Here’s the formula: Current Assets = Cash + Cash Equivalents + Marketable Securities + Accounts Receivable + Inventory + Supplies + Prepaid Expenses + Other Liquid Assets Another way current assets can be used on your balance sheet is for calculating liquidity ratios. By showing you the balance...
9 RegisterLog in Sign up with one click: Facebook Twitter Google Share on Facebook Current dollar (redirected fromCurrent Dollars) Current dollar Refers to the use of actual or real prices andcosts. Escalation orinflationeffects are included. ...
Current Income Tax Expense That portion of the total income tax provision that is based on taxable income. Preferred Stock Stock that has a claim on assets and dividends of a corporation that are prior to that of common stock. Preferred stock typically does not carry the right to vote. ...
Current Income Tax Expense That portion of the total income tax provision that is based on taxable income. Other-than-Temporary Decline in Market Value The standard used to describe a decline in market value that is not expected to recover. The use of theother-than-temporary description as ...
Suppose a company receives tax preparation services from its external auditor, with whom it must pay $1 million within the next 60 days. The company's accountants record a $1 million debit entry to the audit expense account and a $1 million credit entry to the other current liabilities ...
Nigeria is usually the biggest producer in Africa, it produces anywhere from between 1.3mn to 1.5mn barrels of oil a day. It’s a member of the Opec+ cartel. And it’s one of the top 15 producers of oil globally. The Nigerian government doesn’t collect that much tax. That means the...
Among other notable developments in individual taxation in the 12 months ending October 2022, the Tax Court decided several cases having to do with taxpayers' eligibility for the child tax credit, earned income tax credit, and other child-related tax benefits. Final regulations amended the calculati...
1、current ratio or working capital ratiothe formula:current ratio = total current assets total current liabilitiesinterpretation:the current ratio measures a businesss ability to pay its debts in the normal course of business operations. if they cant, creditors may force the business to close (go...
Current Assets = C + CE + I + AR + MS + PE + OLAwhere:C = CashCE = Cash EquivalentsI = InventoryAR = Accounts ReceivableMS = Marketable SecuritiesPE = Prepaid ExpensesOLA = Other Liquid AssetsCurrent Assets = C + CE + I + AR + MS + PE + OLAwhere:C = CashCE = Cash Eq...
Suppose a company receives tax preparation services from its external auditor, to whom it must pay $1 million within the next 60 days. The company’s accountants record a $1 million debit entry to the audit expense account and a $1 million credit entry to the other current liabilities accoun...