5short-terminvestments_receivables短期投資和(編輯修改稿)
2025-03-28 10:57 本頁面
【文章內(nèi)容簡介】 lection of the note on Feb. 28, 20X9: Feb 28 Cash 1,045 Interest Revenue (1,000 .09 2/12) 15 Collected note at maturity Interest Receivable 30 Note Receivable – L. Holland 1,000 Speeding Up Cash Flow ? Credit Card or Bankcard Sales ? Selling Receivables ? Both methods result in financing expense. Acid Test Ratio ? Measure of liquidity ? More stringent than the current ratio Acidtest ratio Cash Shortterm investments Net current receivables + + Total current liabilities = Days’ Sales in Receivables ? Compute one day’s sales ( sales / 365 days) ? Compute days’ sales in receivables –(average receivables / one day’s sales) EXERCISETRUE/FALSE ? Marketable securities are investments that a pany is actively attempting to sell. ? False ? Shortterm investments may be divided into heldtomaturity securities, trading securities, and availableforsaleinvestments. ? true EXERCISETRUE/FALSE ? Trading securities are considered to be current assets. ? True ? Trading securities are reported on the balance sheet at their historical cost. ? false EXERCISETRUE/FALSE ? Realized gains and losses are puted by paring cash received at the time of sale to the original cost of the assets. ? False ? Unrealized gains and losses on trading securities are reported as part of current ine. ? true EXERCISETRUE/FALSE ? Notes receivable collected in installments can appear on a balance sheet as both a current asset and a longterm asset. ? True ? Trade receivables are amounts to be collected from customers from the sale of goods and services. ? true EXERCISETRUE/FALSE ? Subsidiary records provide detailed information about control accounts. ? True ? Under the allowance method, the entry to record the estimated bad debts for the period includes a credit to Accounts Receivable. ? false EXERCISETRUE/FALSE ? Allowance for Doubtful Accounts is used to record the bad debts expense for the period. ? False ? The allowance method of accounting for bad debts records collection losses on the basis of estimates rather than waiting to determine which customers will not pay. ? true EXERCISETRUE/FALSE ? Under the allowance method, the entry to write off an account that has been deemed uncollectible has no impact on the ine of the firm. ? True ? When preparing financial statements, the direct writeoff method is preferred over the allowance method because it is more accurate. ? false EXERCISETRUE/FALSE ? There are two basic ways to estimate uncollectibles: the percentofsales method and the agingofreceivables method. ? True ? The maturity value of a note is the sum of the principal amount of a note plus the interest due at maturity. ? true EXERCISETRUE/FALSE ? The payee of the note records interest on a note receivable as interest expense. ? False ? A note receivable is sold before its maturity date for less than its original issue value. ? false EXERCISETRUE/FALSE ? Trade receivables can be sold to a factor as a means of speeding cash flow. ? True ? In general, panies prefer a longer collection period for receivables. ? false EXERCISETRUE/FALSE ? Because it includes only cash and shortterm investments in the numerator, the acidtest ratio is a more stringent measure of a firm’s ability to pay current liabilities than the current ratio. ? false ExerciseChoice ? Trading securities: a. must be debt securities b. must be equity securities c. may be debt securities or equity securities d. represent Accounts Receivable and Notes Receivable on the balance sheet ? C
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