Examlex
Testing the information on the aged trial balance for detail tie-in is a necessary audit procedure, which would normally include:
Working Capital
The difference between a company's current assets and current liabilities, indicating its short-term liquidity.
Paid-In Capital
The amount of money a company has received from shareholders in exchange for shares of stock.
Capital Surplus
Capital surplus refers to the amount that a company raises from the sale of its shares above their par value, often reflecting additional investment or gains retained in the business.
Legal Capital
The portion of a company's equity that cannot be distributed to shareholders and must be maintained as a financial protection for creditors.
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