Ceres Corporation made travel advances to the marketing team. Why are they considered nontrade receivables? The amounts

Fantastic news! We've Found the answer you've been seeking!

Question:

Ceres Corporation made travel advances to the marketing team. Why are they considered nontrade receivables?

The amounts are owed to the employees, not to the company.

The amounts owed to the company did not result from selling goods or services.

The amounts owed to the company are not from external parties.

The amounts owed will not cause a decrease in the Cash account.

Related Book For answer-question

Advanced Accounting

ISBN: 978-1118037911

1st Canadian Edition

Authors: Gail Fayerman

See More Books

Posted Date: Dec 28, 2023 02:39 AM

See More Questions

The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
Use the DerivaGem software to value a five-year collar that guarantees that the maximum and minimum interest rates on a LIBOR-based loan (with quarterly resets) are 7% and 5% respectively. The LIBOR...
Suppose that the quarterly profit from the sale of Kisses and Kreams is given by P(x, y) = 10x + 6.4y - 0.001x2 - 0.025y2 dollars where x is the number of pounds of Kisses and y is the number of...
Use lHospitals rule where applicable to find each limit. lim x5 x + 11 - 6 x - 25
Until recently, Seth worked for the Seaside Cruise Ship Line Corporation (Seaside) as an engineer. Seaside is a U.S. company based in Florida. For the past two years, Seth has been assigned to one of...
Davenport Construction Associates compares actual results with a flexible budget. The standard direct labor rates used in the flexible budget are established each year at the time the annual plan is...
1. Where cursor implementation can be used? 2. List down the applications of List. 3. What are the advantages of linked list? 4. Mention the demerits of linked list? 5. What are the operations...
Selected transactions for M. Acosta, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $10,000 cash in business. 3 Purchased used car for $3,000 cash for use in...
A Java program that prints rectangles of three different sizes to the screen, with a blank line between each rectangle. A 5 x 3 rectangle made of the letter 'O' A 16 x 6 rectangle made of the...
Required length: 1,500 words The referencing style for this subject isHarvard. Details of task: The importance of corporate governance became dramatically clear since the early 2000s as result of a...
Answer the questions using the resources provided below. Write down one or two of most significant [central, useful, meaningful, surprising, disturbing] things you have learned from the readings in...
Business strategist Michael Porter (Harvard Business School) introduces us to the concept of shared value in his TED talk. He defines shared value as "when we ... create social value and economic...
Johnny purchased $5,000 of Zenith Manufacturing common stock when it was selling for $125 per share. Today, which is one year after he purchased Zenith, Johnny sold the stock for $135. During the...
Find Fortune Magazine and 2023's Most Admired Companies list. Give a brief overview of each and analyze which stakeholder group(s) do you think have earned them this ranking? Explain. Each original...
Public accounting firms perform an important audit (attest) function to provide confidence in the integrity of a company's financial statements. This assignment focuses on the auditors of your...
Ask students to outline the reasons why the various elements of culture (social structures and control systems, language and aesthetics, religion and other belief systems, educational systems, etc.)...
On December 1, 2012, Sycamore Company acquired a 90-day speculative forward contract to sell 120,000 British pounds () at a forward rate of 1 = C$1.61. The rates are as follows: Required (a) Prepare...
ABC Co. has a foreign operation, XYZ Co., located in Australia. XYZ Co. sells goods to the local market and in the past had financed its own operations through operating income and local borrowing....
The following are the statements of ï¬nancial position at September 30, 2013, of Chrapaty Ltd. and Squid Ltd. Additional information: 1. During September, the shares of the companies were...
If one of the physicians is randomly selected, find the probability of getting one who made a correct dosage calculation or was given the bottle with a concentration label. Dosage Calculations. Use...
Let R be the event of randomly selecting a senator and getting a Republican, and let D represent the event of randomly selecting a second different senator and getting a Democrat. Use words to...
According to the National Association for College Admissions Counseling and USA Today, 19.8% of college students take at least one class online. What is the probability of randomly selecting a...

Ceres Corporation made travel advances to the marketing team. Why are they considered nontrade receivables? The amounts

Question:

Expert Answer:

The detailed answer for the above question is provided ... View the full answer

Advanced Accounting

Students also viewed these accounting questions