Financial Statements

The "retirement" or "disposal" (as it's usually listed as) is recorded in a couple of different ways depending on how the asset is disposed of. One entry that will not change regardless of how the company disposes of the asset is the account related to said asset.

For example, if the company is disposing of a truck, the one account entry that will not change will be Equipment-truck, this account will be credited for the balance. The fact that the fixed asset account has a debit balance, we now credit the account to bring it to a zero balance and remove the truck from our records.

Company's may choose to dispose of, sale, or trade the fixed asset. Disposing of the fixed asset does not involve the exchange of money or another asset. Selling of the asset involves receiving cash for the asset. Trading involves receiving another asset in exchange for the asset the company is disposing of.

This transaction will affect the balance sheet as it affects the assets of a company.

general fund

accounting principle ninth edition p7-1A

fix deposits are not collateralised. that's why they are called unsecured loans every asset and liability comes in B/s

The chart of accounts for the retail establishment includes Cash and Sales.

cheese

Depreciation for 1st year = 6000

Depreciation for 2nd year = 2000

Depreciation for 3rd year = 400

You can get a very nice men's suit at a department store for $150 to $200 (or less on sale).

There is only one difference that in proprietor balance sheet there is only owner's capital while in corporate balance sheet there is share holders capital as well.

statement of cash flows

Big Winery owns several large oak barrels which it uses to make wine. Which of the following should big use to allocate the cost of the oak barrels when determining the taxes payable for the company?

Apple post their financial details such as Stock info, Earnings, SEC Filings etc. on their website. (See links below)

ex godown price means that all expenses as like transport, insurance taxes and other expense are extra from the finished goods from factory or godown

Nonconsolidated subsidiaries are expected to be relatively rare. In those situations where a subsidiary is not consolidated, the investment in the subsidiary should be reported in the consolidated statement of financial position at cost, along with other long-term investments.

There is not enough information in order to answer this question. Please provide more in order to get an accurate answer.

The total used by the analyst in vertical analysis on the income statement is net sales revenue, while on the balance sheet it is total assets. This approach, also known as component percentages, produces common-size financial statements.

That would indicate that the company has made a loss.

=Opening stock+receipt - issue = closing stock

A fixed asset register is a record of all long-term tangible assets held for business use and not expected to be converted to cash in the current or upcoming fiscal year, such as manufacturing equipment, real estate, and furniture.

-Richard Crighton

Rothwell Gornt Companies

Dr Reserve

Cr Retained Earnings

Taxes! By closing their books at the end of the financial year, a company is able to calculated how much Net Profit or Net Loss it has had for that year and pay taxes. This begins a new year and the books are "clear" and a new financial year begins.

This however, is not the ONLY reason that a company will close their books, other reasons include the fact that they have to show whether or not they are operating at an gain or loss, usually such things as Dividends or Bonds become due in that period of time. Stockholders need an financial accounting of the company for a period, which is the year.

In many jurisdictions, regulatory laws regarding accounting and taxation require such reports once per twelve months, but do not require that the period reported on constitutes a calendar year.

The difference between the Actual Value & Earned Value is the Project Cost Variance

A pro forma invoice refers to an estimated or abridged invoice that is sent to a buyer from the seller in advance of delivery of goods or shipment. The pro forma invoice usually contains the quality and kind of goods, their value and other important information such as the transportation charges and the weight.

Cash float is the time between when you authorize a bank to disperse funds from your bank account and when it actually leaves your account.

If you're in a position where you must pay to create something before you sell it and your customer pays you 45 days later, then you have 45 days where you have spent money that you aren't getting back. This is called "cash float." If your business is steady, your float is equal to two or three months of income. For example, if your company makes $120,000 each year ($10,000 per month), the cash float is probably $20,000 to $30,000. When success comes your way and sales increase from $240,000 to $1.2 million per year, your float also increases from $40,000+ to $200,000+, and that money has to come from somewhere. Part of it can come from profit, but unless your profits are extremely high, they are probably insufficient to enable such growth. People will tell you that this is a "nice problem to have" - not if it causes you to go bankrupt.