This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is the difference between current assets and fixed assets? What will be an ideal ... (Read 128 times)

tth

  • Hero Member
  • *****
  • Posts: 579
on: Jul 26, 2018
What is the difference between current assets and fixed assets?
 
  What will be an ideal response?

Question 2

How is a balance sheet organized and what is it used for?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

at

  • Sr. Member
  • ****
  • Posts: 359
Reply #1 on: Jul 26, 2018
Answer to Question 1

Current assets are non-depreciable assets, such as cash, accounts receivable, and inventory. Fixed assets are depreciable assets that will be retained for longer than one year.

Answer to Question 2

A balance sheet is used to show the company assets, company liabilities, and owners' equity on a specific date. The owners' equity is determined by subtracting the company's liabilities from its assets.


tth

  • Member
  • Posts: 579
Reply 2 on: Jul 26, 2018
Thanks for the timely response, appreciate it

emsimon14

  • Member
  • Posts: 344
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Heliospheric-current-sheet Heliospheric-current-sheet
If the pump is not running, check the wiring and current flow before going through the process of ... If the pump is not running, check the wiring and current flow before going through the process of ...
Hookup for testing fuel-pump current draw on any vehicle equipped with a fuel-pump relay. Hookup for testing fuel-pump current draw on any vehicle equipped with a fuel-pump relay.
Drawing of Central PompeII In Its Current State Drawing of Central PompeII In Its Current State
Explain how it can be desirable from an intertemporal perspective for a country run a current ... Explain how it can be desirable from an intertemporal perspective for a country run a current ...
A company that makes cell phones has the following cost structure. They have fixed costs of ... A company that makes cell phones has the following cost structure. They have fixed costs of ...
Video: Neurotransmission at chemical synapses & Excitory and inhibitory potentials

For a complete list of videos, visit our video library