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Instalments in arrears typically represent amounts owed by customers that have not been paid on time. While they are considered receivables, they are not classified as current assets until they are expected to be collected within the upcoming operating cycle or year. If it is uncertain when these payments will be received, they may be considered non-current assets. Therefore, the classification depends on the expected timing of collection.
What else can I help you with?
Is gold is fixed asset or current asset?
Current asset
Is cafe a current asset or fixed asset?
Current asset.
Is prepaid insurance a current asset or fixed asset?
Current Asset
Is a security deposit a current asset or current liability?
Current Asset
Is fixtures and fittings a current asset or a non current asset?
non current
Is gold is fixed asset or current asset?
Current asset
Is cafe a current asset or fixed asset?
Current asset.
Can a timeshare be discharged in ch 7?
A timeshare is an asset, not a debt. It cannot be discharged. If you are in arrears in your timeshare payments, like being in arrears on a mortgage, you would be able to surrender the timeshare and discharge the arrears.
Is prepaid insurance a current asset or fixed asset?
Current Asset
Is money lent by a bank a current asset or non current asset?
non current asset
Is a security deposit a current asset or current liability?
Current Asset
Is premises a current asset or non current asset?
non-current assets.
Is fixtures and fittings a current asset or a non current asset?
non current
Is freight a current asset or non current asset?
it is a expense
Is Closing Inventory is it a current asset?
is closing inventory a current or non current asset
Is expenses owing a current liability or a current asset?
expense owing is a current asset
Does bankruptcy include council tax?
Yes (obviously if they are in arrears). The amount submitted for inclusion depends on the stage of recovery by the council. If a reminder has been sent because instalments are in arrears and that right to pay by instalments is now withdrawn, the whole years council tax is included. This includes if a summons has been issued and of course if a court order granted. The sticking point is if the debt is in joint names as in husband & wife. The non-bankrupt can be pursued for the council tax.
