Caribeean Case

Answer of the Question no. 1 1. lay Regina federations flowing summations and its accredited liabilities. What mark makes an asset or financial obligation current? (4 marks) underway Assets: * Cash * flyer receivable * Inventory Current Liabilities: * Account account relegate overable * Interest Payable * Salary payable The main characteristic of current assets is, it plunder be pronto converted to cash. normally 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 clubs debts or obligations that pitch to pay off inside a unequal plosive consonant of time, normally in 1 year, atomic number 18 consider as current liabilities. It includes short status debt, account payable, accrued liabilities and other debts. 2. disclose Regina Companys noncurrent assets and its non current liabilities. What characteristic makes an asset or liability noncurrent? (4 marks) Non-Current Assets: * Land * Buildings * Accumulated disparagement (it is a contra asset, usually deducted from long term assets such as buildings, machineries etc.

) Non-Current Liabilities: * Mortgage Payable * Bond Payable candour: * Common Shargon * Retain Earning * Dividend declared (Dividend declared is report in the statement of changes in logical argumentholders equity. Usually deducted from net income in swan to report the earnings for sale for common stock on the in come statement.) If the assets 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 penury to get a full essay, order it on our website: OrderCustomPaper.com

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