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Q. Explain about Equity or net asset?
An equity or net asset is the residual interest in the assets of an entity that remains subsequent to deducting its liabilities and in the business enterprise the equity is the ownership interest and in the not-for-profit organization which has no ownership interest in the same sense since business enterprise net assets is divided into three classes based on the absence or presence of donor-imposed restrictions are a) permanently restricted b) temporarily restricted and c) unrestricted net assets.
Accrual Concept The accrual concept makes a distinction among the receipt of cash, and the right to obtain it, and the payment of cash and the legal obligation for pay it. In
After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. e
GENERAL
Creditors: this may be short or long-term lenders. Short-term creditors comprise suppliers of materials, services or goods. They are generally termed as trade creditors. Long-term
Q. What do you mean by Risk management contracts? In the normal course of business the Company utilizes a variety of off-balance-sheet financial instruments to manage its expos
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
In Exhibit the accurately stated ending inventory for the year 2009 is USD 35000. As a result Allen has a gross margin of USD 135000 as well as net income of USD 50000. The stateme
White Lightning Inc. report income from continuing operation before income taxes of $626,000 for the year ended 12/31/2004. During October of 2004, White Lightning elected to phase
For earnings management, is impairment of goodwill easier to manipulate than impairment of PPE?
Q. Show depreciation formula with example? The depreciation formula (straight-line) to calculate straight-line depreciation for a one-year period is: Annual deprecation = (
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