Short-term investments: Short-term investments are investments which are hold for a period of one year or less and which are easily convertible into cash. Long-term investments: Long-term investments are investments which are to be hold for a period of more than one year which are not easily convertible into cash in short term. To Identify: The statements which are true about the long term investments

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Answer 1

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 15, Problem 1QS

To determine

Concept Introduction:

Short-term investments:

Short-term investments are investments which are hold for a period of one year or less and which are easily convertible into cash.

Long-term investments:

Long-term investments are investments which are to be hold for a period of more than one year which are not easily convertible into cash in short term.

To Identify:

The statements which are true about the long term investments

Expert Solution & Answer

Answer to Problem 1QS

The statements which are true about the long term investments are as follows:

Statement	Explanation	True or False for Long term Investments
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

Explanation of Solution

The statements about the long term investments are explained as follows:

Statement		True or False for Long term Investments
a.	Long term investments are never considered as Cash equivalents. Hence this statement is False.	FALSE
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
c.	Long term investments include investments that will mature after 12 months. Hence this statement is False.	FALSE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
e.	Long term investments are not easily marketable. Hence this statement is False.	FALSE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

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Financing Deficit Stevens Textile Corporation's 2019 financial statements are shown below: Just need the correct LOC? Balance Sheet as of December 31, 2019 (Thousands of Dollars) Cash $ 1,080 Accounts payable $ 4,320 Receivables 6,480 Accruals 2,880 Inventories 9,000 Line of credit 0 Total current assets $16,560 Notes payable 2,100 Net fixed assets 12,600 Total current liabilities $ 9,300 Mortgage bonds 3,500 Common stock 3,500 Retained earnings 12,860 Total assets $29,160 Total liabilities and equity $29,160 Income Statement for December 31, 2019 (Thousands of Dollars) Sales $36,000 Operating costs 34,000 Earnings before interest and taxes $ 2,000 Interest 160 Pre-tax earnings $ 1,840 Taxes (25%) 460 Net income $ 1,380 Dividends (40%) $ 552 Addition to retained earnings $ 828 Stevens grew rapidly in 2019 and financed the growth with notes payable and long-term bonds. Stevens expects sales to…

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Answer 2

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 15, Problem 1QS

To determine

Concept Introduction:

Short-term investments:

Short-term investments are investments which are hold for a period of one year or less and which are easily convertible into cash.

Long-term investments:

Long-term investments are investments which are to be hold for a period of more than one year which are not easily convertible into cash in short term.

To Identify:

The statements which are true about the long term investments

Expert Solution & Answer

Answer to Problem 1QS

The statements which are true about the long term investments are as follows:

Statement	Explanation	True or False for Long term Investments
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

Explanation of Solution

The statements about the long term investments are explained as follows:

Statement		True or False for Long term Investments
a.	Long term investments are never considered as Cash equivalents. Hence this statement is False.	FALSE
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
c.	Long term investments include investments that will mature after 12 months. Hence this statement is False.	FALSE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
e.	Long term investments are not easily marketable. Hence this statement is False.	FALSE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

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Answer 3

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 15, Problem 1QS

To determine

Concept Introduction:

Short-term investments:

Short-term investments are investments which are hold for a period of one year or less and which are easily convertible into cash.

Long-term investments:

Long-term investments are investments which are to be hold for a period of more than one year which are not easily convertible into cash in short term.

To Identify:

The statements which are true about the long term investments

Expert Solution & Answer

Answer to Problem 1QS

The statements which are true about the long term investments are as follows:

Statement	Explanation	True or False for Long term Investments
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

Explanation of Solution

The statements about the long term investments are explained as follows:

Statement		True or False for Long term Investments
a.	Long term investments are never considered as Cash equivalents. Hence this statement is False.	FALSE
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
c.	Long term investments include investments that will mature after 12 months. Hence this statement is False.	FALSE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
e.	Long term investments are not easily marketable. Hence this statement is False.	FALSE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

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Answer 4

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 15, Problem 1QS

To determine

Concept Introduction:

Short-term investments:

Short-term investments are investments which are hold for a period of one year or less and which are easily convertible into cash.

Long-term investments:

Long-term investments are investments which are to be hold for a period of more than one year which are not easily convertible into cash in short term.

To Identify:

The statements which are true about the long term investments

Expert Solution & Answer

Answer to Problem 1QS

The statements which are true about the long term investments are as follows:

Statement	Explanation	True or False for Long term Investments
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

Explanation of Solution

The statements about the long term investments are explained as follows:

Statement		True or False for Long term Investments
a.	Long term investments are never considered as Cash equivalents. Hence this statement is False.	FALSE
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
c.	Long term investments include investments that will mature after 12 months. Hence this statement is False.	FALSE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
e.	Long term investments are not easily marketable. Hence this statement is False.	FALSE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

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Answer 5

Chapter 15, Problem 1QS

To determine

Concept Introduction:

Short-term investments:

Short-term investments are investments which are hold for a period of one year or less and which are easily convertible into cash.

Long-term investments:

Long-term investments are investments which are to be hold for a period of more than one year which are not easily convertible into cash in short term.

To Identify:

The statements which are true about the long term investments

Expert Solution & Answer

Answer to Problem 1QS

The statements which are true about the long term investments are as follows:

Statement	Explanation	True or False for Long term Investments
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

Explanation of Solution

The statements about the long term investments are explained as follows:

Statement		True or False for Long term Investments
a.	Long term investments are never considered as Cash equivalents. Hence this statement is False.	FALSE
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
c.	Long term investments include investments that will mature after 12 months. Hence this statement is False.	FALSE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
e.	Long term investments are not easily marketable. Hence this statement is False.	FALSE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

Answer 6

Chapter 15, Problem 1QS

To determine

Concept Introduction:

Short-term investments:

Short-term investments are investments which are hold for a period of one year or less and which are easily convertible into cash.

Long-term investments:

Long-term investments are investments which are to be hold for a period of more than one year which are not easily convertible into cash in short term.

To Identify:

The statements which are true about the long term investments

Expert Solution & Answer

Answer to Problem 1QS

The statements which are true about the long term investments are as follows:

Statement	Explanation	True or False for Long term Investments
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

Explanation of Solution

The statements about the long term investments are explained as follows:

Statement		True or False for Long term Investments
a.	Long term investments are never considered as Cash equivalents. Hence this statement is False.	FALSE
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
c.	Long term investments include investments that will mature after 12 months. Hence this statement is False.	FALSE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
e.	Long term investments are not easily marketable. Hence this statement is False.	FALSE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

Answer 7

Chapter 15, Problem 1QS

To determine

Concept Introduction:

Short-term investments:

Short-term investments are investments which are hold for a period of one year or less and which are easily convertible into cash.

Long-term investments:

Long-term investments are investments which are to be hold for a period of more than one year which are not easily convertible into cash in short term.

To Identify:

The statements which are true about the long term investments

Answer 8

Expert Solution & Answer

Answer to Problem 1QS

The statements which are true about the long term investments are as follows:

Statement	Explanation	True or False for Long term Investments
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

The statements about the long term investments are explained as follows:

Statement		True or False for Long term Investments
a.	Long term investments are never considered as Cash equivalents. Hence this statement is False.	FALSE
b.	Long term investment includes non operating assets like investment in land. Hence this statement is True.	TRUE
c.	Long term investments include investments that will mature after 12 months. Hence this statement is False.	FALSE
d.	Long term investments are reported under the Non Current assets of the balance sheet. Hence this statement is True.	TRUE
e.	Long term investments are not easily marketable. Hence this statement is False.	FALSE
f.	Long term investments include bonds and stocks not intended to be sold in near future. Hence this statement is True.	TRUE

Answer 12

Ch. 15 - Prob. 1QS Ch. 15 - Prob. 2QS Ch. 15 - Prob. 3QS Ch. 15 - Prob. 4QS Ch. 15 - QS 15-5 Reporting trading securities on financial...Ch. 15 - Prob. 6QS Ch. 15 - Prob. 7QS Ch. 15 - Prob. 8QS Ch. 15 - Prob. 9QS Ch. 15 - Prob. 10QS

Answer to Problem 1QS

Explanation of Solution

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