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Q. Can you explain about Liabilities?
Liabilities -- amounts owed by a company to others. Current liabilities are those amounts duewithin one year or less and generally include accounts payable, loans, accruals due to be paidwithin a year, taxes due within a year and so on. Long-term liabilities generally include theamounts of mortgages, bonds and long-term loans which are due more than a year in the future.
Q. Prepaid expenses and deferred charges? Prepaid expenses, deferred charges -- assets already paid for, which are being used up or willexpire. Insurance paid for in advance is
1. For each of the following accounting assumptions/principles, explain a business transaction: (a) Accounting Entity Assumption (b) Going Concern Assumption (c) Matching Prin
List of things to include in a trial balance before adjustments
Derivative instrument is an asset which develops i.e. takes its origin from another asset. The simplest form of derivative is a forward contract, "It is an agreement to buy or s
What is journal entry for Input CST which are paid at the time of purchases of goods from other state.
Q. Example of Net purchases? Only the description would change. If Hanlon had previously paid the account the debit would be to Cash instead of Accounts Payable ever since Hanl
On December 31, 2013, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each June 30 and December 31. The bon
what are the disadvantages of just-in-time?
Fixed asset are assets which provides the business future benefit Fixed assets are those which are tangible in nature and is not meant for sale in the near future and from whi
need to get assignment done, its corporate accounting.
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