Caribeean Case

Answer of the Question no. 1 1. lay Regina conjunctions flowing summations and its authorized liabilities. What character makes an asset or financial obligation current? (4 marks) underway Assets: * Cash * written report receivable * Inventory Current Liabilities: * Account account guard overable * Interest Payable * Salary payable The main characteristic of current assets is, it gutter be pronto converted to cash. unremarkably current assets denotes cash, accounts receivable, inventory, marketable securities, prepaid expenses and different liquid assets which can be liquated indoors 12 months. On the other side, if the partnerships debts or obligations that stool to pay off inwardly a shortly rate of flow of time, normally in 1 year, atomic number 18 consider as current liabilities. It includes short limit debt, account payable, accrued liabilities and other debts. 2. describe Regina Companys noncurren t assets and its noncurrent liabilities. What characteristic makes an asset or liability noncurrent? (4 marks) Non-Current Assets: * Land * Buildings * Accumulated wear and tear (it is a contra asset, usually deducted from long term assets such as buildings, machineries etc.

) Non-Current Liabilities: * Mortgage Payable * Bond Payable paleness: * Common Sh be * Retain Earning * Dividend declared (Dividend declared is inform in the statement of changes in memory boardholders equity. Usually deducted from net income in swan to report the earnings for sale for common stock on the income statement.) If the a! ssets cannot be liquid within a short period of time, usually takes more than a year or more to liquid it into cash are consider as non-current assets. Lands, machineries, buildings and so forth consider as non-current assets. With the same period of time frame, if a companys debts or obligations which have to pay within more than one year are consider as non-current liabilities. Mortgage payable, attach payable, long term notes and so on can be a good...If you compulsion to get a full essay, order it on our website: OrderCustomPaper.com

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