Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS) Message Board

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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)

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To: TopCat who wrote (7779)	10/23/1997 9:44:00 AM
From: Riley G	Read Replies (1) of 55532

Subject: TOPCAT's post # 7780...regarding the 14 million Riley, Obviously, TOPCAT and some NAYS, tries to pretend whenever they are on this thread that they know things about financials. ACCOUNTING 101 In a BALANCE SHEET of any company, there are only 2 sides(DEBIT AND CREDIT) and 3 categories, ASSET, LIABILITIES AND OWNERS EQUITY. The 14 million mentioned on the 8k is an ASSET. Accounts receivable is a general term used in accounting. There so many kinds of RECEIVABLE. They could be..... 1. INVESTMENT RECEIVABLE 2. INTEREST INCOME RECEIVABLE 3. RECEIVABLE FROM SALES 4. MISCELLANEOUS RECEIVABLE 5. AND SO ON, AND ON, AND ON, AND ON........ The 14 million falls under this catergory, on the left side of the balance sheet which is the ASSET SIDE. I dont need to explain any further for I dont want to OVERLOAD the NAYS BRAINS on this. I wish I can be like TOPCAT who is not even an ACCOUNTANT but knows more than what CPA's know. I wonder if Topcat is an accountant of a company, where would he put this on the BALANCE SHEET......under the carpet or maybe in the drawer (that, is not a part of a balance sheet). p.s. MATTY, DONT BE absent on your ACCOUNTING 101 class.

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