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A firm has a days sales outstanding of 40 days and its annual sales are 7300000 what is the accounts receivable balance?
For calculating accounts receivable balance we need accounts receivable turnover rate So Accounts receivable turnover rate = number of days in year/annual sales outstanding accounts receivable turnover rate = 360/40 = 9 Accounts receivable balance = 7300000/9 Accounts receivable balance = 811111
When confirming accounts payable emphasis should be put on what kind of accounts?
Vendors that the company has made a large number of purchases from (in terms of dollar value). The account balance does not matter.
How do you number accounts?
Accounts are usually numbered in the same sequence they appear in the Trial Balance. In addition, each classification of account often starts with a different number. So Asset accounts might start with 100, Liabilities with 200, Equity with 300, Income accounts with 400, Cost of Goods Sold with 500 and Expenses with 600.
How are accounts arranged in the General ledger?
Accounts in the General Ledger are typically arranged using a chart of accounts, which categorizes them into assets, liabilities, equity, revenues, and expenses. Each account is assigned a unique number for easy identification and organization. The accounts are usually organized in a systematic order, often starting with balance sheet accounts (assets, liabilities, and equity) followed by income statement accounts (revenues and expenses). This arrangement facilitates efficient tracking and reporting of financial transactions.
How is the avaerage daily balance calculated?
The average daily balance is calculated by adding up the balance of an account at the end of each day over a specific period, typically a month, and then dividing that total by the number of days in that period. For example, if an account had different balances over 30 days, you sum each day's balance and divide by 30. This method provides a more accurate reflection of account activity over time, accounting for fluctuations in balance. It is commonly used by banks to determine interest on savings accounts or fees for checking accounts.
What disability accounts for the greatest number of claims under ADA?
mental
A firm has a days sales outstanding of 40 days and its annual sales are 7300000 what is the accounts receivable balance?
For calculating accounts receivable balance we need accounts receivable turnover rate So Accounts receivable turnover rate = number of days in year/annual sales outstanding accounts receivable turnover rate = 360/40 = 9 Accounts receivable balance = 7300000/9 Accounts receivable balance = 811111
What number do you call to check your Chase account balance?
The number in the U.S.A. for existing accounts is (800) 935-9935, .
When confirming accounts payable emphasis should be put on what kind of accounts?
Vendors that the company has made a large number of purchases from (in terms of dollar value). The account balance does not matter.
Which taxonomic level for a given genus includes the greatest numbers of species?
The phylum includes the greatest number of species.
How do you number accounts?
Accounts are usually numbered in the same sequence they appear in the Trial Balance. In addition, each classification of account often starts with a different number. So Asset accounts might start with 100, Liabilities with 200, Equity with 300, Income accounts with 400, Cost of Goods Sold with 500 and Expenses with 600.
Does sainsburys bank offer free savings accounts?
The savings accounts are free of charge, but there are balance requirements, depending on the type of savings account. There are also restrictions such as the number of withdrawals allowed each month.
What is difference between Number of bank accounts and bank account number?
Number of bank accounts is how many bank accounts and bank account number is the number that identifies the bank account.
What statement about money market accounts is not true?
A common misconception about money market accounts is that they are the same as regular savings accounts. While both are deposit accounts, money market accounts typically offer higher interest rates and may require a higher minimum balance. However, they often come with limited transaction capabilities, such as restrictions on the number of checks that can be written each month.
How do you fix a credit score of 514?
1> Pay your bills on time. 2> Reduce the number of open accounts that are revolving accounts. 3> Reduce the number of inquires for you credit. 4> Keep low balance on your credit cards. You would have to stay consistent doing this for 2 to 3 years.
How do you find a greatest number of a number?
Which number is greatest?0.0990.2920.3810.413
Is it possible for an account number to consist of only 7 digits?
Yes, it is possible for an account number to consist of only 7 digits.
