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Who is the promisor in a contract?
the promisor in a contract may also called Obligor.The promisor is a law term that refers to the party who is on the receiving end of a promise. The party making the promise is the promisee.Actually it's the other way around- a promisee is on the receiving end, while the promisor is the one making the promise. In a bilateral contract (I promise to give you my car, you promise to give me $10,000), both parties are promisor and promisee because they are each making a promise and receiving a promise.
What is a short term notes payable?
It is a written promise to pay a specified amount on a definite future date within one year or the company's operating cycle, whichever is longer. Most notes payable bear interest to compensate for use of the money until payment is made. ( References: Financial Accounting: Information For Decisions 4th edition by John J. Wild)
How will a post-dated cheque issued to a creditor be treated in the Balance Sheet?
Accounting ProceduresGenerally accepted accounting principles (GAAP) and cash accounting methods treat post-dated checks the same way---no journal entry recording. A post-dated check is essentially a promise to pay, and until the business partner pays or reimburses amounts owed, no change is made in accounting books. To illustrate, an accounting clerk receives a $45,000 post-dated check negotiable in one week. She cannot debit cash (asset) and credit sales revenue or accounts receivable to record this transaction because no payment is made. She can, however, write a memo about the post-dated check in the accounting ledger. (Bookkeepers debit asset accounts to increase their balances and credit revenues to increase their amounts). If the check clears the customer's bank after one week, the clerk may then record journal entries in the sales ledger.Financial Statement RulesPost-dated checks do not affect financial statement accounts, but regulatory guidelines and industry practices require a company to reveal significant amounts that it expects from customers at future dates. These amounts may relate to post-dated checks or promissory notes. GAAP requires a corporation to prepare accurate and complete financial statements that indicate such arrangements. Complete financial records include balance sheet, statement of profit and loss (P&L), statement of cash flows and statement of retained earnings.
What are the 3 dates and their entries that are associated with dividends.?
In the United States, the three dates that are significant for both paying and accounting for any given cash dividend are: 1) Declaration date: Dividends are not payable unless and until the corporation's Board of Directors declares that a dividend will be paid. The date on which they promise to pay a dividend is called the declaration date, and that is the date on which the company incurs an obligation to pay the dividend. Generally on that date the Board will specify the two other important dates: the ex-dividend date, and the payment date. On the day a dividend is declared, the accounting entries are Debit the Retained Earnings account and credit the Dividends Payable liability account for the total amount of the dividend. 2) Ex-dividend date (or "date of record"): The ex-dividend date is the cutoff date used to identify the particular persons to whom an upcoming dividend will be paid. The shareholders listed on the corporation's records as the owners of shares at the ex-dividend date are the ones who will receive payment of the upcoming dividend, whether or not they still own the shares on the date the dividend is paid. There is no accounting entry related to the ex-dividend date. 3) Payment date: This is the date on which the cash dividend is actually paid out to the shareholders. When the dividend is paid, the accounting entries are: Debit the Dividends Payable account and credit the Cash account for the total amount of the dividend. This eliminates the liablility that was recorded when the dividend was first declared, and reflects the funds going out of the corporation's cash when the dividend is paid.And so, why are we reading this?
What is income received in advance?
Income received in advance means that amount form customer is received in advance with promise of goods delivery at some future time.
What is the present tense of promise?
Promise is the present tense.
What is the verb tense of promise?
Promise is present tense.
The Hebrew scriptures include the concept of?
promise
Where is a good place to present a promise ring?
You can present a promise ring on a romantic place. It could be one of the places you met or had a memorable moment.
Is promising an adjective?
It can be (a promising future). It is the present participle of the verb (to promise) and can be an adjective meaning 'auspicious' or encouraging. It can be a noun (gerund) meaning the act of making a promise.
What promise does Scrooge make to the Ghost of Christmas Present?
That if Tiny Tim is spared he will do all he can to help him
Should you be worried if your boyfriend gave you a promise ring and said it meant nothing?
i think so, if he thinks that its just a thoughtless present he clearly didn't think about the impact a promise ring would have, unless, its you you assumed it was a promise ring, did he just give it as a presant or call it a promise ring.
What is the concept of highest and best use of land?
It is associated with the choice of production that promise the highest value/return for the use of the land.
Is promise a concrete or abstract noun?
"Promise" is an abstract noun. It refers to a concept or idea that represents a commitment or assurance made by someone, rather than a tangible object that can be physically touched or seen. Abstract nouns often denote feelings, qualities, or states, and "promise" fits this definition as it embodies an intangible notion of trust or expectation.
Is any ring a promise ring?
Yes and no. Any ring can be used as a "promise ring", though not every ring is intended that way. And it's, frankly, kind of a silly concept in the first place; either you intend to get married or you don't, and a promise ring is sort of like saying "well, I don't really intend to marry you, but I intend to intend to marry you.".
Does a promise of future gift require a present thank you note or do you wait until you have actually received the gift?
The latter. You don't thank someone for something you haven't yet received. However, a verbal thank you at the time of the promise is appropriate.
When was Promise to Promise created?
Promise to Promise was created on 1996-07-24.
