What is additional paid in capital on the balance sheet?
Additional Paid In Capital (APIC) is the value of share capital above its stated par value and is an accounting item under Shareholders’ Equity on the bal...
Category: News
What is the difference between current and non-current assets?
Understanding Short and Long-Term Assets You may think of current assets as short-term assets, which are necessary for a company’s immediate needs; wherea...
What comes under net credit sales?
Net credit sales. In other words, credit sales are purchases made by are sales where the cash is collected at a later date. The formula for net credit sal...
When actual price is higher than standard price?
This difference between the standard cost vs actual cost is termed as Variance. If the Actual cost is higher than the standard, it creates an unfavorable ...
What kind of account is accumulated depreciation?
contra asset account The accumulated depreciation account is a contra asset account on a company’s balance sheet, meaning it has a credit balance. It appe...
What is the purpose of the Cost Analysis Requirements Description?
Cost Analysis Requirements Description (CARD) Guidance The CARD succinctly describes the key technical, programmatic, operational, and sustainment charact...
Do assets become expenses when they expire?
Asset prepayments become expenses when they expire. 32. A contra asset account is subtracted from a related account in the balance sheet. Is prepayment a ...
How can I check to see if a tax ID number is valid?
Call the IRS at (800) 829-4933. The IRS representative will request your identifying information. The representative will then give you the EIN number ove...
What is a write-off of uncollectible accounts?
A write-off is an elimination of an uncollectible accounts receivable recorded on the general ledger. An accounts receivable balance represents an amount ...
What is the meaning of Amalgament?
1a : the action or process of uniting or merging two or more things : the action or process of amalgamating an opportunity for the amalgamation of the two...
