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Under what circumstances would bills receivable account and bills payable account prepared while preparing final accounts from incomplete record?
There really is not any reasons as to why there would be an incomplete record. The only way would be from a computer error or just someone providing the incorrect information.
What is a computerized accounting system?
It is the accounting system under which books of accounts are prepared and managed by using specialized computerized accounting softwares like quickbooks, peachtree, SAP, oracle or Microsoft excel etc.
The presence of the Accounts payable account on a balance sheet indicates that the financial statement was prepared on what basis of accounting?
The presence of the Accounts Payable account on a balance sheet indicates that the financial statement was prepared on an accrual basis of accounting. Under this method, expenses are recognized when incurred, regardless of when cash is actually paid. This allows for the recording of liabilities, such as amounts owed to suppliers, thereby providing a more accurate picture of a company's financial position.
What is the presentation of account under IAS1?
Accounts
Who wrote under the pen name A Farmer in Pennsylvania?
john dickenson
Is preliminary expense comes under other assets in banking companies accounts?
is preliminary expense comes under other assests in banking company accounts
What account type is accounts payable?
Accounts payable is a liability account. When something is purchased on account it falls under this category such as purchasing $10,000 worth of office supplies on account. You would debit the office supplies account under assets and credit accounts payable under liabilities.
Why mixed cropping is done?
this is so that a farmer can get more out of an area under cultivation
What is the effect on soil when a farmer under-grazes his pastures?
the effect is that the soil will be pastures
Under what circumstances are the built-in user accounts no longer local user accounts?
as soon as you add active directory
Allowance for doubtful accounts is listed on the balance sheet under what caption?
Answer:The allowance for uncollectible accounts is a contra T-account to accounts receivable. Both are presented under current assets. The allowance can also be subtracted from accounts receivables, showing the net value (common for listed companies).
When petty cash falls under the accounts payable umbrella what guideline should be set?
when petty cash falls under the accounts payable umbrella, what guidlines should be set?
