Which of the following is not an asset account?a. Cashb. Landc. Equipmentd. Common Stock

Q: The accounting equation is expressed as ________.A. Assets + Liabilities = Owner’s EquityB. Assets –…

A: Accounting equation is one of the important concept used in accounting. Three elements of accounting…

Q: listing the assets in order of liquidity ( balance sheet)?

A: Balance sheet is the financial statement which shows financial position of the business by showing…

Q: d o

A: The correct answer is  C) Traffic speed of suppliers

Q: Classify each of the following items as assets (A), liabilities (L), or equity (EQ). Owner, Capital

A: Assets: These are the resources owned and controlled by business and used to produce benefits for…

Q: What is owner Capital listed as a debit or credit

A: Solution: Owner capital is the amount of capital invested in business by owner. This is shown as…

Q: Is the matching concept related to (a) the cash basis of accounting or (b) the accrual basis of…

A: Matching concept: Under matching concept the expenses and revenues are recorded in books of accounts…

Q: Accounting Explne

A: The business maintains its records in the form of accounting. The business being small or larger, it…

Q: c. Distinguish between financial assets and real assets for each of the followingcharacteristics.…

A: Assets can be any resources that possess and administrated by any entity. It includes resources such…

Q: Which of the following shows the effects of providing services for cash on the accounting equation?…

A: 1. Accounting Equation - Accounting Equation is calculated using following equation - Assets =…

Q: In contrast with cash basis accounting, what is accrual accounting? Explain

A: The question is based on the concept of Financial Accounting.

Q: Which of these statements is not one of the financial statements?A. income statementB. balance…

A: The financial statement, often known as the final account, depicts the organization's financial…

Q: Which of the following groups of accounts increase with a credit? Oa. assets, common stock, revenues…

A: Liabilities, common stock and revenues will be increased with a credit.

Q: What is the normal balance (debit or credit) of assets, liabilities, stockholders’ equity, revenues,…

A:

Q: Which of the following is correct?(i) Liabilities = Assets + Capital(ii) Assets = Liabilities –…

A: Accounting Transaction:   An economic event, which causes impact (increases or decreases the value…

Q: Vhat is the company's total assets tumover? What is the firm's

A: The formula to calculate Return on assets is Profit margin multiplied by the Asset Turnover. To…

Q: The accounting equation can be restated as: Assets - Equity = Liabilities. True or False True False

A: Solution: The basic accounting equation, also named as balance sheet equation, reflects the…

Q: From othe basic accounting equation Assets = Liabilities + Owners Equity, where does uncollectible…

A: As per accounting equation, assets = Liabilities + owners' equity

Q: Distinguishing between current and non-current items on the balance sheet and presenting a subtotal…

A: A classified balance sheet is one that classifies assets and liabilities as current or non-current…

Q: What is accrual vs cash basis accounting. Explain with examples?

A: Under accrual basis of accounting, transactions are recorded & recognized as and when they…

Q: Which of the following is an example of a fi nancing activity on the cash fl ow statement under US…

A: Cash flow from financing activities represents the cash inflows and outflows related to the capital…

Q: Which of the following is NOT included in the financial assets? A. Cash. B. Investments in…

A: The financial assets include the liquid assets of the business.

Q: The liabilities on a balance sheet are represented by which of the following?Choose one answer.a.…

A: Balance sheet: It refers to a financial statement that shows all the liabilities, assets, and…

Q: What data flows from the statement of retained earnings to the balance sheet?a. Net incomeb. Cashc.…

A: Retained earnings: Retained earnings are the portion of earnings kept by the business for the…

Q: If the stock is issued for assets other than cash, describe the recording of this transaction.

A: Stock: It refers to a security issued in a form of certificate. It implies the right of ownership of…

Q: Explain the concept of NORMAL BALANCE and how it works for assets, liabilities and equity.

A: Concept of NORMAL BALANCE : Generally, the most of the companies follows double entry method of book…

Q: Which of the following would not form part of quick assets? (A)Receivables (B) Cash (C) Prepaid…

A: Quick assets : these are the assets which are easily converted into cash (i.e. into liquid form).…

Q: What is the relationship between the accountingequation and the balance sheet?

A: Accounting is the detailed process of maintaining books of accounts. It includes several steps like…

Q: What’s financial instrument

A: Financial instruments can be broadly divided into: a. cash instruments b. derivatives instruments

Q: Which of the following is incorrect? A. Capital + Liabilities = Assets B. Assets - Liabilities =…

A: Every transaction has dual effect on the books of account. The question is from the topic of…

Q: at is accural vs cash basis accounting. Explain with example.

A: Cash Accounting: A form of accounting in which receipts are reported during the period in which they…

Q: Which of the following is not an asset? a.cash b.inventory c.owner's equity d.investments

A: Assets are those that provide economic benefits and that help to generate cash in the future.

Q: the "investment in branch" is an asset account in the branch's individual financial statements  a.…

A: A branch is an underlying department or division of an organization. The scattered distribution of…

Q: Which of the following A. Capital + Liabilities = Assets B. Assets - Liabilities = Capital C. Assets…

A: The general accounting equation is Assets = Liabilities + Capital.

Q: at effect o

A: The General accounting equation  is Equity + Liabilities = Assets.

Q: Which of the following is not a general ledger account? Net income Revenue Dividends Unearned…

A: General ledger account is used to prepare financial statement in a proper way.One can't imagine…

Q: Which of the following is a connector account? O Retained Earnings O Prepaid Rent O Common Stock O…

A: Connector accounts are those accounts which connects or joins two particular financial statements.

Q: Which of the following fi nancial statements is generallyprepared fi rst?a. Income statement.b.…

A: Introduction: Balance sheet: All Assets and liabilities are recorded in Balance sheet. It tells the…

Q: Which of the following is not a proper representation of the accounting equation? Equity = Assets…

A: Total assets should always equal the total of liabilities and equity.

Q: Define accrual basis accounting and contrast it with cashbasis accounting.

A: Definition of Accrual basis of Accounting  Accrual accounting means revenue and expenses are…

Q: Which of the following assets—inventory, building, accounts receivable, or cash—is most liquid?…

A: The question is related to Classification of assets on the basis of short term solvency or…

Q: Cash float” would be which type of account? a.Expense b.Current asset c.Proprietary d.Fixed…

A: Cash float means the difference between the amount of cash shown in the books of the entity and the…