Finance Questions

What is the normal balance for losses?

What is the normal balance for gains?

Which of the estimates of allowances are required by GAAP?

When the allowance is at the beginning balance at a debit side, what needs to be done to correct the balance to what the allowance should be?

What is the JE for the direct write off method when a customer finally fails to pay?

What are the two differences with bank reconciliations

What is the main internal control for cash receipts?

an interest rate swap to synthetically convert fixed rate debt into floating rate debt

A firm who enters into a future contract to buy oil at a preset price hopes the oil price will

A futures contract to hedge possible future price changes of a forecasted sale of aluminim

Net pension asset/liability (funded status) is reported on

What is the most informative section of a common-size balance sheet?

an options contract to hedge possible future price changes in inventory

Carrying value = net book value = face value net of the discount or premium balance

A company should accrue a liability for a loss contingency if it is ________ that assets have been impaired and the amount of potential loss can be reasonably estimated

For a bond, periodic interest expense is calculated as _____ times the carrying value of the bond at the beginning of the period

For a bond issue that sells for more than the bond face amount, the effective interest rate is

an interest rate swap to synthetically convert floating rate debt into fixed rate debt

The shareholders' equity of FSU Industries includes $200,000 of $1 par common stock and $400,000 par value of 6% cumulative preferred stock. The board of directors declared cash dividends of $50,000 in 2021 after paying $20,000 cash dividends in 2020 and $40,000 in 2019. What is the amount of dividends common shareholders will receive in 2021?A- $18,000B- $22,000C- $26,000D- $28,000

Around what percentage of Americans are living paycheck to paycheck?