Use the information provided from Haloid Company's accounting records to answer questions 6 and 7.
For the Years Ended December 31, 2010, and 2009
-Comment on the following statement: "On December 31, 2010, Haloid's accounts payable exceeds its cash by $5. If Haloid needs additional money to pay its accounts payable, it can use the $125 stashed in its retained earnings".

Question

Use the information provided from Haloid Company's accounting records to answer questions 6 and 7.
For the Years Ended December 31, 2010, and 2009 
-Comment on the following statement: "On December 31, 2010, Haloid's accounts payable exceeds its cash by $5. If Haloid needs additional money to pay its accounts payable, it can use the $125 stashed in its retained earnings".

Quizplus · Accepted Answer

The Answer of Use the information provided from Haloid Company's accounting records to answer questions 6 and 7.
For the Years Ended December 31, 2010, and 2009 
-Comment on the following statement: "On December 31, 2010, Haloid's accounts payable exceeds its cash by $5. If Haloid needs additional money to pay its accounts payable, it can use the $125 stashed in its retained earnings".

Use the Information Provided from Haloid Company's Accounting Records to Answer