In accounting what does the term normal balance mean?
Cash has a normal debit balance. What does this mean in accounting? Be specific and provide as many details about this as you can. Use examples, and show that you know the importance of this concept!
- What does the financial term ‘liquidity’ mean in the accounting sense of the term? What other financial term is typically used alongside of it? How is it defined? Caution: do not use an accounting textbook’s definition of these terms. - Discuss the two factors causing many if not most American corporations to be illiquid and possibly insolvent today?
What does the financial term ‘liquidity’ mean in the accounting sense of the term? What other financial term is typically used alongside of it? How is it defined? Caution: do not use an accounting textbook’s definition of these terms. Discuss the two factors causing many if not most American corporations to be illiquid and possibly insolvent today?
1. Cash has a normal debit balance. What does this mean in accounting? Be specific and provide as many details about this as you can. Use examples. 2. The following accounts and their balances are listed below: Prepare the first journal entry to close the temporary accounts: Fees Earned $5,000 Rent Expense $2,000 Supplies Expense $1,000 Toby, Capital $500,000 3. Prepare the journal entry to close the following two accounts: Utility Expense $100 Salary Expense $50 4. Match the following...
what does the word for mean in accounting? For example “ I received cash for common stock” How would i know what to journal. and when journaling does it matter if increase or decrease or do i just do normal balance?
What does valuation mean in accounting? What is a valuation method as it pertains to an account? To what accounts do valuation apply? Identify and explain the two measurement principles per the FASB conceptual framework. Explore and come up with the correct valuation method for each of the following balance sheet line items. Moreover, why are these accounts reported on the balance sheet at these values? 1. Inventory 2. PPE 3. Intangible assets 4. Notes Payable, short-term 5. Bonds Payable,...
Independent Research Accounting 1. What does it mean to say that accounting is a transformative process? 2. What makes an asset a current asset as opposed to a long-term asset? Why is this classification useful? 3. Some events that occur within a business do not have an impact on any of the elements of the balance sheet. Why? 4. What are the two main sources of equity reported on a balance sheet and how do they differ? 5. Explain how...
WHAT DOES 3BL STAND FOR AND WHAT DOES IT MEAN IN ACCOUNTING PARLANCE?
Discuss and analyze the term “civil liberties.” What does the term mean? What does it have to do with a democratic society? Use a Supreme Court case as an example to illustrate your point.
What does the term “pecuniary culture” mean and what is an example of it?