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What is accounts receivable turnover ratio?
Definition: This is the number of times accounts receivable collected throughout the year.Formula:Accounts Receivable Turnover Ratio = annual credit sales / average accounts receivable An investment in accounts receivable is a necessity for most companies to do business. However, too much receivables or too little can be unhealthy. An abnormally low level can be the result of over ambitious collection efforts or a credit policy that is too tight. These conditions can result in lost sales. An excessive receivables level can be the result of a credit policy that is too loose or inadequate collection efforts. These situations can result in increased bad debt and higher costs.
What is account receivables?
account receivables reflects those amount which the company has sold and payment for that sold items has not yet recieved so that amount will be booked as account recievables
A trial balance indicate the right amounts were posted to the correct ledger?
A trial balance is a financial report that lists the balances of all general ledger accounts at a specific point in time. It serves as a tool to verify that total debits equal total credits, indicating that the entries in the ledger are mathematically correct. However, while a balanced trial balance suggests the right amounts were posted, it does not guarantee that all transactions were recorded accurately or in the correct accounts. Errors such as incorrect account classifications or omitted transactions can still result in a balanced trial balance.
Is accounts receivable a revenue?
Accounts Receivable is an asset since it is a resource controlled by the entity as a result of past transaction with the future economic benefit to flow to the entity.Sale of goods and services is a revenue and not accounts receivable.
What difficulties could arise if no cross-indexing existed between the general journal and the ledger accounts?
If no cross-indexing existed between the general journal and the ledger accounts, it would become challenging to trace transactions back to their source, leading to potential errors in record-keeping. This lack of linkage could result in discrepancies between the financial statements and the underlying transactions, complicating audits and financial analysis. Additionally, it would hinder the efficiency of data retrieval, making it difficult for accountants to verify balances and ensure accurate reporting. Overall, the absence of cross-indexing could undermine the integrity and reliability of the financial reporting process.
What is accounts receivable turnover ratio?
Definition: This is the number of times accounts receivable collected throughout the year.Formula:Accounts Receivable Turnover Ratio = annual credit sales / average accounts receivable An investment in accounts receivable is a necessity for most companies to do business. However, too much receivables or too little can be unhealthy. An abnormally low level can be the result of over ambitious collection efforts or a credit policy that is too tight. These conditions can result in lost sales. An excessive receivables level can be the result of a credit policy that is too loose or inadequate collection efforts. These situations can result in increased bad debt and higher costs.
What is account receivables?
account receivables reflects those amount which the company has sold and payment for that sold items has not yet recieved so that amount will be booked as account recievables
What will increase one asset and decrease another asset without affecting liabilities or owner's equity?
Many cash transactions result in changes between asset accounts, such as the receipt of an accounts receivable, the outright purchase of an asset or the payment of a pre-paid expense.
What is non transactions deposits?
Non-transaction deposits refer to funds held in accounts that do not permit direct transactions like checks or debit card withdrawals. These deposits typically include savings accounts, time deposits, and certificates of deposit (CDs). They often offer higher interest rates compared to transaction accounts to incentivize saving rather than spending. As a result, non-transaction deposits are primarily used for savings and investment purposes.
What are the advantages and disadvantages of the percent-of-receivables method?
The percent-of-receivables method for estimating bad debt expense offers the advantage of being straightforward and based on actual accounts receivable data, which can lead to more accurate estimates of uncollectible accounts. Additionally, it aligns well with the accrual accounting principle by matching expenses with revenues. However, a disadvantage is that it may overlook specific customer behavior or economic conditions, leading to potential inaccuracies in estimating bad debts. Furthermore, it can also result in fluctuations in expense recognition, which might affect financial statement comparability across periods.
Does Termination of Approving Official accounts result in the termination of all cardholder accounts assigned to them?
No, terminating an Approving Official account does not result in the termination of all cardholder accounts assigned to them. Cardholder accounts remain active unless individually terminated.
Can anyone gave there account to you in aqw?
They can, but trading accounts will result in those accounts being disabled/ suspended.
What accounts for the most falls that result in death?
mountain climbing
What is debtors in kannada?
Debtors in Kannada is referred to as "ಕಡಿವಾಣ" (Kadivāṇa) or "ಕಡಿವಾಣಗಳು" (Kadivāṇagaḷu). It denotes individuals or entities that owe money to another party, typically as a result of borrowing or credit transactions. In a financial context, debtors are important for understanding credit risk and managing accounts receivable.
Definition of share capital?
The amount of share capital a company reports on its balance sheet only accounts for the initial amount for which the original shareholders purchased the shares from the issuing company. Any price differences arising from price appreciation/depreciation as a result of transactions in the secondary market are not included.
A trial balance indicate the right amounts were posted to the correct ledger?
A trial balance is a financial report that lists the balances of all general ledger accounts at a specific point in time. It serves as a tool to verify that total debits equal total credits, indicating that the entries in the ledger are mathematically correct. However, while a balanced trial balance suggests the right amounts were posted, it does not guarantee that all transactions were recorded accurately or in the correct accounts. Errors such as incorrect account classifications or omitted transactions can still result in a balanced trial balance.
How many accounts can you have in Facebook?
Facebook rules state that you can have only one account. Making more can result in all the accounts being blocked by Facebook.
