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The dollar change and percentage change in the accounts receivable account from 2009 to 2010 is calculated for Solar Corporation This is an example of?
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What is monthly turnover?
Monthly turnover refers to monthly change. It can be associated with employee turnover or inventory turnover. Managers may use the term to refer to other things as well.
Does your average collection period go up or down when accounts receivable stays the same and credit sales go up?
The aging schedule can be used to identify the customers that are extending beyond your collection terms. If the bulk of the overdue amount in receivables is attributable to one customer, then steps can be taken to see that this customer’s account is collected promptly. If overdue amounts stem from a number of customers, your business needs to tighten its credit policy toward new and existing customers.The A/R Aging Schedule also identifies any recent changes in the accounts making up your total accounts receivable balance. If the makeup of your accounts receivable changes (compared to the previous month) you should be able to spot the change instantly.
Is notes payable an asset or a liability?
Accounts Payable and Notes Payable are liabilities. Accounts receivable - assets All "payable" accounts are "liabilities". This is because a liability is something the company OWES, a payable is the very same thing, hence the term "payable". Though some payable accounts change from being a payable to an expense, they are still liabilities as long as they are "payable", these include: Interest Payable (liability until paid, then reverts to Interest Expense) Salary or Wages Payable(liability until paid, then reverts to salary or wage expense) Payable accounts maintain a "credit" balance, meaning they increase with a Credit and Decrease with a debit. Now the quick answer: Payable = Liability Receivable = Asset
What are the responsibilities of a Bookkeeper?
A bookkeeper's responsibilities vary according to the client's (or boss') needs. Those responsibilities should be outlined in advance and may change as needs change. Some clients (or bosses) require only data entry and bill paying. Others will require a full-charge bookkeeper to take responsibility for data entry, accounts receivable, accounts payable, government remittances, monthly financial statements, and financial advice. A good bookkeeper will adapt to the clients needs as they change.
The dollar change and percentage change in the accounts receivable account from 2009 to 2010 is calculated for Solar Corporation This is an example of?
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Why are accounts receivable a financial concern of the firm?
Liquidity refers to the ability of a firm to change its assets to cash. Being an asset, the ability for receivables to pay its debts to the firm will affect the asset's ability to become liquid. A business that collects its accounts receivable in an average of 20 days generally has more cash on hand than a business that requires 45 days.
Compute the accounts receivable balance before and after change in the cash discount policy?
sales are 400,000, cash discount terms are 1%10 N30, what is the credit sales
What is monthly turnover?
Monthly turnover refers to monthly change. It can be associated with employee turnover or inventory turnover. Managers may use the term to refer to other things as well.
A change of possession of the football can be called a?
A change of possession is called a Turnover.
Does your average collection period go up or down when accounts receivable stays the same and credit sales go up?
The aging schedule can be used to identify the customers that are extending beyond your collection terms. If the bulk of the overdue amount in receivables is attributable to one customer, then steps can be taken to see that this customer’s account is collected promptly. If overdue amounts stem from a number of customers, your business needs to tighten its credit policy toward new and existing customers.The A/R Aging Schedule also identifies any recent changes in the accounts making up your total accounts receivable balance. If the makeup of your accounts receivable changes (compared to the previous month) you should be able to spot the change instantly.
Is notes payable an asset or a liability?
Accounts Payable and Notes Payable are liabilities. Accounts receivable - assets All "payable" accounts are "liabilities". This is because a liability is something the company OWES, a payable is the very same thing, hence the term "payable". Though some payable accounts change from being a payable to an expense, they are still liabilities as long as they are "payable", these include: Interest Payable (liability until paid, then reverts to Interest Expense) Salary or Wages Payable(liability until paid, then reverts to salary or wage expense) Payable accounts maintain a "credit" balance, meaning they increase with a Credit and Decrease with a debit. Now the quick answer: Payable = Liability Receivable = Asset
What are the responsibilities of a Bookkeeper?
A bookkeeper's responsibilities vary according to the client's (or boss') needs. Those responsibilities should be outlined in advance and may change as needs change. Some clients (or bosses) require only data entry and bill paying. Others will require a full-charge bookkeeper to take responsibility for data entry, accounts receivable, accounts payable, government remittances, monthly financial statements, and financial advice. A good bookkeeper will adapt to the clients needs as they change.
Trying to close out an accounts receivable but the amount received is not exactly the same due to foreign exchange fees so a balance is left when I receive payment on QBs. What should I do?
Difference should be charged to retained earnings account for any amount due to change in foreign exchange.
Are current liabilities payable in 1 year?
Yes, which means I am going to have to go back and change some of my answers. Accounts Payable are accounts that will be paid in one year OR LESS! This has obviously been changed, as it used to be considered "current" if it was paid in 6 Months or LESS. Any Account Payable or Account Receivable (Account Receivable being an Asset) that will be fully paid in 1 year or "less" I do stress less, is considered a "current liability" or "current asset", anything over that one year mark, even if it's 13 months, is considered "long-term".
Can you change your username in Habbo?
Older, preexisting accounts, cannot change their usernames. However, newer accounts have the ability to change their name one time.
Is accounts receivable a real account in accounting and is goodwill a real account in accounting?
Accounting in account real a goodwill is and accounting in account real a receivable accounts is. Real accounts, i.e. Balance Sheet accounts are ongoing perpetual records and represent "real" items; cash, receivables, inventories, accounts payable, invested capital, etc., etc. Accounts receivable and goodwill therefore are both real accounts as they have value in and of themselves.😧😧 Nominal accounts represent items of income and expense. Nominal accounts have no balances at the beginning of an accounting period and change as various debits and credits are applied as a result of activity of income and expense throughout the accounting period. At the end of the accounting cycle the nominal accounts are returned to zero by debiting them by an amount equal to their credit balance if such exists, or crediting an account if it has a debit balance. The offsetting entry of each of these is to a Profit or Loss Account. If after all accounts are zero, the P&L account has a debit balance then operations were profitable (income exceeded expenses), and conversely with a credit balance a loss was incurred. The P&L is then "closed" by either debited or crediting to bring it to zero, whichever is appropriate, with the offsetting entry going to "Retained Earnings", a real account, and bringing the Balance Sheet into balance and leaving all nominal accounts at zero. To put it another way if all debits and credits of the General Ledger are added up, then they will both be equal. But if only the debits and credits of the nominal accounts are added up there will be a difference and that difference, depending on whether it's a credit or debit will be the profit or loss. Similarily if the debits and credits of the real accounts are added they will be different by the identical amount of adding the nominal accounts only opposite.
