Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Equity segment of a corporate balance sheet?
The stockholders' equity segment of a corporate balance sheet can become more complex as you will see later in the text. But the items in the owner's equity section of the balance sheets of a sole proprietorship and a partnership always remain as just shown. In a solitary proprietorship the owner's capital balance consists of the owner's investments in the business plus cumulative net income since the starting of the business less any amounts withdrawn by the owner.
Therefore all of the amounts in the various stockholders' equity accounts for a corporation are in the owner's capital account in a single proprietorship. In a partnership every partner's capital account balance consists of that partner's investments in the business plus that partner's cumulative share of net income since that partner became a partner less any amounts withdrawn by that partner.
The Dividends account in a corporation is alike to an owner's drawing account in a single proprietorship. These accounts both illustrate amounts taken out of the business by the owners. In a partnership every partner has a drawing account. Accountants treat liability, asset, revenue and expense accounts similarly in all three forms of organization.
Question: You have decided to borrow $20,000 so that you can consolidate the loans you currently have with other lenders. You have agreed to repay the loan in 8 equal semi-annu
Advantages and disadvantages of FIFO The FIFO method has four main advantages (a) it is easy to apply (b) the assumed flow of costs corresponds with the normal physical flow o
basic methods for calculating depreciation
difference between credit and debit
Question : The several evaluative criteria for evaluating revenue measure or system are: ? Yield ? Political expediency ? Ease of administration ? Consistency
what is the implication of applying accounting concepts wrongly
1. An accountant records a transaction when cash is paid or received under which basis of accounting? cash deferred accrual liability 2. When unearned revenue is initially rec
Q. Illsutarte the Summary of transactions? Summary of transactions is a teaching tool utilized to show the effects of transactions on the accounting equation. Note that the sto
Q. Underlying assumptions or concepts of accounting? The major underlying assumptions or concepts of accounting are (a) business entity (b) going concern (continuity) (c) money
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.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd