Accounts Receivable

Accounts Receivable are any invoices you have on your books that your customers still owe money for (credit).

Accounts Payable are any invoices that your company needs to pay- bills, suppliers etc.

Yes under theft of services laws, if you provided a service to them. Or just theft if you sold them a product on credit.

pay on time

the company is collecting accounts receivable amount equal to the increase in credit

Accrued revenue is income that has been earned but not yet received. An example would be if you own a rental home and the rent is due on the 1st but your tenants do not pay until the 10th of the month.

A contra payment occurs where you owe money to someone, but they also owe money to you, therefore the debt of the person owing the lower amount is cancelled, the other only needs to pay the difference, and it all comes out even.

In accounting software you might set up a "contra account" to be able to handle such a transaction.

Auditing is the examination and evaluation of financial statements to check financial accuracy.

Liabilities Liabilities

see the site. http://ccba.jsu.edu/accounting/BADDEBTS.HTML

credit bank, debit all contra accounts :)

Your account is not fully set up yet if you are getting this message at the ATM. Most banks will inform you that you cannot withdraw money for up to 24 hours after setting up a new checking account.

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.

You can steal accounts like zoeyfuzzybear247 pass: muffinlove101

assets and liabilities

Global accounting is a system that some places use that provides them a gross margin in a specific period. This system works best for dealers who trade in bulk volume with low value goods.

the ability to use two or more body parst together .this helps athlets to move smoothy and quickly especialy when also having contoll on ball.

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Buyer a/c dr.

To Sales a/c.

The GAAP shows such an entry as:

Account Receivable (debit) $$$

Sales (Revenue) (credit) $$$

This is based on Double-Entry Accounting as standardized by the GAAP.

For example, say you sold a computer to a customer on credit for $1500, the journal entry would read

AR (debit) $1500

Revenue (credit) $1500

Some companies use the term Sales, Revenue, and even Income. Which generally refer to the same thing.

Accounts receivables would be included in the balance sheet. The income statement reports revenues and expenses. Accounts receivables is an asset account and all the asset, liablities and equity accounts are reported on the balance sheet.

If you dont. Your mom will grow balls.

2/10 n30 means that there is a 2% discount if paid in 10 days, otherwise the full net amount is due in 30 days.

No, I'm 6 and a half.

The difference between working capital (w/c) and fixed capital (f/c) is as follows:

i) f/c is used 2 buy fixed assets like land and building.w/c is used to carry out day to day operations.

ii) f/c consists of land ,building,tools,machines etc.w/c consists of cash,marketable securities,accounts receivable,stock etc.

iii)f/c includes long term financial decisions.w/c includes short term financing decisions.

iv) f/c is mainly required for operational activities.w/c is required for trading activities.

LIFO - last in first out.