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Q. What do you mean by note?
A note is an unqualified written promise to pay another party the amount owed either when demanded or at a certain specified date habitually with interest a charge made for use of the money at a specified rate. A note receivable become visible on the balance sheet of the company to which the note is given. A note receivable occurs when a company makes a sale and receives a note from the customer when a customer gives a note for an amount due on an account receivable or when a company loans money and receives a note in return. Section 9 discusses notes at length. Other current assets might comprise interest receivable and prepaid expenses. Interest receivable arises when a company has earned however not collected interest by the balance sheet date. Typically the amount isn't due until later. Prepaid expenses comprise insurance, rent and supplies that have been paid for but all the benefits have not yet been realized (or consumed) from these expenses. If prepaid expenses hadn't been paid for in advance they would require the future disbursement of cash. Additionally prepaid expenses are considered assets because they have service potential.
Q. General principles of accounting? Organizations that have contributed towards the development of the principles are the 1)American Institute of Certified Public Accountants
The salaries paid in 2004 is Rs. 5,00,000; Salaries outstanding is Rs. 20,000; Salaries paid in advance for 2004 is Rs. 30,000. What is the actual salary expenditure for 2004? Wh
what is peacemeal districbution ..
How many kind of Assets?
the meaning of dual concept
Two companies enter into loan agreements on 1 March 2012. On that date they also enter into an agreement to swap the loans. The details for each company and loan are: L R R Hood
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Management accounting and financial accounting Accounting is generally seen as having two different strands which are: ? Management accounting that seeks to meet accounting
What is the implication of applying accounting concepts wrongly
differenciate between a cash book and a ledger
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