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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.
Q. What is current ratio in terms of accounting? The current ratio specifies the short-term debt-paying ability of a company. To find the current ratio we divide current assets
Q. Show Accumulated depreciation account with example? Micro Train credits the depreciation amount to an accumulated depreciation account which is a contra asset rather than di
Given a net income of $90,000, what is the return on investment for 2000? A. 7.9% B. 22.22% C. 22.78% D. 24.8%
Q. How does asset cash increase? An asset cash increases (debited) as well as a liability unearned service revenue increases (credited) by USD 4500. The credit is to Unearned S
in cash flow statement, deductions from cash expences and payments to creditor. how do you get this answer
As part of their divorce agreement , Harry transfers to Mary, his former spouse, GM stock with a market value of 30000, Harry had $20000 invested in the stock. How does this transf
1. For each of the following accounting assumptions/principles, explain a business transaction: (a) Accounting Entity Assumption (b) Going Concern Assumption (c) Matching Prin
Lego Toys is planning to produce new toys at its factories. The setup cost of the production facilities, production costs and profits for each toy are given below: Toy Setup c
Q. Transactions affecting only the balance sheet? Since every transaction affecting a business entity must be recorded in the accounting records analyzing a transaction before
ACCOUNTING STANDARDS An Accounting Standard is a elected set of accounting policies or broad strategies concerning the principles and methods to be elected out of numerous subs
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