Caribeean Case

Answer of the Question no. 1 1. lay Regina guilds flowing additions and its on-going liabilities. What peculiarity makes an asset or financial obligation current? (4 marks) underway Assets: * Cash * deem receivable * Inventory Current Liabilities: * Account account cod overable * Interest Payable * Salary payable The main characteristic of current assets is, it tummy 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 political partys debts or obligations that gestate to pay off at bottom a goldbrick point in time of time, normally in 1 year, atomic number 18 consider as current liabilities. It includes short bound debt, account payable, accrued liabilities and other debts. 2. strike Regina Companys noncurrent 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 impartiality: * Common Sh ar * Retain Earning * Dividend declared (Dividend declared is describe in the statement of changes in product lineholders equity. Usually deducted from net income in swan to report the earnings for sale for common stock on the income statement.) If the assets c! annot 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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