Accounts Receivable

literature review on non performing assets?

Common method of hiding embezzlement activities

the answer is...........

account title;

cash 2600

merchandise sold 1500

it's a liability account, it is use to record the amount of money employer owe to employee

Long term liability becomes the current liability in that year in which it is to be cleared so Yes, long term liability become current liability.

The key is the number of days in which the credit is collected by the company. Bad debt percentage alone is not the ultimate measure, it is a combination of different credit control percentages along with the time within which debts are collected that matter.

no

included in the cost of a plant assets

as per accounting norms.the organisation and the owners are different persons. eg in partnership firm and partners,company and shareholders. thus any contribution received from the latter is considered as liability. equity is shown seperately from liability because of the basic difference in its nature and for better decision making of users

Short term loans, Insurance prepaid a/c

First of all, all accounts needs to be defined in company charts of accounts. So if any account is not already exists, first create it in charts of accounts for any transaction.

If adjusting entry not made then profit will be overstated while the expenses will be understated.

usually in about 2-3 business days!

purchase, marketing, selling and distribution expenses, production

True

Has the company declared bankruptcy? If so, what kind of bankruptcy? Does the company still exist or is it being liquidated entirely? What kind of agreement exists with the vendors? Are you buying the company, or just its assets? It can work either way, depending upon the circumstances.

When liability is payable within one fiscal year then it is current liability while one liability is payable within more than one period then Is non-current liability.

prepaid liabilities

Vernon Street Capital is a company that provides individuals the ability to get into the lending industry. They provide a complete training program in addition to a lending platform to submit loans. They also have a variety of additional financial products to offer their customers who may be having difficulty qualifying for a traditional loan.

Check clearing is the process that banks utilize to record the account that the money originates from as well as the account the money is received at.

Check clearing is the process by which banks record whose account gives up money and whose account receives money when a customer writes a check. A bank holding company is a company that owns multiple banks.

true

account payable

The cash account.