User Account

All Pages

Which would classified as a liability in financial statement

Assignment Help Financial Accounting
Reference no: EM132616590

Problem 1: Which one of the following would be classified as a liability in the current financial statements for the following businesses?

Option A. Sweet Ltd has an estimated wages cost for the current year of £15,000 which it will pay after the year end

Option B. Sour Ltd purchased equipment 15 months ago for £18,000. The fair value of the equipment has since fallen by £7,000.

Option C. Bitter Ltd's business sells computer software under a licence. The licence will expire in 24 months' time. At that point in time, Bitter Ltd will renew and pay for a new licence at a cost of £50,000.

Option D. Salty Ltd is planning to buy a new property for her business at a cost of £555,000.

Reference no: EM132616590

Questions Cloud

What will it be after the move : If their cost of equity is currently 19.7%, what will it be after the move? Their cost of debt is 5% and their tax rate is 28%.
Enhancing Messages With Visuals : Investigate and modify workplace visual media communication to enhance efficiency in completing tasks.
Which is not included in the cost of property : Which is NOT included in the cost of property, plant and equipment under IAS 16? Deduction of trade discounts relating to purchase of asset
Remember the titans- movie-leadership in the cinema : Discuss why the leader is effective or not considering power sources and its situatio
Which would classified as a liability in financial statement : Salty Ltd is planning to buy a new property, Which would be classified as a liability in the current financial statements for the following businesses?
How senior leaders versus senior managers lead change : Review the distinction between leadership and management. Then think about this in regard to how senior leaders versus senior managers lead change.
Distinguishing between applied and basic research : Distinguishing between applied and basic research-why should managers know something about research?
Describe the ramifications of noncompliance with pci dss : From the standpoint of a security professional helping a small business owner understand the ramifications of noncompliance with PCI DSS, develop a Microsoft.
Identifying peak seasons : Hotels that have real-time data at their fingertips can make informed, data-driven decisions that affect their bottom line, from identifying peak seasons

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd