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Creditors: this may be short or long-term lenders. Short-term creditors comprise suppliers of materials, services or goods. They are generally termed as trade creditors. Long-term creditors are those who contain lent money for a long period, generally in the form of secured loans. The major concern of the creditors is focused upon the credit worthiness of the firms and its capability to meet its financial obligations. Therefore they are concerned along with the liquidity of the firms, its productivity and financial soundness. Conversely, it can also be stated as creditors are interested mostly in information that deals with solvency, liquidity and productivity hence they could assess the financial standing of the firms.
Classify the following items as (a) deferred expense (prepaid expense), (b) deferred revenue (unearned revenue), (c) accrued expense (accrued liability), or (d) accrued reven
Provided services on credit to Yamato P/L $5 900. How do we apply this in the t accounts
Determine about the Sales returns and allowances Allowance results when a buyer decides to keep defective or damaged goods though at a reduction from the original price.
What is the latest change taking place in the accounting world that will make a big difference to the way accountants prepare accounts?
Q. Explain Merchandising companies? Merchandising companies buy goods that are ready for sale and then sell them to customers. Merchandising companies comprise clothing stores,
decrease in owners equity decrease in owener''s equity
Identify and explain the two ratios that are used to assess the solvency of a business.
Q. Explain about pegboard system? One more innovation in manual systems was the one write or pegboard system. Beside creating one document and aligning other records under it o
On october 5 2011 mara hotel collectedmthe amount of 180000 repreesenting advanced rental from a tenant who occupies space of the building. tHe advanced rental willcover the period
norman co borrows $15,000 with a 8%interest 38,000 account receivable paid $26,000 salary
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