Assets are things that companies own
-Cash: it includes currency, coins, checking accounts, and undeposited checks recieved from customers.
-Petty Cash: a current account that shows the amount of cash for small disbursement for postage, supplies, etc.
-Temporary investments: An account that contains the amount of investments that can and will be sold in the future
-Supplies: The cost of the supplies, usually listed on the balancing sheet.
-Prepaid Insurance: shows the cost of the insurance contract and it shows the amount that is already paid.
Accounts receivable: Its shows the combined amount of debate while doubtful accounts show the credit balance.
3)Assets show the amount of cash, credit, debates, balance, and etc in accounts.
Liabilities are the things you have to pay before the due date (Interest, wages, taxes)
Equity shows the stock and incomes of corporations
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