How do you construct a General Journal.

1 answer:

6 0

At a minimum, an accounting journal entry should include the following:
The accounts into which the debits and credits are to be recorded.
The date of the entry.
The accounting period in which the journal entry should be recorded.
The name of the person recording the entry.
Any managerial authorization(s)

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A FLSA covered enterprise is the related activities performed through unified operation or common control by any period or perso

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Answer:

Is an activity or a public agency

Explanation:

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1. The enterprise has minimum of two employees

2. The annual volume of sales is a minimum of $500,000

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What will happen to the current ratio if current assets increase, while everything else remains unchanged?

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The current ratio will increase if current assets increase, while everything else remains unchanged.

This is further explained below.

<h3>What is the current ratio?</h3>

Generally, A liquidity ratio that evaluates a company's capacity to pay short-term debts or those that are due within the next year is called the current ratio.

It explains to investors and analysts how a business may get the most out of the current assets that are shown on its balance sheet in order to pay off its current debt and any other payables.

A current asset is defined as any asset that a company can reasonably expect to sell, consume, or deplete through the normal operations of the business inside the current financial year or an operating cycle, or an economic year.

In other words, a current asset is an asset that will be sold, consumed, or exhausted.

In conclusion, If current assets continue to grow while everything else stays the same, the current ratio will continue to show an upward trend.

How do you construct a General Journal.​

How do you construct a General Journal.