A.Right.
B.Wrong.
C.Doesn’t say.
A.Right.
B.Wrong.
C.Doesn’t say.
B.Every debit must have a debit,all debits must equal all credits.
C.Every debit must have a credit,all debits not equal all credits.
D.None of the abov
E.
A、Incurring an expense results in a debit to the expense account.
B、Decrease in a liability results in a debit to the liability account.
C、Increase in an asset results in a credit to the asset account.
D、Decrease in an asset results in a debit to the asset account.
E、Increase in a liability results in a credit to the liability account.
A company has the following unadjusted account balances at December 31, of the current year; Accounts Receivable of $185,700 and Allowance for Doubtful Accounts of $1,600 (credit balance). The company uses the aging of accounts receivable to estimate its bad debts. The following aging schedule reflects its accounts receivable at the current year-end: 1. Calculate the amount of the Allowance for Doubtful Accounts that should appear on the December 31, of the current year, balance sheet. 2. Prepare the adjusting journal entry to record bad debts expense for the current year.
There are two firms with identical assets and thus the same EBIT equal to $10 million per year, differing only in their capital structure: Nodett Corp. issuing only 1 million shares of stocks, and Somedett Corp. issuing bonds with face value of $40 million at an interest rate of 8% per year and 0.6 million shares of stocks. Assume that Somedett’s bonds are in perpetuity and default free. In a frictionless environment, if Nodett’s stock price is $90 and Somedett’s stock price is $100, then you can ( ) to make riskless arbitrage profit.
A、buy 1,000 shares of Nodett and sell short 600 shares of Somedett
B、sell short 1,000 shares of Nodett and buy 600 shares of Somedett
C、sell short 600 shares of Somedett, borrowing $40,000 in perpetuity and buy 1,000 shares of Nodett
D、sell short 1,000 shares of Nodett, buy 600 shares of Somedett and bonds of Somedett with total face value of $40,000
B.Debits decrease certain accounts and credits decrease certain accounts.
C.Liabilities and owner’s equity accounts usually end in credit balances; assets usually end in debit balances.
D.All of the abov
E.
A、the transaction date
B、the names of the accounts involved
C、the amount of each debit and credit
D、an explanation of the transaction
E、the balance in each account
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