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in stockholders' equity
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∙ 14y ago
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What is unrealised exchange gain or loss?
other comprehensive income
What is the journal entry when you have not fully depreciated as asset that no longer exists?
Debit accumulated depreciationdebit loss on disposalCredit fixed asset
How financial information presented?
Financial information is usually presented to board members at every board meeting. It is presented in writing, and subject to board approval. Typically, a balance sheet and a profit and loss against the budget with variances and the last year's year to date information is presented. As requested, a scorecard or a cash flow statement may be presented as well.
How do you calculate disposal of fixed assets?
[Debit] Accumulated depreciation [Debit] Loss on disposal (if any) [Credit] Asset [Credit] Profit on disposal (if any)
How do you pass journal entry for vehicle sale?
Debit cash / bankdebit accumulated depreciationdebit loss (if any)Credit Vehicle accountcredit profit (if any)
What is a comprehensive car insurance loss type?
Comprehensive loss is any damage done to the vehicle other than collision.
What is unrealised exchange gain or loss?
other comprehensive income
Is it a collision or comprehensive loss if your garage door falls on your vehicle?
Comprehensive.
Comprehensive physical damage coverage pays for which kind of financial loss?
Comprehensive pays for loss or damage to your own vehicle due to theft, fire, and hail.
You discarded a display case that had 7200 of accumulated depreciation which was 8000 at original purchase what gain or loss are involved?
loss of $800
Would rim damage be covered under auto insurance?
Only if it were damaged in a 'covered loss.' A covered loss would be a collision or other loss that would be covered under comprehensive (such as vandalism). You would need those coverages on your policy.
What does accumulated deficit mean under stockholder equity on a balance sheet?
== == accumulated deficit is the net loss which is carried everyyear from p&l to balance sheet under stock holder equity. the net loss carried everyyear collectively is known as accumulated deficit == == http://www.investopedia.com/terms/s/shareholdersequity.asp
Where do you post unrealized gains and losses in Income Statement?
After you've worked out profit for the year create a new line called "Other Comprehensive Income". Under this put your "Gain/Loss on revaluation" or "Gain/Loss on available for sale investments". Then add on to/take it off your profit for the year to give you "Total Comprehensive Income For The Year".
How do you account for equipment stolen from business?
Loss by theft will be charged to profit and loss account for that specific fiscal year with the remaining amount after accumulated depreciation till that time period.
What is the journal entry when you have not fully depreciated as asset that no longer exists?
Debit accumulated depreciationdebit loss on disposalCredit fixed asset
What is the journal entry to retire an asset that was damagaged and no longer in use?
Debit accumulated depreciationdebit loss on disposalCredit fixed asset
Would it be collision or comprehensive that covers a car deer accident?
Wrong. Collision with an animal is considered a comprehensive loss. Collision with an animal is considered an exception to the definition of collision.AnswerCollision
