Debtors amounted to Rs 60,000, Trade Creditors to Rs 48,000 whilst expense creditors were Rs 4,000 and payments in advance were Rs 820. Depreciation was to be written off the Freehold Property at 21/2%, off Furniture at 10% and off Scooter at 25%. Pr...
If you and your partners plan to provide a professional service such as homebuilding or accounting, the LLC structure protects your personal assets if a client files a lawsuit against you. It also protects all partners from personal liability for bus...
When common stock no par value is issued the amount invested by the shareholders is credited to the common stock account and included on the balance sheet as part of the shareholders equity. Suppose in the above example the business had issued stock ...
Investors can use data presented under the stockholders’ equity section of the balance sheet to develop important financial ratios that explain the financial condition of the company. An important financial ratio used by investors is return on equity...
Make a comprehensive list of indirect business expenses including items like rent, taxes, utilities, office equipment, factory maintenance etc. Direct expenses related to the production of goods and services, such as labor and raw materials, are not ...