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What else can I help you with?
How does the customer invoicing relate to the accounts receivable?
Customer invoices relate to the business as Recievables or income
What is an account receivable?
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 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 type of accounts are accounts receivable and accounts payable?
real accounts
When estimating the bad debt expense why do you have to create the contra asset account allowance for bad debts why cant you just credit the accounts recivable account?
Since bad debt expense is just an estimate, it is possible that the entire A/R will be collected. Therfore, you still need a record of the gross amount. The expense simply creates and allowance/reserve against it. Also, it gives users of financial statements more information when they can see the gross recievables and how much is not expected to be collected. It can be compared over time, with other companies, etc.
What things come in asset?
assets- buiding,machinery,goodwill,plant,land,debtors,bills recievables,accounts recievables,investments,cash,prepaid expenses.
How does the customer invoicing relate to the accounts receivable?
Customer invoices relate to the business as Recievables or income
How do you calculate operating working capital?
net operating capital net operating capital
Is trade debt a part of quick assets?
Yes it is part of quick assets it basically means recievables
What is an account receivable?
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
Can a business charge a finance charge but bill directly with invoices?
Yes. If you signed a credit application that says it will charge you if you pay out side of your payment terms agreement. On the bottom of our invoices is states "PAST DUE ACCOUNTS SUBJECT TO CHARGE OF 1.5% OR MAXIMUM PERMITTED BY LAW". We bill them out with our regular invoices. Having an account with a vendor is no different then a credit card. Both will charge you if you are late. If you pay on time there should not be an FC on your account. If you are not sure what your payment terms are contact the Accounts Recievables Department of the business. They can help you.
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 are things to be as fix assets and current asset and give example of each?
fixed asset - property, land, machinery, vehicles, etc Current asset- stock, recievables, petty cash.
What type of accounts are accounts receivable and accounts payable?
real accounts
What is the impact on interest with non interest bearing note recievables Ex if a company has a NR due in 5 years 310 discounted value of 285 leaving 25 in sales whats the impact on the discount?
to include: The product development cost was 255
When estimating the bad debt expense why do you have to create the contra asset account allowance for bad debts why cant you just credit the accounts recivable account?
Since bad debt expense is just an estimate, it is possible that the entire A/R will be collected. Therfore, you still need a record of the gross amount. The expense simply creates and allowance/reserve against it. Also, it gives users of financial statements more information when they can see the gross recievables and how much is not expected to be collected. It can be compared over time, with other companies, etc.
What are the accounts title in accounting?
There are different types of accounts in accounting. Some of these accounts are asset account, liability accounts, equity accounts, and operating expense accounts. There are many titles that coincide with these accounts.
