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Bond measures must be approved by a statewide ballot. The Act created a reserve fund called the Budget Stabilization Account in case of future financial trouble. It also prevented the creation of any future bonds to pay off deficits like that in Proposition 57 (the California Economic Recovery Bond Act). Proposition 58 took effect only because ...
[5] [6] In the United States, warrants are issued by government entities such as the military and state and county governments. They are issued for payroll to individual employees, accounts payable to vendors, to local governments, to taxpayers receiving tax refunds, to recipients of unemployment benefits, and to owners of unclaimed money.
They usually include issued long-term bonds, notes payable, long-term leases, pension obligations, and long-term product warranties. Liabilities of uncertain value or timing are called provisions. When a company deposits cash with a bank , the bank records a liability on its balance sheet, representing the obligation to repay the depositor ...
Check Out: 7 Reasons You Should Consider a Financial Advisor — Even If You’re Not Wealthy. ... AP days represent the number of days a company has to pay off its accounts payable balance. For ...
A liability is a present obligation of an entity to transfer an economic benefit (CF E37). Common examples of liability accounts include accounts payable, deferred revenue, bank loans, bonds payable and lease obligations. Equity accounts are used to recognize ownership equity. The terms equity [for profit enterprise] or net assets [not-for ...
The coupon (of a bond) is the annual interest that the issuer must pay, expressed as a percentage of the principal. The maturity is the end of the bond, the date that the issuer must return the principal. The issue is another term for the bond itself. The indenture, in some cases, is the contract that states all of the terms of the bond.
In 2017 a miscalculation of the costs for the state's Medi-Cal program of $1.9 billion in 2016 led Governor Jerry Brown to project the state of California will face a $1.6 billion budget deficit. [14] As of January 2017, California and Kansas were the only two western states with an AA− bond credit rating. [15]
The State of California Franchise Tax Board (FTB) explained on its website that if you are eligible, you will automatically receive a payment — which is expected to be issued between October ...