P 52,500 14,500 12,500 ? Machinery Accrued expenses Unearned income Cash P 55,000 7,000 5,000 21,000 Accounts payable Notes receivable Office Equipment Access, capital Accrued income 30,000

Q: The difference between book value of the asset with the proceeds receive from its sale, with result…

A: Assets:   It refers to the economic value of all resources owned by the business at a given point in…

Q: How Interest, Principal, and Loan Balance Illustrated?

A: Answer: Interest is measured as a percentage of a loan balance, annually paid to the lender for the…

Q: What is the formula for the NET FIXED ASSET if it is not given in the financial statement?

A: The net value of a company's fixed assets is measured using net fixed assets. In a nutshell, net…

Q: What is residual value or salvage value? Why and how is it calculated in accounting?

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

Q: normal balance of asset, liability, and equilt

A: The balance sheet shows the financial position of the company that including the assets,…

Q: Define Accrued liabilities.

A: Liability are the obligations owed by an organization to the outsiders. Liabilities are classified…

Q: What is owner Capital listed as a debit or credit

A: Solution: Owner capital is the amount of capital invested in business by owner. This is shown as…

Q: Explain financial asset held for trading

A: There are many types of assets held by a firm on its balance sheet. Each type of asset has different…

Q: Where Are Depreciation Expenses Reflected in a Financial Statement?

A: DEPRECIATION EXPENSES    Depreciation Expense Means Gradual Decrease in the Value of an Assets due…

Q: WHAT IS CONTRACTUAL LIFE OF ASSETS?

A: An asset is a resource of economic value which is own by an individual and a company and provides…

Q: What is non current assets ?

A: Current assets means those assets which will be converted in to cash in near future generally one…

Q: What does the Total-Assets-Turnover Ratio measure?

A: The asset turnover ratio computes the value of the benefits or income of an organization comparative…

Q: What is the normal balance for an asset account?

A: Assets means the resources owned by business for the use in furtherance of business.

Q: le

A: Formula:  Current ratio = Current assets / Current liabilities Working capital = Current assets -…

Q: Give an example of Current Asset, Current liabilities, Non Current Asset, Non Current Liabilities

A: 1. Current Assets : These are the assets which are convertible into cash within a Year   Example: 1.…

Q: What is the relationship of the asset turnover to the return on assets?

A:

Q: What are the Required disclosures about each major class of capital assets?

A: Capital asset refers to the assets with a longer useful life i.e. more than a year and is not…

Q: Define both current liabilities and current assets. In what ways are they related?

A: Maintaining an appropriate balance between current assets and current liabilities is crucial for a…

Q: Is accrued interest an asset, liability or owner's equity?

A: Accrued interest refers to the amount of interest that is earned or incurred till the reporting…

Q: what is meant by Working Capital and, the meanings of Receivables, Inventory and Payables?

A: Meaning of Working Capital  Working capital, also referred as net working capital (NWC), is the…

Q: How do you treat net loss on a balance sheet?

A: Balance sheet: It refers to a financial statement that shows all the liabilities, assets, and…

Q: Under what conditions should investments be classified as current assets? As long-term assets?

A: A current asset is a cash and other assets that are reasonably expected to be converted into cash…

Q: Which assets depreciate?

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: What are the differences between assets and expenses

A: Definition of Assets: Properties or things owned by business

Q: Borrowing cost can be capitalized as cost of the assets when

A: Borrowing costs are costs related to amount borrowed or loans taken. This is the interest expense…

Q: What type of balance do asset accounts have?

A: A ledger accounts account known as an asset account is used to group and keep track of the debit and…