Answer:
May list assets and liabilities from least liquid to most liquid.
Explanation:
According to International Financial Reporting Standards IFRS the companies may list their available assets and liabilities in descending order of most liquid to least liquid. It enables the users financial statements to easily assess the time assets will take to be converted into cash. Therefore cash is considered as most liquid and is first item to be presented on the Balance sheet of the company under current assets account.
Answer and Explanation:
Penelope Hassey has to assume that the total sale of the firm is $100 and given that the Profit Margin ratio is 19%.
The scenario shows that on every $100 of sale company get a net profit margin of $19
Note :
Profit margin = Net sales × Profit margin ration
Profit margin = $100 × 19%
Profit margin = $19
Answer:
cash flow budget
Explanation:
A cash budget estimates cash inflows and outflows (net cash flows) and is the basic tool for determining a company's borrowing needs, debt repayment, operating expenses, and short-term investments.
The difference between accounting and finance is that accounting relies on past events, while finance has to anticipate to future events. The basic and most important tool in finance is the cash flow budget. A company can have huge sales but if it doesn't enough cash to pay its expenses and debts, then it will not function properly.
When weighing your employment options, these are very important to consider:
- Employee Benefits
- Pay period
- Taxes taxable income.
Thus, all of these are very important to consider before accepting the job offer.
Answer:
$1,000
Explanation:
Fixed assets must be recorded at historic cost or purchase value. Their valuation is not affected by changes in market values, e.g. land might appreciate over time, but its historic cost will be used for accounting purposes.
In this case, Lisi doesn't have a bill to show the price of the rack, and since she paid in cash, she has no way of proving what she actually paid for it. In this case, in order to record the purchase of the rack you must use the fair market value of similar racks.
Imagine if someone could just say that they purchased things at X price but didn't get a bill, soon people would be recording buying pencils at $500 each because they are gorgeous and perfectly crafted.
