0
What else can I help you with?
Can i treat carriage inwards due as part of account payables in the balance sheet?
Yes, carriage inwards can be treated as part of accounts payables on the balance sheet if it represents an obligation to pay for transportation costs incurred to bring inventory or goods into the business. However, it is usually recorded as part of inventory costs on the income statement, which ultimately affects the cost of goods sold. It’s important to ensure that your accounting policies align with applicable financial reporting standards. Always consult with an accountant for specific guidance tailored to your situation.
How are notes receivable due in 5 years listed on the balance sheet?
nOtes receivable due in five years is listed on the balance sheet under what csption
Why there is an increase in receivable in a balance sheet?
Due to increased credit sales there is a chance of increase of accounts receivable in balance sheet.
What are the off balance sheet financing?
Off balance sheet financing means those agreement due to which asset is used by business but no affect on balance sheet like operating lease.
Where is returns inwards posted in the trial balance?
In the trial balance, returns inwards are typically posted as a deduction from sales revenue. This reflects the reduction in total sales due to goods returned by customers. It is usually recorded in the debit column under the sales account or as a separate line item for returns inwards, depending on the accounting system used.
Where does wages due go in a balance sheet in business studies?
Wages due (also known as "Creditors for Wages"), is listed in the Balance Sheet under "Trade and other payables" which falls under Current Liabilities. Current Liabilities again is a sub section of the Liabilities section of the Balance Sheet.
Is rent due a current liability on a company's balance sheet?
Yes
Where does Prepaid Interest comes in a balance sheet?
prepaid interest is that amount of interest which is not due but paid in advance as it is not due yet it is current asset of business and it will be shown in current assets section of balance sheet.
Why does balance sheet balance?
balance sheet get balance due to the accounting principle Dual aspect. In it each and every transaction has debit and credit having equal amount. Debit the gains is equal to the Credit the losses. one of the gain is acquired then, there must be any losses. due to this principle it's getting balance.
Where do you record a note receivable due in 18 months on a balance sheet?
Investments
What is the treatment of Interest on Debentures Accrued but not due in the Co's Balance Sheet?
In the Co's Balance Sheet: Interest on Debenture Accrued but not due is to be taken under the head Current Liabilities. Where as Interest on Debenture Accrued and Due is taken under the head Secured Loan.
Is rent a current liability on a personal balance sheet?
No, rent is an expense on the trading profit and loss and appropriation account. Rent due is a current liability on a personal balance sheet. Hope this helps. No, rent is an expense on the trading profit and loss and appropriation account. Rent due is a current liability on a personal balance sheet. Hope this helps.
