The Inertial Balance The inertial balance‚ a simple device for measuring the inertial mass of different objects independent of gravity‚ is shown below. The balance measures mass by using it’s inertia … that is‚ it’s resistance to acceleration. The more mass on the balance‚ the slower it will swing. Procedure: 1. Clamp the balance to a table as shown. Try to clamp it in an out of the way place and not on the side of the room where people are always walking
Premium Measurement
The Balance of Payments of a country always balances The BOP accounts summarize international transactions for a specific period‚ usually a year‚ and are prepared in a single currency‚ typically the domestic currency for the country concerned. Since the balance of payment is based upon system of double-entry book-keeping‚ the total debits must equal to total credits. This is because two aspects of each transaction recorded are equal in amount but appear on opposite sides
Premium Double-entry bookkeeping system Bookkeeping Balance of payments
prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter: a. As of December 31‚ 2011 (the end of the prior quarter)‚ the company’s general ledger showed the following account balances: DEBIT CREDIT $ $ Cash 48‚000 Accounts receivable 224‚000 Finished goods Inventory (1000 units) 60‚000 Raw Materials inventory (500 units) 10‚000 Buildings and equipment (net) 370‚000 Accounts payable 93‚000 Capital stock 510
Premium Bookkeeping
A balance sheet is a financial statement that reports the assets‚ which are resources owned by a business‚ liabilities‚ and stockholders’ equity at a specific date. Examples of assets would be computers‚ delivery trucks‚ furniture‚ and buildings. A balance sheet has two categories: Assets‚ liabilities‚ and stockholders’ equity. Liabilities are the debts and obligations of a business. Liabilities represent c claims of creditors on the assets of business. Examples of liabilities would be notes
Premium Generally Accepted Accounting Principles Income statement Balance sheet
Cristel Moriau Introduction to International Economic Law Academiejaar: 2009-2010 Balance- of- payment – exception in the WTO | | |Background | |The WTO is the principal regulator of the commercial pillar of the international economic
Premium International Monetary Fund General Agreement on Tariffs and Trade International trade
COURSE 2 - The Balance Sheet The balance sheet (also called statement of financial position) reports the financial position of the business at a point in time. It does so by listing the categories and amounts of assets‚ liabilities and equity on a specific date‚ in a format that proves the fundamental accounting equation. ASSETS = EQUITY + LIABILITIES or ASSETS – LIABILITIES = EQUITY Formats of presentation Regardless of
Premium Balance sheet Generally Accepted Accounting Principles Asset
Balance of payment Most of exports and imports involve finance i.e. receipts and payments in money. An account of all receipts and payments is termed as Balance of Payments (BOP). According to Kindle berger‚ "The balance of payments of a country is a systematic record of all economic transactions between the residents of the reporting country and residents of foreign countries during a given yeriod of time". The balance of payment record is maintained in a standard double-entry book-keeping
Premium Balance of payments International economics Bretton Woods system
ACCOUNT BALANCES For many purposes‚ it is necessary to determine the balance in an account. This is accomplished by adding the debits‚ credits‚ and determining the difference between the two sums. An account is said to have a debit balance if the sum of the debit entries to that account exceeds the sum of the credit entries. Conversely‚ an account has a credit balance if the sum of the credit entries exceeds the sum of the debit entries. Asset accounts normally have debit balances inasmuch as
Premium Bookkeeping Accounts receivable Balance sheet
BALANCE OF PAYMENT (BOP) Introduction: Balance of payments (BOP) is a record of economic transitions between the residents of one country and the rest of the world during one year. The balance of payment like all balance sheets must balance. The items‚ which lead to‚ an inflow of foreign earnings are placed on the credit side of the balance sheet‚ whereas the items‚ which give‚ rise to an outflow of foreign currency are placed on the debit side. Definition: “Balance of payment is a systematic
Premium International trade International economics Balance of payments
Balance of Payment Balance of Payment is the recording system of economic and financial flows that take place over a specified time period between residents and non-residents of a given country. The residents of a country compromise of the general government‚ individual‚ private and non- profitable bodies serving individuals and enterprises. The Balance of Payment will consist mainly with three sections. 1. Current Account- This shows all the inflows and outflows of a country. 2. Capital Account-
Premium International economics Balance of payments Investment