Accounting Factoids™ are helpful bits of accounting information to lead you in the right direction.
Today’s topic: Presentation of Certain Items on the Balance Sheet
Commitments and contingencies should be referenced on the balance sheet to the explanatory footnote.
Liquidation value of preferred stock is required to be presented on the face of the balance sheet.
Subscriptions receivable may be presented as assets only if cash was received prior to issuing the financials.
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