0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
When is Bad debt expense removed from the balance sheet?
Bad Debt Expense does not appear on the balance sheet. It is only on the income statement. Allowance for Uncollectible Accounts does appear on the balance sheet.
What is off- bank financing?
Refers to financing which does not appear on a balance sheet. For example, relatively strong corporation may guarantee the debtedness of subsidiary or a weaker company with whom it has a business relationship. The debt appears to the balance sheet of the company for which the guarantee is not recorded in the balance sheet of the issuing corporation.
Is long term debt on a balance sheet or income statement?
Long term debt is the liability of business payable in future so it is part of balance sheet of business.
Would you consider preferred stocks as equity or debt?
i would consider preferred stock as equity. cf the balance sheet
Is non recourse debt on the balance sheet of the borrower?
It should be.
Bad debt on a balance sheet?
No, bad debt is an expense and is reflected on the P&L Statement.
Is provision for doubtful debt subtracted from debtors in the balance sheet?
Yes it is.
How is debt expressed on a balance sheet?
Debt is shown in liability side of balance sheet as per the payment time duration if within one year then current liability otherwise long term liability.
Which financial statement would best indicate whether the company relies on debt or stockholders' equity to finance its assets?
Balance Sheet
Is bad debts account a balance sheet item or income statement?
It depends on how you have already treated the bad debt in the accounts, if you've already either written the debt off or fully provided for it then the recovery of the debt will be a P&L transaction (income statement)
What is a long term bebt considered on a balance sheet?
If you meant long term debt, then its a non-current liability, and it goes under the Equity and Liabilities section of the balance sheet.
What types of questions are answered by the income statement and balance sheet?
The income and balance sheet shows the amount of debt a company has. To investors, this is a way to determine if they are capable of meeting their obligations.
