The statement of financial position (balance sheet) of a furniture retail company includes in current liabilities the
Question:
The statement of financial position (balance sheet) of a furniture retail company includes in current liabilities the item: ‘Deposits received from customers’ Explain why this item is a current liability.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Customers here have been asked to make a down payment in advance ...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
In June of 2014, Bill Madden considered expanding his micro tiles business. He planned to invest $2.0 million in 2016 to produce more and better quality plaster or metal tiles and lithographs. These...
-
The statement of financial position for Paragon Corporation at November 30, 2009, the end of its current fiscal year, follows. The market price of the companys common stock was $4 per share on...
-
Calgary-based WestJet Airlines Ltd. provides services throughout Canada and to some international destinations. Excerpts from its 2013 financial statements are in Exhibits 2-19A to C. Required: a....
-
Sketch a graph to illustrate your idea of each of the following relationships. Be sure to label each axis appropriately. For each relationship, explain under what circumstances, if any, the curve...
-
List and briefly describe some possible reasons for the existence of IPO under-pricing?
-
How is goodwill calculated under the full goodwill method?
-
Know the reasons for using value management in projects.
-
The following situations are similar, but each represents a variation of a particular crime. Identify the crime and point out the differences in the variations. 1. Chen, posing fraudulently as...
-
What is the center-of-mass of the Nitric Acid molecule shown in Figure 7-7 with respect to the Hydrogen atom? Assume that mass H = 1, mass O-16, and mass N - 14. 1.22 x 10-10 m 65.0 H N 1.00 x 10-10...
-
The accountant of Blue Ltd discovered the following documents in a file marked not yet dealt with at the companys year end of 31 December Year Explain the accounting treatment required for each. (a)...
-
The statement of financial position (balance sheet) of an electricity company includes in current liabilities the item: Prepayments by electricity consumers Explain why this item is a current...
-
Tell whether each of the following situations involving three planes is possible. If a situation is possible, make a sketch. a. None of the three planes intersect. b. The three planes intersect in...
-
Why is diversity important in the composition of a governing board?
-
What are some budget types used in healthcare organizations?
-
Consider the following statement: NPV and IRR are expected values. Do you agree? Why or why not?
-
What are the three major categories of fraud?
-
What strategies do companies use to limit the cost of zero-based budgeting?
-
How can you apply the motivation theories in this chapter to explain the behavior of the entrepreneurs introduced in this case? For most people, going to work means working for someone else; a select...
-
What kind of rays are X-rays?
-
Chris Gibson Kitchenware Limited sells kitchen appliances to department stores. Product costs are ascertained using an absorption costing system from which the following statement has been prepared...
-
Chris Gibson Kitchenware Limited sells kitchen appliances to department stores. Product costs are ascertained using an absorption costing system from which the following statement has been prepared...
-
Chris Gibson Kitchenware Limited sells kitchen appliances to department stores. Product costs are ascertained using an absorption costing system from which the following statement has been prepared...
-
1. Summarize the business environment in Nigeria identifying and discussing both its challenges and potential. 2. Explain how and why MitiMeth was created and the potential impact of its broader...
-
Why is Leontief's input output analysis a paradox? How do you explain Leontief paradox? (20 points) Why have SEZs become a major tool in developing countries? Please illustrate and analyze one case....
-
When a person sweats, the water evaporating from the skin undergoes a transition from liquid to vapor. How does this help in regulating body temperature?
Study smarter with the SolutionInn App