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Q. Can you explain about balance sheet?
The balance sheet, sometimes called as the statement of financial position lists the liabilities, company's assets and stockholders' equity including dollar amounts as of a specific moment in time. That precise moment is the close of business on the date of the balance sheet. Observe how the heading of the balance sheet differs from the headings on the income statement and statement of retained earnings. A balance sheet is similar to a photograph it captures the financial position of a company at a particular point in time. The other two statements are meant for a period of time. As you study regarding the liabilities, assets and stockholders' equity contained in a balance sheet you will understand why this financial statement provides information about the solvency of the business.
Home Inc. is considering buying a new piece of equipment, which will cost $715,000 and has an economic life of 5 years, in order to make a new line of product. The company believe
Q. What do you understand by Goodwill? Goodwill -- in accounting, difference between what a company pay when it buys theassets of another company and book value of those assets
Please use the following information to answer questions 4-5: Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-
Determine the additional cash a company could obtain from its working capital accounts if it can improve its average collection period by three days and inventory turnover by 0.5 t
twhat is debit?
Q. General accepted accounting principles? In general accepted accounting principles (GAAP) set forth standards or methods for presenting financial accounting information. A
Q. What are Bad debts? Bad debts -- amounts owed to a company which aren't going to be paid. An accountreceivable becomes a bad debt when it's recognized that it won't be paid.
We are here left along with statement (d) that defines an accountant as a professional and emphasize his pre-occupation within management of information for internal utilization as
The operating expenses section Operating Expenses - directly associated to the sale of merchandise General expenses (administrative expenses) related to business's offic
Q. What is credit balance? If on the other side the sum of the credits exceeds the sum of the debits the account has a credit balance. For example assume that a company has an
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