________ Assets ____________
Explain why the following statement is true: The retained earnings account reportedon the balance sheet does not represent cash and is not “available” for dividend paymentsor anything else.
What is the impact on the accounting equation when a payment of accountable payable is made? what is the impact on accounting equation when an account receivable is collected? what is the impact on the accounting equation when a sell occurs? what is the impact on the accounting equation when stock is issued, in exchange for assets? which of the following accounts is increased by a debit? which of the following camp do not increase with a debit entry? which of the following pairs increase with credit entries? which of the following pairs of accounts are impacted the same with debits and credits? which of the following count normally have a debit balance? what type of account is prepaid insurance?
what is assets? what is non-current assets? what is current assets? what is equity? what is liabilities? what is non-current liabilities? what is current liabilities? what is revenue? what is expenses? what is gross profit?