How does a company record a bill in its books that was forgiven by creditor?
A very good idea. Any charge off - which is really only an accounting entry on the books of your creditor - that you haven't received an offical agreement/notice that the creditor has actually forgiven the debt and relieved you of having to pay, (not just accepted it may be worth nothing and uncollectable), is still an obligation to you.
a company secretary is defined as an officer appointed by the board of directors to ensure that the legal obligations is complied as demanded by the company legislation's. the company secretary has some roles and duties to perform. below are few of them; calling for meetings, recording of minutes, keeping statutory record books etc.
The books and records of a company are the accounting books and records, the book of the minutes of the meetings of the board of directors and the shareholders, and the bylaws and changes adopted by the board of directors, and the company chartering documents from the jurisdiction in which the company is chartered. Other documents, such as personnel and operation's reports and records, are not usually deemed the books and records of the company…
What invention enabled the Chinese to permantly record their knowledge and Eurpean to produce books in quantity?
If your business receives a gift - such as a computer from your relative - do you have to record this is your books?
You certainly don't have to make an entry because there was no financial transaction. However, if the relative gave the computer to you and you put it in the business, you could record the asset at a fair value and credit Loan From Stockholder. This way you get two tax benefits. First, the company gets a deduction for depreciation expense; and second, you get a tax-free distribution when the company pays the loan.
The Ex date is the last day which the seller will get the declared dividend. It is generally two trading days before the record date. The record date is the date which the dividend is assigned to the owner on the company's record books. The difference exists because of the time lag between the actual sale of the stock and when it's recorded on the company's books. So if you buy a stock on the…
In a company sale has been done and half of the amount received in current year and half of the amount will be received in next year what would be the entry passed in current books of accounts?
NO! When reporting accounts the creditor/collections company, by law, must report it from the date of last activity. If no payments have been made on the charged-off account it should be disputed with both the CRA and the creditor. What they have done is illegal. Here is a different opinion from another FAQ Farmer: I think that response is well, not wrong, but not on point and confusing. A charged off debt is not a…