475 Answered Questions for the topic Financial Accounting

Financial Accounting Accounting

05/09/19

Classify each of the following account types by selecting options 1 through 5.

Classify each of the following account types by selecting options 1 through 5. ____ Brandon Jones, Capital____ Mortgage ____ Office Building____ Notes Payable____ Unearned Revenue____ Supplies____... more
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Financial Accounting Math Business Finance

05/09/19

A bank offers a 25 year mortgage at 10.5% for a monthly mortgage payment of $9.44 per $1,000 borrowed. What is the monthly mortgage payment on a mortgage of $55,750?
I need and answer please and thank you for your time.
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Financial Accounting Math Business Finance

05/09/19

The monthly payments on Jerry and Joanne’s mortgage are $565.60. Their mortgage is $95,000. How much will they pay in interest if they have a 30-year mortgage?
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Financial Accounting Math Business Finance

05/09/19

David had an outstanding balance on his credit card account of $469.86 for purchases he made. Find the finance charge if it was 2.5% per month. Round answer to the nearest cent.
I would really appreciate the work, thank you so much
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05/02/19

What is the difference between an Independent Financial Advisor (IFA) and an Accountant?
I'm looking for some advice on various small personal financial matters relating to pension, salary, taxation etc. I've been given a personal recommendation for an accountant, but looking at their... more
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Financial Accounting

05/01/19

What is historical cost?
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Financial Accounting

05/01/19

What is the income statement?
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Financial Accounting Accounting

04/30/19

Which form of ownership burdens owners with the greatest risk of loss of their personal assets?
A) Limited partnership (LP), B) Limited liability partnership (LLP), C) Corporation, D) Sole proprietorship, E) None of the above
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Financial Accounting

04/30/19

How are the balance sheet and income statement connected?
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Financial Accounting Accounting United States Currency

04/30/19

Why is a coin an asset whereas a note is a liability on the Federal Reserve's balance sheet?
Can someone explain me why coins are assets and notes are liabilities for the U.S. Federal Reserve? I know coins are made from "precious" metals, but even notes are made from various materials... more
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Financial Accounting

04/28/19

What is the accounts receivable turnover ratio?
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Financial Accounting

04/28/19

What is the difference between a cost and an expense?
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Financial Accounting Accounting Balance Sheet Canada

04/24/19

Nit picky personal accounting question: What is the right way to record borrowing from yourself?
I keep a spreadsheet with my personal financial statements (balance sheet, income statement, cash flow) that generally follows the corporate approach. I omit considerations of depreciation, etc.... more
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Financial Accounting Accounting Investing

04/24/19

In accounting and investment, what is the difference and relationship between balance and position?
In accounting and investment, what are the difference and relation between balance and position, when talking about a checking/saving/investment account? Or are they the same concept? Thanks and... more
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Financial Accounting

04/24/19

Where does the purchase of equipment show up on a profit and loss statement?
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Financial Accounting

04/23/19

Is the installation labor for a new asset expensed or included in the cost of the asset?
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Financial Accounting Accounting Investing

04/23/19

Why Present Value and not Future Value?
This is a question in an online finance lesson, and I know what they want for the answer. But I'm not at all a novice at financial matters, so in my mind, I would do this differently. The question... more
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Financial Accounting Financial Literacy

04/23/19

Accounting equation: does income really decrease equity?
I am new to using [double-entry bookkeeping](https://en.wikipedia.org/wiki/Double-entry_bookkeeping_system) for personal finances. [GnuCash](https://en.wikipedia.org/wiki/GnuCash) uses a variant... more
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Financial Accounting

04/23/19

What is the difference between revenue, income, and gain?
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Financial Accounting

04/23/19

How does revenue affect the balance sheet?
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Financial Accounting Accounting Calculation

04/22/19

Dealing with fractions of a penny?
If my car insurance was £1200.01 per year, I could end up being charged £100 + 1/12p per month. I know that's not how it works, the extra penny is kept whole and goes on a specific month... more
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04/22/19

Is the blockchain similar to double-entry book-keeping?
As far as I know, blockchains keeps transaction records from the beginning of time. This lets the blockchain retain a history of traceable transactions so it can maintain validity. Double-entry... more
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Financial Accounting

04/21/19

What is the current ratio?
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Financial Accounting

04/21/19

Is income tax an expense or liability?
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Financial Accounting

04/21/19

Where is a contingent liability recorded?
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