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What items might be in the financial statements but not actually on the balance sheet income statement statement of retained earnings or statement of cash flows?
Since the notes to the financial statements form part of the financial statements and are a component of financial statements, certain disclosures found in the notes may not be found in the balance sheet, income statement, statement of retained earnings or statement of cash flows.
Why Revenue and cost figure shown on income statement may not representative of actual cash flows and outflows?
Financial Statements are prepared according to accrual rule of accounting keep in mind according to which cost and revenue are recorded as the occur and not when they are actually received or paid that's why cash flows in the year may be different from revenue and costs in income statements because different companies use different policies to pay the costs and collect revenues in current and subsequent years.
What is additional income?
Additional income is income you make apart from you main occupation. This can range from scrapping metal to babysitting. Depending on what you do for this additional income, you may or may not have to pay taxes on it.
Can you receive tax refund if you have no income?
no you may not If you have no earned income, you would not qualify for the earned income credit.
Why a decrease in current asset is added to the cash flow statement?
There are a few reasons that vary based on the current asset you're referring to. If its a prepaid expense that's been decreased you've generally increased an expense. Like if you have prepaid insurance it may be amortized to expense over the year. So this expense flows into cash flows through the net income amount. But you haven't paid cash for this expense it was merely reducing prepaid expense from the prior year. So it gets added to cash flows. If its account receivable that's being reduced it means in general you've received cash from your customer. But that amount is not included in net income as it was probably income and a receivable the year before. So you have to add it to cash.
What two distinct flows may be classified with income?
haaay nako
Does an LLC classified as a partnership receive a 1099 form?
Yes, an LLC classified as a partnership may receive a 1099 form if it receives income that meets the reporting requirements set by the IRS.
What items might be in the financial statements but not actually on the balance sheet income statement statement of retained earnings or statement of cash flows?
Since the notes to the financial statements form part of the financial statements and are a component of financial statements, certain disclosures found in the notes may not be found in the balance sheet, income statement, statement of retained earnings or statement of cash flows.
Why Revenue and cost figure shown on income statement may not representative of actual cash flows and outflows?
Financial Statements are prepared according to accrual rule of accounting keep in mind according to which cost and revenue are recorded as the occur and not when they are actually received or paid that's why cash flows in the year may be different from revenue and costs in income statements because different companies use different policies to pay the costs and collect revenues in current and subsequent years.
Which would be classified as durable?
Being durable or durability is a property a material or a substance may or may not have and can be classified as durable.
Which properties would be classified as durable?
Being durable or durability is a property a material or a substance may or may not have and can be classified as durable.
Which property would be classified as expendables?
Being durable or durability is a property a material or a substance may or may not have and can be classified as durable.
What does motorhome classified mean?
A mobile home that is listed for sale. It may have in the classified ad how old it is, what condition it is in, how large it is and the price. The classified ad may also include a picture and detailed description. The classified as may state sold as is and described anything that may be wrong with it. The ad may also state must sell as soon as possible.
What is additional income?
Additional income is income you make apart from you main occupation. This can range from scrapping metal to babysitting. Depending on what you do for this additional income, you may or may not have to pay taxes on it.
Which of the following represent special types of materials that may contain classified informationPhotographsCDs containing classified informationWorking papersAll of these?
All of these represent special types of materials that may contain classified information.
What Medulla may be classified as being?
fragmented
Is a 20liter pail classified as dangerous goods?
It depends on what the pail contains. If it holds a substance that is considered hazardous or flammable, it may be classified as dangerous goods. Otherwise, a standard 20-liter pail may not be classified as such.
