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How do you begin posting to the ledger accounts?
I would post first all assets
Why is an account receivable and cashed considered current assets while property and equipment are considered fixed assets?
Currents assets are assets that can quickly be turned into cash, therefore account receivable is because debtors can pay off their debt or the company can factor it and Property and equipment are difficult to turn into cash as you first have to find the suitable buyer and reconsider for sales
Why are accounts receivable and cash considered current assets while property and equipment are considered fixed assets?
Currents assets are assets that can quickly be turned into cash, therefore account receivable is because debtors can pay off their debt or the company can factor it and Property and equipment are difficult to turn into cash as you first have to find the suitable buyer and reconsider for sales
If you had total assets of 11700 a net working capitgal of 1400 owners equity of 5000 and long term debt of 3500 what is the value of current assets?
Balance Sheet is Total assets = total liability N.W.C = Current Assets - Current Liabilities First find out Current Liability Current Liability = Total Assets 11,700 - Total Debt Equity 8,500 = 3,200 CL 3,200 + N.W.C 1,400 = 4,600 Current Assets TA 11,700 = CA 4,600 + OA 7,100 TL 11,700 = CL 3,200 + OE 5,000 + Debt 3,500
Why are assets listed before fixed assets on a balance sheet?
Assets are listed in order of liquidity, or how quickly they can be converted into cash. Fixed Assets (Land, Buildings, Machinery, etc.) take longer to sell than stocks and bonds. Accounts Receivable will turn into cash in 30 days (for the most part) etc. Inventory will turn over several times in a year. The assets listed first are "Current Assets" - things that wil be used within the fiscal year. Fixed Assets have a longer life. This is similar to Current Liabilities (amounts due within 12 months) and Long-term Liabilities (amounts due beyond 12 months).
In the event of a firm's dissolution the first claim on its assets belongs to whom?
bondholders.
Who has the first claim to the profits or assets of a firm?
a - lenders
Who has the first claim to the profits and assets of a firm?
Creditors.
Does private financiers have first claim to profits or assets of a firm?
Lenders does.
The type of corporate ownership that has first claim on profits and assets is called a?
Preferred stock holders are those who have the first claims ob profits and assets.
Can surviving spouse sell boat only with deceased name?
yes, but you would have to go thought probate and any debts owed by the estate of the deceased have first claim on any assets, and/or proceeds from the sale of said assets.
What happens to the assets due to an executor if the executor of a will dies?
They become part of his estate. The executor of his estate would file the claim against the first estate.
What will come first dissolution or liquidation?
Dissolution is same for partnership as liquidation for company and both are separate and no one come before or after each other.
Could one of the partners in a firm claim to dissolve d firm and can she also claim that she wants her share of d Capital while putting d entire amt of bad debts and debtors on me?
First, I am not an attorney. I teach "Legal Aspects of Business" for a CA University. Generally, a "claim" to dissolve a partnership may or may not dissolve it; however, such a claim (depending on whom it has been uttered) may hold the partnership liable for subsequent liability - where - the claim was (in fact) not true (and relied upon) with respect to a third party. Where a "claim" to dissolve is made solely to the other partners; it may or may not, serve as "notice to dissolve the partnership"(depending on the facts and circumstances regarding the utterance). Generally (notwithstanding ones formal status in the partnership); all partners share all assets and liabilities of the partnership (each partner is personally liable to third parties injured by (actual or preceived) dissolution of the partnership or business); like a private business [unlike, a corporate liability]. Any business law text book will clearly distinguish the types of business entities, liabilities, and dissolution of businesses.
Who gets assets when a corporation goes bankrupt?
Depends on the situation and the type of BK....but generally its fair to say the creditors do...and the reason for the BK frequently being there aren't enough to pay what they owe...the additional amount owed is discharged. The assets may come over by sale, transfer or even giving the creditors stock in a company that owns the assets.
What is the difference between preferred and common stockholders?
Preferred stockholders have a greater claim on the assets and profits of a company compared to common stockholders. If a company is liquidated, preferred stockholders have to be paid first before the common stockholders.
Why would a husband keep his first wife on the deed of the house and refuse to add his second wife to it?
Simple logic would seem to dictate that the husband does not want the new spouse to be able to lay claim to the property in the event of his death or a dissolution of marriage. This may or may not hold up in court if challenged, depending upon whether or not the married couple currently reside in a community property state. It might also have something to do with the property settlement that was made in the dissolution of the first marriage.
