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Prepare general journal entries for the following transactions of this company for the current year?
Wiki User
∙ 12y ago
DateItemDebitCredit25-AprNotes Receivable$4,500Sales$4,50024-JunInterest Receivable$75Interest Revenue$7524-JunAccounts Receivable$4,575Notes Receivable $4,500Interest Receivable$75
Wiki User
∙ 12y ago
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Evaluation of a company's ability to pay current liabilities?
Use the following ratios to evaluate a company's ability to pay current liabilities: Working Capital Ratio Current Ratio Acid-test Ratio
Why do Accountants use a general ledger?
A general ledger is a detailed report of transactions that make up the current statement. This is helpful during an internal or external audit whether by the irs or the company itself.
What are the ACID rules for executed transactions?
Transaction must be Atomic (it is one unit of work and does not dependent on previous and following transactions)Consistent (data is either committed or roll back, no "in-between" case where something has been updated and something hasn't)Isolated (no transaction sees the intermediate results of the current transaction)Durable (the values persist if the data had been committed even if the system crashes right after).
What's the relationship between current liabilities and current assets?
Solvency. A company is considered solvent if it's current assets exceed it's current liabilities. A company is considered to be insolvent if their current liabilities exceed their current assets.
What are the four amounts used in measuring transactions and events?
currency rate,money circulation,current assets,fixed assets
Evaluation of a company's ability to pay current liabilities?
Use the following ratios to evaluate a company's ability to pay current liabilities: Working Capital Ratio Current Ratio Acid-test Ratio
current ratio?
this ratio analyzes whether a company can pay off its short-term obligations using its current assets. generally, the ideal current ratio for a company is considered to be 2.00. current ratio is calculated using the following formula:Current ratio = Current assets / Current liabilities
Why do Accountants use a general ledger?
A general ledger is a detailed report of transactions that make up the current statement. This is helpful during an internal or external audit whether by the irs or the company itself.
What is the advantage of current account over savings account?
we can have transactions at any time
What is current account?
A Current Account is a Bank Account opened in the name of a business establishment. Banks giving overdraft facilities, by checking the old transactions, if it is necessary for the establishment.Another meaning:A current account is a record of transactions between two parties, for example, between a bank and its customer or utility company and its customer.A current account is a type of bank account into which your wages are paid and you pay your debt/bill from. As compared to a deposit or savings account where you would put surplus money to earn interest on it. One would not normally pay money out of a deposit account on a regular basis.
How do you find an old insurance company named empire insurance company in California?
After much sleuthing on the internet, I found that they have been merged (a few transactions ago) into what is now known as EMC Property and Casualty Company; I found that on page 2 of the following: http://www.iid.state.ia.us/about_us/FinancialReg/ExamRpts/2003/1249-03F.pdf The current website for the company is www.emcins.com If you are (as I was) inquiring about stock that was held through Empire Insurance Company, it has been escheated in California (where lost money goes). Go to www.sco.ca.gov (the state controller's website) and click on the link for search for unclaimed money. Hope that helps!
How can a company improve their current ratio?
how can a company mprove current rato? Type your answer here...
What is is a huge database that stores and manages the data required to analyze historical and current transactions?
a data warehouse
What is a huge database that stores and manages the data required to analyze historical and current transactions?
a data warehouse
What do you understand by the term partnership in the context of business?
A situation where 2 or mote entities combune their company assets, liabilities, earnings, gains, losses, reputation, both current & potential in order to conduct business deals & transactions in a joint fashion.
Define balance of payment surplus?
statement that summarizes an economy's transactions with the rest of the world for a specified time period. The balance of payments, also known as balance of international payments, encompasses all transactions between a country's residents and its nonresidents involving goods, services and income; financial claims on and liabilities to the rest of the world; and transfers such as gifts. The balance of payments classifies these transactions in two accounts - the current account and the capital account. The current account includes transactions in goods, services, investment income and current transfers, while the capital account mainly includes transactions in financial instruments. An economy's balance of payments transactions and international investment position (IIP) together constitute its set of international accounts. (source- investopedia)
My program suddenly stopped saving transactions. I cannot print current claims. How can I fix this?
It is probably an error in your encoding. Check to make sure that everything is set up to print current transactions. If that doesn't help your software should have come with a support number, try calling them for help.
