Important Features of A Balance Sheet

Question 1

How are assets organized

Answer 1

how quickly assets can be converted into cash; assets are listed by most liquid first

Question 2

What is accounts receivable and how is it organized?

Answer 2

how quickly assets can be converted into cash; assets are listed by most liquid first
ey are listed alphabetically (by company name or a person’s last name)
eg. Alex Smith will be listed after Bobcat Co.

Question 3

What is accounts receivable and how is it organized?

Answer 3

how quickly assets can be converted into cash; assets are listed by most liquid first
ey are listed alphabetically (by company name or a person’s last name)
eg. Alex Smith will be listed after Bobcat Co.

Question 4

What is accounts payable?

Answer 4

ey are listed alphabetically (by company name or a person’s last name)
eg. Alex Smith will be listed after Bobcat Co.

Question 5

What should the 2 last numbers be?

Answer 5

the same!