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Q. What is the use of balance sheet?
Balance sheet -- a statement of the financial position of a company at a single specific time(often at the close of business on last day of the month, quarter or year.) Balancesheet generally lists all assets on the left side or top whereas liabilities and capital are listed onthe right side or bottom. Total of all numbers on the left side or top should equal orbalance the total of all numbers on the right side or bottom. A balance sheet balancesaccording to this equation: Assets = Liabilities + Capital.
Ryan's Express has total credit sales for the year of $178,000 and estimates that 3% of its credit sales will be uncollectible. Record the end-of-period adjusting entry on Decemb
Q. Describe the Cost of sales? Cost of sales, cost of goods sold -- expense or cost of all items sold during an accountingperiod. Every unit sold has a cost of sales or cost of
The ratio of __________ to __________ is an example of a __________ ratio. A. quick assets; current liabilities; leverage B. cost of goods sold; total assets; asset utilization
1. Carmen Santiago works for a number of businesses as a “consultant.” She has helped design accounting systems, provided accounting services, and analyzed the financial s
On January 1, 2012, Lexmark Company's Accounts receivable account had a debit balance of $10,000. During January, 2012, the company billed customers for services in the amount of
Q. Describe about Borrowed money? The company lent USD 6000 from Chaney's father. Chaney signs the note for the company. The note turn off no interest and the company promised
Amounts paid on June 30 for a 1-year insurance policy. Is this a pre¬paid expense, (2) unearned revenue, (3) accrued expense, (4) accrued revenue, or (5) none of the foregoing.
When we say an asset is at its Net Book Value, Does that mean Cost of asset + Revaluation added - Accumulated Depreciation or Revaluation is not relevant for calculating the NBV?
I want a company law assignment
Q. What is Long-term liabilities? Long-term liabilities are debts such as a bonds payable and mortgage payable that aren't due for more than one year. Companies must show matur
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