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Taxes receivable refers to amounts owed to a government entity, typically a local, state, or federal government, by taxpayers who have not yet paid their taxes. This includes various forms of taxes, such as income, property, and sales taxes, that are due but have not been collected. Taxes receivable are recorded as an asset on the government's balance sheet, reflecting the expectation of future cash inflows from taxpayers. Proper management of taxes receivable is essential for maintaining the financial health of government operations.
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What are the three major business activities in accounting?
accounts payable, accounts receivable and taxes.
What is the difference between Receivable and account Receivable?
Account receivable are usually currant assets that arise from selling merchandise or providing services to customer on credit . Accounts receivable are also known as trade receivable . receivable is the term that refers to both trade receivable and non trade receivable . By Mr safiullah Zarif
Is income tax receivable a trade receivable?
nontrade
What are average accounts receivable?
what is average account receivable
What is the nature of account receivable?
Account receivable is an asset
What are the three major business activities in accounting?
accounts payable, accounts receivable and taxes.
What is the difference between Receivable and account Receivable?
Account receivable are usually currant assets that arise from selling merchandise or providing services to customer on credit . Accounts receivable are also known as trade receivable . receivable is the term that refers to both trade receivable and non trade receivable . By Mr safiullah Zarif
How calculate accounts receivable turnover ratio?
the formula of calculating account receivable turnover = Net Sales/ average gross receivable
What is the nature of account receivable?
Account receivable is an asset
Is income tax receivable a trade receivable?
nontrade
What is the amount collectible from a customer?
Accounts Receivable
What are average accounts receivable?
what is average account receivable
Prepare general journal entries for the following transactions of this company for the current year?
DateItemDebitCredit25-AprNotes Receivable$4,500Sales$4,50024-JunInterest Receivable$75Interest Revenue$7524-JunAccounts Receivable$4,575Notes Receivable $4,500Interest Receivable$75
What title would you say i would be if i am the only one working in the office doing the payroll taxes accounts payable accounts receivable general ledger and w2s?
Financial Controller
How do you calculate accounts receivable turnover rate?
Net Sales / Average Accounts Receivable = Account Receivable Turnover
Why is accounts receivable an assit?
Because accounts receivable is that amount which is receivable from customer due to sales of goods on credit.
Is commission receivable a credit or debit?
commission receivable is credited
