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Q. External users of accounting information?
The external users of accounting information grouped into groups; everyone has different interests in the company and wants answers to unique questions. The six groups and some of their possible questions are:
• Owners and potential owners. Has the company earn satisfactory income on its total investment? Necessity an investment is made in this company? Must the present investment be decreased, increased or retained at the same level? Be able to the company install costly pollution control equipment and still be profitable?
• The Lenders and Creditors. Must a loan be granted to the company? Will the company can pay its debts as they become due?
• The Employees with their unions. Does the company have the capability to pay increased wages? Is the company financially capable to offer long-term employment for its workforce?
• Customers. Does the company tender useful products at fair prices? Will the company continue to exist long enough to honour its product warranties?
• Governmental units. Is the company such like a local public utility charging a fair rate for its services?
• General public. Is the company providing valuable products and gainful employment for citizens without causing serious environmental problems?
Q. Explain about stable dollar assumption? In the United States accountants make one more assumption regarding money measurement that the stable dollar assumption. Under the st
Q. What do you mean by Capitalize? Capitalize -- to capitalize means to record an expenditure on balance sheet as an asset,to be amortized over the future. Opposite is to expen
a decrease in owner''s equity may result from a(n) a. purchase of office supplies for cash b. withdrawal of cash from the business by owner c. revenue that is derived from sales of
Q. What are Accrued items explain with example? Delayed items consist of two types of adjusting entries asset/expense adjustments and liability/revenue adjustments. For instanc
Q. Define about Assets and Liabilities? Assets are feasible future economic benefits obtained or controlled by a particular entity as a result of past events or transactions.
Q. What is sales allowance? A sales allowance is a inference from the original invoiced sales price granted when the customer keeps the merchandise but is dissatisfied for any
Q. What is matching principle? Expense recognition is closely related to as well as sometimes discussed as part of the revenue recognition principle. The matching principle sta
Cartwright inc has $1,000,000 of 10% bonds outstanding on December 31, 20x8. On January 1, 20x9 adams corp and 80% owned subsidiary of Cartright, inc purchases a $250,000 part of c
hi is any one out there?
After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $673,400, and Allowance for Doubtful Accounts has a balance of $11,90
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