The face value of Accounts Receivable plus the balance in the Allowance for Doubtful Accounts is equal to the net realizable value of the receivables.
Answer the following statement true (T) or false (F)
False
Net realizable value = Accounts receivable ? Allowance for doubtful accounts
You might also like to view...
Which of the following is/are true?
a. U.S. GAAP and IFRS do not permit the employer to prepare consolidated financial statements with the retirement trust. b. The employer must report the net funded status of each defined benefit retirement plan (that is, the fair value of retirement trust assets minus the retirement trust obligation) as either an asset or a liability on its balance sheet. c. The employer must report the net funded status of each defined benefit retirement plan and credit (for an overfunded plan) or debit (for an underfunded plan) is to Other Comprehensive Income. d. Notes to the financial statements provide information about investments made by the retirement trust and how trust assets and liabilities changed during a period. e. all of the above
Corporate Status. Pat Daniels, John Daniels, and Bill Mandell (the defendants) planned to purchase a tavern and restaurant business in St. Charles, Illinois, and to organize their business in the form of a corporation under the name of D&M, Inc The
defendants negotiated with Howard Realty Group to lease the premises on which the tavern and restaurant were located. While the sale of the business and the negotiation of the lease were proceeding, neither the seller of the business nor Howard contemplated personal guarantees from the defendants. On January 18, 1987, although D&M had not yet been incorporated, the lease was signed in the name of D&M, Inc, by Pat Daniels and Bill Mandell, in their capacity as president and secretary, respectively, of the future corporation. On February 11, 1987, the defendants filed the articles of incorporation for D&M with the secretary of state. The articles were returned by the secretary of state's office because the name "D&M, Inc" was already in use by another Illinois corporation. The defendants then decided to file the articles of incorporation under the name of The Lodge at Tin Cup Pass, Inc (the Lodge). They first checked with the landlord to see if they could use that name, because it was similar to the name of the property, Tin Cup Pass. The Lodge was duly incorporated on March 5, 1987. In late 1988, when the Lodge defaulted on its lease payments, Tin Cup Pass Limited Partnership, to whom Howard had assigned the lease, sued the defendants personally to recover the lease payments due, alleging that the defendants should be held liable as corporate promoters for D&M, Inc, a corporation that was never formed. What will result in court? Discuss fully.
How might you effectively customize an existing template? Check all that apply.
Change the color scheme to better match your company. Add a company logo. Select red text for a dark blue background. Add "visual clichés." Select different fonts.
Value at Risk estimates for portfolios must take into account the correlations among the various assets and liabilities in a portfolio
Indicate whether the statement is true or false