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3 years ago

What does credit opening balance mean

2 answers:

6 0

Definition: The opening balance is the balance that is brought forward from the end of one accounting period to the beginning of a new accounting period. The opening balance can be found on the credit or debit side of the ledger, depending on whether or not the firm has a positive or negative balance.

avanturin [10]3 years ago

3 0

Opening balance is the amount of funds in a company’s account at the beginning of a new financial period. It’s the first entry in the accounts and in this case a credit opening balance would be the first entry that is on the credit side of the ledger

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Christina buys groceries every month from Target and rarely does much research on the products she buys. What is the marketing t

Neporo4naja [7]

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2 years ago

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masha68 [24]

Answer:

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3 years ago

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belka [17]

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3 years ago

Snap Dragon Photo reported the following figures on its December 31, 2016, income statement and balance sheet:Net Sales $440,000

siniylev [52]

Answer:

Assets turnover ratio= 1.64 times

Explanation:

The asset turnover is the he amount of sales generated by one dollar invested in asset. it measures how efficient the business is in generating sales using assets

Assets turnover ratio = net sales / Average assets

<em>Asset at the beginning of year 2016</em>

=26,000 + 56,000 + 79,000 + 8,000 + 180,000 = 349 ,000

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$28,000 + 58,000 + 76,000 + 14,000 + 11,000= 187 ,000

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Total assets =

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3 years ago

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geniusboy [140]

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3 years ago

What does credit opening balance mean​

What does credit opening balance mean