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Q. Explain Periodicity assumption of accounting?
As-per to the periodicity (time periods) assumption accountants divide an entity's life into months or years to report its economic activities. Afterwards accountants attempt to prepare accurate reports on the entity's activities for these periods. Even though these time-period reports provide useful and timely financial information for investors and creditors they may be inaccurate for some of these time periods because accountants should estimate depreciation expense and certain other adjusting entries.
Accounting reports cover comparatively short periods. These time periods are typically of equal length consequently that statement users can make valid comparisons of a company's performance from period to period. The length of the accounting period should be stated in the financial statements. For example so far the income statements in this text were for either one month or one year. Companies that publish their financial statements such like publicly held corporations in general prepare monthly statements for internal management and publish financial statements quarterly and annually for external statement users.
The formula for computing additional paid-in capital in excess of par is shares of stock times Saturday
Q. Explain about Depreciation? Depreciation Just as prepaid rent and prepaid insurance indicate a gradual using up of a previously recorded asset thus does depreciation. But th
On December 31, 2013, University Theatres issued $500,000 face value of bonds. The stated rate is 8%, and interest is paid semiannually on June 30 and December 31. The bonds mature
Assignment Comments – Debt-to-assets ratio: 50% Current Ratio: 1.8x Total assets turnover: 1.5x Days sales outstanding: 36.5 days* Gross profit margin
State about the Cash payments journal A special journal used to record any payment of cash. There would be a check number given to be recorded in journal as well. Source docume
I am requesting for literature review and past studies on CDS.
A company’s sales volume averages 4,000 units per year. Recently, its main competitor reduced the price of its product to $48. The company expects sales to drop dramatically
What is the relationship of accounting and biology?
Q. Gain and loss recognition principle? The gain and loss recognition principle states that we record gains merely when realized but losses when they first become evident. Ther
Establishing the Change Fund Change Fund (asset) is debited and Cash is credited. Only time this fund would be used is if the fund is established or increased, just like Pet
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