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Supporting schedules are additional details about balance sheet entries that are made as supplements. They help break down general categories of assets and liabilities into more detail. Typically, they are provided in the form of tables. Supporting schedules can offer greater disclosure to balance sheets.
Answer. The supporting schedule used in the financial model summarizes the companys profit and loss. The choice is D. Financial models are employed when attempting to value a company or when contrasting one company with others in the same sector.
Supporting schedules are additional details about balance sheet entries that are made as supplements. They help break down general categories of assets and liabilities into more detail. Typically, they are provided in the form of tables. Supporting schedules can offer greater disclosure to balance sheets.
An account receivable is recorded as a debit in the assets section of a balance sheet. It is typically a short-term assetshort-term because normally its going to be realized within a year.
The schedule provides proof or documentation of where the numbers come from. For example, the balance sheet schedule will not only list the assets, liabilities and equities of a company, but it will break down each of those categories into further sub-categories and provide a detailed listing within each one.

People also ask

An Audit Schedule is used to record which areas of the organisation should be audited and when, a pro-forma like that shown in Annex C. 1 could be used for this purpose. The areas to be audited should be recorded in the first column, and the audit frequency should be entered in the second column.
An accounting schedule is a supporting document that provides additional details or proof for the information stated in a primary document. In business, accounting schedules are needed to provide proof for the ending balances stated in the general ledger, as well as to provide additional detail for contracts.
How to Prepare a Basic Balance Sheet Determine the Reporting Date and Period. Identify Your Assets. Identify Your Liabilities. Calculate Shareholders Equity. Add Total Liabilities to Total Shareholders Equity and Compare to Assets.
The balance sheet consists of total 12 schedules.
They are recorded in the balance sheet at the net realizable value, which a company is expecting to be received in the future. The net value of accounts receivable is ascertained after deducting the bad debts.

balance sheet schedules