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Q. Explain about statement of cash flows?
Retained earnings usually consist of the accumulated net income of the corporation minus dividends distributed to stockholders. We examine these items later in the text. Currently merely note that the balance sheet heading comprise the name of the organization and the title and date of the statement. Notice as well that the dollar amount of the total assets is equal to the claims on (or interest in) those assets. The balance sheet demonstrates these claims under the heading Liabilities and Stockholders' Equity. Administration is interested in the cash inflows to the company and the cash outflows from the company for the reason that these determine the company's cash it has available to pay its bills when due. The statement of cash flows demonstrates the cash inflows and cash outflows from investing, operating and financing activities. Operating activities generally comprise the cash effects of transactions and other events that enter into the determination of net income. Investing activities usually include business transactions involving the acquisition or disposal of long-term assets such like buildings, land and equipment. Financing activities usually include the cash effects of transactions and other events involving creditors and owners stockholders.
It explains the statement of cash flows in detail. Our principle here is to merely introduce this important financial statement. Usually a firm prepares a statement of cash flows for the same time period as the income statement. At this end in the course you require to understand what a statement of cash flows is rather than how to prepare it.
Q. What is Current liabilities? Current liabilities are debts due inside one year or one operating cycle whichever is longer. The payment of current liabilities usually require
leagl provision of partner ship accounts
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White Lightning Inc. report income from continuing operation before income taxes of $626,000 for the year ended 12/31/2004. During October of 2004, White Lightning elected to phase
i need to pay rent for 3 year 2011,2012,and 2013. am in 2012 1 December. what entries will be there for rent account and the rant account balance amount
Answer the following questions in 200 to 300 words: · Nonprofit organizations are required to produce financial statements based on the accrual method of accounting
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State the term - Partnership A partnership exists where at least two individuals carry on a business together with intention of making a profit. Partnerships have much in commo
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