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The charter of the church, in the incorporation papers that should have been filed with the state, usually have a clause that directs how the property and assets will be disbursed. If the church is a member of a larger denomination, the legal associates should be able to provide the correct process.
If there is no such clause, then the state attorney general may bring an action in cy pres to determine the appropriate disposition of the charitable assets (finding a similar purpose).
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∙ 16y ago
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What is the name of the protestant church started be king Henry 5?
It was not Henry 5, but the 8th. He began the Reformation by closing the Catholic Church and taking their assets. The church he created was the Church of England.
What are the Average Rate of Return ARR?
Average rate of return = Net Income / Average Assets Average assets = (opening assets - closing assets) / 2
How does closing stock effect the balance sheet?
closing stock will increase current assets in Balance sheet
Can the inheritors force the executor to sell assets?
No, they cannot force the executor to sell assets. The executor is responsible for closing out the estate and settling debts. Then the distribute the assets.
Is there is closing stock is equal to current assets subtracted to liquid assets?
The physical stock of raw materials, semi finished and finished goods as on the date of closing say 31St December or 31st March is ascertained on checking/counting that match with the book value is called closing stock
When a Catholic church closes and a neighboring church is in need of new pews can the closing church donate the pews?
Yes, if they want to.
If the current assets is 5549900 the closing stock is 723200 and current liabilities is 5001400 what is the acid test ratio and comment on it?
minus stock from current assets and then divide it by curent liabilities ... this is the ratio (current assets-stock)/ current liabilies
What Accounts should always have a zero balance after all closing entries are completed?
Assets, liabilities and owner's equity
Why is the Catholic Church closing profitable churches?
Because greed is a cardinal sin.
A post-closing trial balance contains?
Post-Closing literally translated means "after the closing". A post-closing trial balance is created after all temporary accounts (expenses, revenue) are closed to the income summary and then the statement of retained earnings.The post closing trial balance will contain these permanent accounts. Assets, Liabilities, and all Equity accounts. (including retained earnings and stock)
What affects did the Reformation have on wrexham?
it affected it by closing down all the church's in the wrexham area
What is the difference between preparing a trial balance and preparing a balance sheet?
AnswerTrial Balance is a statement showing the closing balances of all the ledger accounts and Balance Sheet is a statement showing the closing balances of Assets and Liabilities.
