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Based on the concept of big companies probably do not record all its assets as assets?
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Where do you record credit purchases of fixed assets?
in fix assets
What are debits used to record?
assets
How deprecaition interacts with prudence and matching concepts?
Prudence concept tends to understate the profit . depreciation is a tool through which we record our losses , which means that our profit is declining .This means that depreciation is a supportive tool for reducing profit. Matching concept tends to record the expense to the revenue generated from the assets . Hence depreciation fulfils the requirements of both the concepts .
What account is used to record the transfers of assets from a business to its stockholders is?
The dividend account is used to record transfers of assets from a business to its stockholders. It is a temporary account that closes before the end of the accounting year.
Failure to record depreciation at year end will result in an?
overstating total assets.
What is historical concept?
historical concept means tangible assets are record on the the original price, in which an assets is acquired.
Where do you record credit purchases of fixed assets?
in fix assets
What are debits used to record?
assets
How deprecaition interacts with prudence and matching concepts?
Prudence concept tends to understate the profit . depreciation is a tool through which we record our losses , which means that our profit is declining .This means that depreciation is a supportive tool for reducing profit. Matching concept tends to record the expense to the revenue generated from the assets . Hence depreciation fulfils the requirements of both the concepts .
What is balnce sheet?
Balance sheet is the record of Assets and Liabilities.
What happens to my financial statement if I don't record a prepayment?
The assets in the balance sheet will be understated as prepayment is under the assets account.
What account is used to record the transfers of assets from a business to its stockholders is?
The dividend account is used to record transfers of assets from a business to its stockholders. It is a temporary account that closes before the end of the accounting year.
How do you record transactions using the accounting equation?
Assets= Liabilities + Equity
How much Chris Brown's made for his record companies?
don't know. plus that's his and his record companies business
What are the two parts of stockholder's equity in a corporations and indicate the purpose of each?
Stockholders' equity consists of two parts: common stock and retained earnings. Companies record as common stock the investments of assets into the business by the stockholders. They record as retained earnings the income retained for use in the business.
Disadvantge for not maintaining a fixed asset register?
No proper record for you assets available, therefor you would not be able to estimate the value of your assets and company.
What is the basic concept of the seismic instruments?
The basic concept of seismic instruments is to record vibrations. Older machines use paper, ink, and a drum to record the level of vibrations.
