Matching Definitions with Balance SheetRelated Terms Following are terms related to the balance sheet that were discussed
Question:
Following are terms related to the balance sheet that were discussed in Chapters 2 through 5. Match each definition with its related term by entering the appropriate letter in the spaceprovided. Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Transcribed Image Text:
Terms Definitions (1) Capital in excess of par A. Nearness of assets to cash (in time). (2) Assets B. Liabilities expected to be paid out of current assets normally within the next year. C. All liabilities not classified as current liabilities. (3) Retained earnings (4) Book value D. Total assets minus total liabilities. (5) Other assets E. Probable future economic benefits owned by the entity from past transactions. F. Debts or obligations from past transactions to be paid (6) Shares outstanding (7) Shareholders" equity (8) Liquidity (9) Normal operating cycle (10) Current assets (11) Current liabilities (12) Long-term liabilities with assets or services. G. Assets expected to be collected in cash within one year or the operating cycle, if longer. H. Assets that do not have physical substance. I. Balance of the Common Stock account divided by the par value per share. J. A miscellaneous category of assets. (13) Fixed assets (14) Liabilities (15) Contra-asset account K. Sum of the annual depreciation expense on an asset from its acquisition to the current date. (16) Accumulated depreciation (17) Intangible assets L. Asset offset account (subtracted from asset). M. Accumulated earnings minus accumulated dividends. N. Property, plant, and equipment. O. Same as carrying value; cost less accumulated depreciation to date. P. Amount of contributed capital less the par value of the stock. Q. The average cash-to-cash time involved in the operations of the business. R. None of the above.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
P 1 Capital in excess of par B 11 Current liabilities E 2 Assets C 12 Longterm l...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Match each definition with its related term by entering the appropriate letter in the spaceprovided. Definition Term (1) At year-end, service revenue of $1,000 was collected in A Accrued expense B....
-
Match each definition with its related term by entering the appropriate letter in the space provided. Term Definition 1. Expenses 2. Unearned Revenue 3. Prepaid Expenses 4. Revenues A. A liability...
-
Match each definition with its related term by entering the appropriate letter in the space provided. There should be only one definition per term (that is, there are more definitions than terms)....
-
Congratulations! Your portfolio returned 11% last year, 2% better than the market return of 9%. Your portfolio had a standard deviation of earnings equal to 18%, and the risk-free rate is equal to...
-
You are preparing the financial statements for the year ended October 31, 2017, for Cusik Publishing Company, a weekly newspaper. You began with the trial balance of the ledger, which balanced, and...
-
Few companies take the time to estimate the value of a good customer (and often spend little effort to keep one). Suppose that a customer at a restaurant spends, on average, R per visit and comes F...
-
How do CRM and the use of databases in selling enhance closing and follow-up?
-
Summer Fun manufactures flotation vests in Tampa, Florida. Summer Funs contribution margin income statement for the month ended December 31, 2016, contains the following data: Suppose Over-town...
-
Project Overview: The project is used to illustrate the process and documentation required for a network security design. This project presents a scenario in which the RGIT SOFTWARE AUSTRALIA has...
-
Three compounds, A, B, and C, exhibit retention factors on a column having only 500 plates of kA = 1.40, kB = 1.85, and kC = 2.65. Can they be separated with a minimum resolution of 1.05?
-
Matching Transactions with Concepts Following are the concepts of accounting covered in Chapters 2 through 5. Match each transaction or definition with its related concept by entering the appropriate...
-
Preparing a Balance Sheet and Analyzing Some of Its Parts Exquisite Jewelers is developing its annual financial statements for 2012. The following amounts were correct at December 31, 2012: cash,...
-
In Problems 11 through 14, use the method of Example 4 to find two linearly independent power series solutions of the given differential equation. Determine the radius of convergence of each series,...
-
Match the description of a partner's rights with the term. Drag and drop application. Capital interest Capital interest drop zone empty. Profits interest Profits interest drop zone empty. Partnership...
-
Summarize a BASC-3 BESS report with internalizing risk index score of 21 ( extremely elevated risk), self-regulation risk index score 15 (extremely elevated risk), and personal adjustment index score...
-
a)An investor has a $80 million portfolio with a beta of 1.3 and plans to use 3-month futures contracts on the ASX200 to hedge the risk of the portfolio over the next 2 months. The current level of...
-
1. If a company wants to earn a real rate of return of 15% per year (in terms of purchasing power), how much higher should its inflation-adjusted (i.e., nominal) rate of return be when the inflation...
-
Match the term with its definition. Question 66 options: Involves constant monitoring of both the portfolio and the market, and changing the asset allocation in response to market cycle shifts or...
-
What does the Marshall-Lerner condition look like if the country whose real exchange rate changes does not start out with a current account of zero? (The Marshall-Lerner condition is derived in...
-
The following information is available for Partin Company: Sales $598,000 Sales Returns and Allowances 20,000 Cost of Goods Sold 398,000 Selling Expense 69,000 Administrative Expense 25,000 Interest...
-
Which statement is not correct? a. In a conceptual data model, the data requirements from the business should be captured and modeled. b. A conceptual data model is implementation-dependent. c. A...
-
(a) In general, what are the requirements for the financial statement presentation of long-term liabilities? (b) What ratios may be computed to evaluate a companys liquidity and solvency?
-
Gerald Bachus says that liquidity and solvency are the same thing. Is he correct? If not, how do they differ?
-
The management of Lakeland Corporation is concerned because survey data suggest that many potential customers do not buy vehicles due to quality concerns. It is considering taking the bold step of...
-
A government fund owns equipment worth $100,000 that is depreciated on a straight line basis for its useful life of 10 years. Each year the government spends $4,000 to maintain the equipment. What...
-
Southern Alliance Company needs to raise $24 million to start a new project and will raise the money by selling new bonds. The company will generate no internal equity for the foreseeable future. The...
-
During a semester, a class of n=50 students took two exams: a midterm and a final. The mean score for the midterm exam is 80 points with the standard deviation of 6 points. The mean score for the...
Study smarter with the SolutionInn App