Which of the following would result in the RETURN OF ASSETS for an accounting entity Deteriorating. 1. Accrued interest revenue is adjusted 2. Share market price of the entity's shares increases 3. Cash receipt from a customer for amounts owing which was previously sold on credit
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Which of the following would result in the RETURN OF ASSETS for an accounting entity Deteriorating.
1. Accrued interest revenue is adjusted
2. Share market price of the entity's shares increases
3. Cash receipt from a customer for amounts owing which was previously sold on credit
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- Which of the following would result in the RETURN OF ASSETS for an accounting entity deteriorating. Answer Can be all of them, none of them or any combination of them. 1. Accrued interest revenue is adjusted 2. Share market price of the entity's shares increases 3. Cash receipt from a customer for amounts owing which was previously sold on creditWhich of the following would result in the RETURN OF ASSETS for an accounting entity Deteriorating. Multiple answers or no correct answers 1. Accrued interest revenue is adjusted 2. Share market price of the entity's shares increases 3. Cash receipt from a customer for amounts owing which was previously sold on creditWhen a company borrows money from the bank, what is the impact on the accounting equation? Group of answer choices Assets decrease and labilities increase Assets increase and liabilities increase Assets decrease and liabilities decrease Assets increase and liabilities decrease
- 1. According to the accrual accounting model, recognition of loss leads to decrease in a company’s net assets that did not arise due to a transaction with an owner of the business. Select one: True False 2. If the transferor of receivables surrenders control over them, the transaction involving receivables is treated as a sale, and any gain or loss is recognized in earnings. Select one: True False 3. Which of the following statements about the accrual accounting is NOT true? Accrual earnings help measure a company’s performance better. Accrual accounting income for a given period always provides a precise picture of a company’s economic performance in this period. Accrual accounting better matches revenue with economic effort to receive it. It is normal that accrual accounting revenue for a period does not correspond to cash receipts for the same period. 4. Which of the following statements about Loss Contingencies is TRUE? According…Which one of the following accounts is unlikely to ever be seperately disclosed in the income statement? O A. Cost of sales O B. Bad debts O C. Interest on current bank account O D. DepreciationWhat 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?
- A gain or loss from one of the following transactions should not be included in determining income: a. receipt of interest from bank depositsb. sale of treasury sharesc. sale of plant and equipmentd. sale of product T Corporation’s retirement of its treasury shares resulted in the par value exceeding the cost. The difference should be: a. debited to APIC to the extent of the credit when the stock was issuedb. debited to retained earningsc. credited to APIC from previous treasury stock transactionsd. credited to APIC relating to the same issue Which of the following should be reported for capital stock? a. the shares authorizedb. the shares issuedc. the shares outstandingd. all of theseThe payment of past debt by the entity will cause a decrease in asset due to the outflow of cash, and what corresponding effect on liabilities? a. No effect b. Decrease c. The transaction would cause no effect on both accounts. d. IncreaseA company uses the direct write-off method to account for bad debts. What are the effects on the accounting equation of the entry to record the write-off of a customer's account balance? a. Assets increase and Stockholders' equity decrease b. Assets and Stockholders' equity decrease c. Stockholders' equity and liabilities decrease d. Assets and liabilities decrease
- The collection of cash from customers to which they owe to the entity from its past rendering of services would cause what effect on corresponding accounts? a. No effect on neither assets nor liabilities b. Decrease in assets c. Increase in assets d. Increase in liabilitiesIDENTIFY THE EFFECT OF THE FOLLOWING TRANSACTION TO THE RISK OF MATERIAL MISSTATEMENT TO FINANCIAL STATEMENTS. The company has shown an ability to generate a positive cash flow from operations, while reporting earnings and earnings growth. Does it have a: A. INCREASE effect B. DECREASE effect C. NO EFFECT effect27.A company writes off as uncollectible an account receivable from a bankrupt customer. The company has an adequate amount in its Allowance for Uncollectible Accounts. What would be the effect of this transaction in the company's financial statements? a. Operating expenses for the period will increase. b. Total current assets will decrease. c. Net profit for the period will not be affected. d. Net profit for the period will decrease.