rtens 37-40 A-Tru-Fa 17. Common stock in an asset account 38 disadvar ant tag o

Question

rtens 37-40 A-Tru-Fa 17. Common stock in an asset account 38 disadvar ant tag o Incorporating isu inted y ,000 60.aay 6% note will pay interest at saturity ot yni. 39. It Ia nuch anter to torn a partnership than a so ropreitorship. A375, Questions 41 -45.-classity the follovies a Asset b. Current Liability c Long teem Liability d. Stockholders- Equity e Not a balance sheet account 41. 42. 43. 44. 45. Common Stock Cash Dividends Payablo Paid in Capital, Treasury Stock Bonds Payable Gain on Sale of Equipment the total account receivables leas the 46. Net receivables is allowance fo allovance tor uncollect.ible accounts. (A- True False 47. Premi um on bonds is-to get the book value of the bonds a. added to bonds payable b. subt racted from bonds payable c. neither added or subtracted d. added to interest payable

Explanation / Answer

Q46) TRUE, NET RECEIVABLE =TOTAL ACCOUNT RECEIVABLE - ALLOWANCE FOR DOUBTFUL ACCOUNT

Q47) (b)subtracted from bond

total amount of bond payable = book value of bond + premium charged

therefore , book value = bond payable - premium on bond

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