In hedge accounting, a cash flow hedge. affects: a) Current period income statement only b) Retained earnings directly c) Balance sheet accounts only. d) Other comprehensive income until realized
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- Which of the following returns is consistent with contractual cash flows that are solely payments of principal and interest or SPPI? I. Return of passage of time II. Return for the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation III. Return for the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset IV. Return for amounts to cover expenses and a profit margin a. I, II, III, and IV b. I, II, and III c. I and IV only d. II and III onlyTrue or False: The classified balance sheet will reflect accounts receivables at net realizable value; fixed assets at net book value; and short term investments (trading securities/common stock) at their fair value/market value. O True O FalseWhich calculation uses balance sheet accounts and income accounts that affect liquidity to analyze operating, investing, and financing activities? Pro forma balance sheet Analysis of changes to retained earnings Statement of cash flows
- Which of the following statements accurately describes the statement of cash flows? A. It indicates when long-term debt will mature. B. It shows the relative proportion of debt and assets. C. It is the link between net income and earnings per share. D. It is the link between the accrual-based income statement and the cash reported on the balance sheet.Short-term investments are reported in the current assets section of the balance sheet before Cash. a separate section of the balance sheet after current assets. a separate section of the balance sheet before current assets. the current assets section of the balance sheet after Cash.Which of the following represents a source of cash?A) Repayment of a loanB) Purchase of inventoryC) Issuance of new equity sharesD) Purchase of fixed assets Need hw
- Indicate for each of the following what should be disclosed on a statement of cash flows (SCF) (indirect method). If not disclosed, select "Not shown." If an item is a noncash transaction that should be shown separately, select "noncash." If an item is added to net income, select "Add," and if an item is deducted from net income, select "Deduct." Show financing and investing outflows in parentheses. For example, an answer might be: Deduct $4,700 or Investing ($31,000). There is more than one answer for some items. Statement of Cash Flows (Indirect Method) Disclosure Effect on Net Income Effect on Cash Flows (a) For 2021, income before an extraordinary loss was $402,500. A tornado damaged a building and its contents. The proceeds from insurance companies totaled $118,500, which was $50,500 less than the book values. The tax rate was 30%.…ductory financial accounting_ Liquidity is simply: O a. another term for non-current assets O b. a company's ability to pay obligations when due O c. another term for current liabilities O d. another term for cash ype here to searchMatch the words to the definitions. Solvency Accounts Receivable Balance Sheet Noncurrent Assets Income Statement Retained Earnings Noncurrent Liabilities. Liquidity Current Assets Cash Flow Statement ✓ [Choose ] A forecast of the amount and timing of future cash inflows and outflows over some period of time. A summary of the revenues and expenses of a business over a given period of time. When net worth is greater than zero, or assets are greater than liabilities on the balance sheet. The ability to meet the day-to-day cash needs of the firm. Profits that are not paid out in dividends but are reinvested in the firm itself. Summarizes a firm's financial position at a given point in time and lists the firm's assets, liabilities, and net worth. Debts that others owe the business, usually arising from previous credit sales. Something the firms owns or uses that will not turn into cash within the next accounting period. Either cash or an items that will become cash in the next accounting…
