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Q. Explain about Stockholders equity?
Stockholders' equity demonstrates the owners' interest in the business. This interest is equivalent to the amount contributed plus the income left in the business. The items in stockholders' equity in The Home Depot's balance sheet are paid-in capital (including common stock) and retained earnings. Paid-in capital demonstrates the capital paid into the company as the owners' investment. Retained earnings demonstrate the cumulative income of the company less the amounts distributed to the owners in the form of dividends. Cumulative translation adjustments consequence from translating foreign currencies into US dollars. The next section demonstrates how two categories on the classified balance sheet relate to each other. Together they assist reveal a company's short-term debt-paying ability.
Q. What is Estimated useful life? The estimated useful life of an asset is the approximate time that a company can use the asset. Useful life is estimation not an exact measure
Q. Explain Merchandise inventories? Merchandise inventories are goods supposed for sale. Section 6 starts our discussion of merchandise inventories.
Determining needed adjustments Adjustments are required since certain changes take place during the accounting period. As time passes, although, the value of the asset is consu
Q. Explain about Percentage of completion method? The percentage-of-completion method makes out revenue based on the estimated stage of completion of a long-term project. To ca
Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-term Debt $36,000 Building $150,000 Notes Payable $9,000 Equip
Governmental agencies at the state, federal, and local levels employ governmental accountants. Habitually the duties of these accountants relate to tax revenues and expenditures. F
Workers compensation insurance Workers compensation insurance provides protection for employees who suffer a job-related illness or injury. Entire cost is generally paid by t
the guinegog is a trader in portable cd-man. His budgeted output is 5000 units per quarter. The following data was available for the year 1998: Direct labour @ $6 Direct material @
Q. Explain Statement of retained earnings? The statement of retained earnings demonstrates the change in retained earnings between the beginning and end of a period e.g. a mont
Q. External users of accounting information? The external users of accounting information grouped into groups; everyone has different interests in the company and wants answers
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