please state rhe two prymary of financial capital in addition state the two subcategories for each

Q: Would you please explin step 4  from where you for total assets and euity

A: Total assets includes the current assets as well as non current assets (including tangible and…

Q: According to the acquired assets should be recorded at the amount actually paid rather than at the…

A: Lets understand the each option given for the question to determine the correct answer. Monetary…

Q: Which are the Typical elements that are itemized in the income statement?

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: Balance sheet can be prepared in vertical, net asset and horizontal format. What is the difference…

A: Balance sheet refers to the financial statement of the business entity. It is divided into two…

Q: Knowledge Check 01 Which of the following describes how working capital is computed? Multiple Choice…

A: Working Capital is the operating liquidity of the company which is available to business or entity.…

Q: State the meaning of Income and Expenditure Account.

A: Accounting:   It refers to the process of recording the financial transactions of an organization…

Q: describe diff erent types of assets and liabilities and the measurement bases of each

A: Assets are worthy resources that business owns to get future benefits. They are fixed assets which…

Q: In financial statements, the fixed assets are shown at ... Select one: O a. Market price O b. None…

A: The GAAP is briefly known as the Generally Accepted Accounting Principles are the guidelines to be…

Q: describe the components of the income statement and alternative presentation formats of that…

A: Income statement is also called profit or loss a/c. Income statement shows the performance of the…

Q: Define net income.

A: Definition:   Earnings: The bottom line of an income statement which is the result of excess…

Q: Define Accruals.

A: Accruals for expenses means expenses incurred but payments are not made yet. Accruals fro incomes…

Q: Define the term income summary.

A: Closing entries: Closing entries are those journal entries which are passed to transfer the balances…