The accounting equation can be restated as: Assets Equity = Liabilities a. True b. False
A file which maintains all of a http://creaspace.ru/users/profile.php?user_id=24247‘s accounts. The difference between the amount of budgeted or standard labor costs relative to the actual cost. This can be broken down into Labor Rate Variance and Labor Efficiency Variance. A company’s agent hired to facilitate and manage the issuance of stocks or bonds. Hand on evaluation s of a company’s products and services. Market research can be an important tool.
- Unearned revenues are liabilities until goods are delivered or the earnings process is substantially complete.
- The high-low method utilizes two points of reference in the determination of fixed and variable cost components; costs for the period of highest volume and costs for the period of lowest volume.
- The inventory transactions affecting inventory quantities and costs include inventory purchases, purchase discounts and returns, sales and sales returns.
- The amount of this annual preferential right to dividends is calculated per share by multiplying the preferred stock’s stated preference rate times the stock’s par value.
- Which one of the following is not an external user of accounting information?
A http://www.kolorknits.com/craft/sportivnaya-odezhda/adidas-shorty-muzhskie-samba-tight-siniy-557878.html used in financial statement analysis to evaluate a company’s management of its inventories. The ratio is determined by dividing the amount of cost of goods sold for a period by the average balance of inventory maintained during that period. The average balance of inventory is usually calculated by adding the amounts of beginning and ending inventory and dividing that sum by two. The resulting inventory turnover reflects the number of times the company buys and then sells its entire average balance of inventory during a period of time.
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The term debtor is synonymous with borrower. Potential liabilities and losses of the company that may be recognized before the final resolution depending on the perceived probability of the outcome Probable, reasonable possible or unlikely. The amount of interest earned during each compounding period is based on both the amount of the original investment and any previously earned but unpaid interest to date. It effect, if means that interest is earned on interest. The establishment of plans for the acquisition and financing of long-term assets such as property, plant, and equipment. The lease term is equal to or greater than 75% of the estimated economic useful life of the property. The lease provides the lessee with full ownership of the property at the end of the lease.
The SEC is a private organization of accountants. The SEC often mandates guidelines when no accounting principles exist. The SEC and FASB rarely cooperate in developing accounting standards. Financial accounting provides economic and financial information for all of the following except a. Creditors.
Bad debt expense
In many cases, partial principal payments are required during the term of a note or loan. Some notes call for the entire principal amount to be made at the end of the loan term. The manual or electronic transfer of an originally recorded debit or credit journal entry to the proper general ledger account. Postings to any general ledger account that has a supporting subsidiary ledger must also be made to the appropriate detailed account within the subsidiary ledger. The proprietors, partners or corporate stockholders in a business.
https://igv.nl/shop/good/1005003384502071-5pcs-y60nk30z-to-247-300v-60a is a critical asset for most companies and needs to be well-managed. Having sufficient inventory to satisfy customer demand and promote sales is crucial. Having excessive inventory can, on the other hand, be expensive due to costs of space, maintenance, possible obsolescence and financing. Generally speaking, the higher a company’s inventory turnover the better as long as customers are satisfied with product selection and availability. Higher turnover results from lower inventory levels relative to sales volume.