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The balance sheet lists assets, capital and liabilities separately. This is an accepted convention about the assets and liabilities are demonstrated in sub groups and listed in the order of their liquidity or Permanence.
The balance sheet in our illustration or format is presented in the T account form. Such is the assets are listed in liabilities and one side and owners' equity on another.
The other commonly used way of presentation is the report form where liabilities and capital are listed over the assets. Though, the presentation matters extremely little as the balance sheet represents the equality among assets, capital and liabilities.
Imputed Interest - If no interest or an unrealistic amount of interest is charged in a salve involving certain kinds of deferred payments, then transaction would be treated as if r
It is a national organization of female Certified Public Accountants (CPAs) in America. The AWSCPA was established to encourage the interests of female CPAs in America by diverse
Formed under the Securities and Exchange Act of 1934 the SEC (Securities and Exchange Commission) is a government agency that administers important acts dealing with the interstate
Q. Define Economic and financial decisions? You most likely will find that of all the business knowledge you have acquired or will learn the study of accounting will be the mos
Standards at International Level: In view of the development of international trade and multinational enterprises, the requirement for standardization at the international level w
QUESTION The recognition of human capital by modern businesses has led to the development of Human Resource Accounting (HRA) Required- (a) Explain the following terms-
This time of year we all here about football. For me it is the bad news of how poorly the Buffalo Bills are performing. Hopefully your favorite team is doing well. One thing we all
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We have a demonstration instrument that was paid for years ago. How do we get it back on our books as an asset?
payment made to vendor but rejected by bank
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