When you have something listed in the category of current

Assignment Help Accounting Basics
Reference no: EM13606066

When you have something listed in the category of current liabilities, it is your intention to pay the obligation sometime within the next 12 months. However, is something is listed as a long-term liability; you have no idea whether it is due to be paid within 2 years or 20 years. Do you think it would be helpful if long-term liabilities were separated into different categories such as "obligations within the next 5 years," "obligations within the next 10 years," "obligations longer than 10 years," and so on?

Reference no: EM13606066

Questions Cloud

Compute the value of the 2010 and 2010 inventories using : arna inc. uses the dollar-value lifo method of computing its inventory. data for the past 3 years follow.year ended
How are intangible assets accounted for how does goodwill : how are intangible assets accounted for? how does goodwill differ from the rest? what makes it unique? how does the
What is the shortest distance you need to walk forward to : imagine you are in an open field where two loudspeakers are set up and connected to the same amplifier so that they
The collector transfers heat by natural convection to the : a flat plate solar collector 6 ft by 12 ft is mounted on the roof of a house. the outer surface of the collector is at
When you have something listed in the category of current : when you have something listed in the category of current liabilities it is your intention to pay the obligation
Millenium bought a custom-made piece of equipment for 36000 : millenium bought a custom-made piece of equipment for 36000. this equipment has a useful life of 6 years. millenium
Interest rate on a single payment your parents will retire : interest rate on a single payment your parents will retire in 18 years. they currently have 250000 and they think they
The following data were obtained from an analysis of the : adjusting entriesthe following data were obtained from an analysis of the accounts of co. a as of march 31 2008 in
Present and future value of an uneven cash flow stream an : present and future value of an uneven cash flow stream an investment will pay 100 at the end of each of the next 3

Reviews

Write a Review

Accounting Basics Questions & Answers

  Net cash from operating activities

Why may net cash flow from operating activities on the cash flow statement be different from the amount of net income reported on the income statement?

  What is thompson accounts receivable turnover

Evaluate the following scenarios, assuming both companies use the accounts receivable method of estimating bad debts expense.

  Investments in equity securitie

Describe how investors report investments in equity securities when investor has controlling influence over an investee. (US GAAP)

  Sales 800000 cost of goods sold 300000 accounts recievable

sales 800000 cost of goods sold 300000 accounts recievable 20000 bonds outstanding 160000 accounts payable 20000

  The red white amp blue partnership was begun with

the red white amp blue partnership was begun with investments by the partners as follows red 129000 white 159000 and

  The lifo inventory method has been used the fifo inventory

valman company is considering purchasing ekc company. ekcs balance sheet at december 31 2013 is as

  Miller engine research is expanding its research and

miller engine research is expanding its research and production capacity to introduce a new line of fuel technology for

  Standard cost of the ingredients for one gallon of wine

Tony estimates that 4% of the grape concentrate is wasted, 10% of the sugar is lost, and 20% of the lemons cannot be used. Compute the standard cost of the ingredients for one gallon of wine.

  The expense recognition principle relates to credit losses

The expense recognition principle relates to credit losses by stating

  What effect will recording the estimate of uncollectible

Shupe Inc. estimates uncollectible accounts based on the percentage of account receivable. What effect will recording the estimate of uncollectible accounts have on the accounting equation?

  On february 1 2013 fox corporation issued 9 bonds dated

on february 1 2013 fox corporation issued 9 bonds dated february 1 2013 with a face amount of 200000. the bonds sold

  In a year of rising costs and prices the firm reported net

in a year of rising costs and prices the firm reported net income of 480000 and average assets 3600000. if natco had

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd