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Fluid Balance
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What type of information does a balance sheet provide?
company assets and liabilities.
On which type of form can the best indicators of wealth be shown?
balance sheet
What type of an account is account payable?
balance sheet account liability
Is a balance sheet the same as a financial statement?
Balance sheet is a type of financial statement. Other types of financial statements could be income statement and statement of cash flow.
What are the basic type of financial statmentsprepared by business enterprise?
Profit & loss account and balance sheet
What type of account is asset account?
An asset account is a "balance sheet" account. That is, when financial reports are created, the balances in asset accounts are reported on the balance sheet*, together with the balances in liability accounts and shareholders' equity accounts, and not on the income statement (which reports only revenues and expenses for the period of time ending on the balance sheet date.) *Another name for the balance sheet is the Statement of Financial Position.
The type of account and normal balance of Unearned Rent is?
The normal balance of Unearned Rent is typically a liability credit entry. The balance will show up in the post-closing trial of the balance sheet.
What type of account is Merchandise Inventory?
Merchandise Inventory is an asset account that shows up on the balance sheet.
What is common size balance sheet?
A common size balance sheet is a type of standardized financial statement that completely lists all of a firms specific assets, liabilities, and equity claims as a percentage of a firms total assets.
Does preferred stock go on the balance sheet?
Prefered Stock is one type of share capital issue to public with preferential rights available to them like they must get return on shares whether company earns profit or loss they are the people get their returns etc. So as it is a type of share capital so it also includes in share capital of company and shown in owner's equity part of liability side of balance sheet.
Which type of account is prepaid expenses?
Prepaid expense is personal account in nature and default normal balance is debit balance and shown under current asset in asset side of balance sheet.
What type of account is Prepaid Insurance?
Prepaid insurance is personal nature of account and amount in it is shown as current asset in balance sheet.
