Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Money payable by customers (individuals or corporations) to the other entity in exchange for goods or services that have been given or used, but not yet paid for. Receivables typically come in the form of operating lines of credit and are generally due within a comparatively short time period, varying from a few days to a year.
On a public company's balance sheet, accounts receivable is frequently entered as an asset as this presents a legal obligation for the customer to pay cash for its short-term debts
If a company has receivables, this shows it has made a sale but has still to collect the money from the buyer. Most companies function by allowing a little portion of their sales to be on credit. This kind of sales are generally made to frequent or special customers who are invoiced regularly, and allows them to evade the hassle of physically making payments as every transaction takes place. In other words, this is when a customer provides a company an IOU for goods or services previously received or rendered.
Accounts receivable are not restricted to businesses - individuals have them too. People get receivables by their employers in the form of a bi-weekly or monthly paycheck. They are legally paid this money for services (work) already given.
When a company pays debts to its suppliers or other parties, these are referred to as accounts payable.
Q. Common deductions from gross sales? Generally sales are for cash or on account when a sale is for cash the debit is to Cash and the credit is to Sales. While a sale is on ac
SCENARIO In May of the current year, your employer received a PIER report from the CRA that identified Canada Pension Plan (CPP) contribution deficiencies for employees in the org
Wendell Corporation exchanged an old truck and $25,500 cash for a new truck. The old truck had a book value of $6,000 (original cost of $25,000 less $19,000 in accumulated depre
HOW TO RECORD INVENTORY AT NET REALISABLE VALUE ON JOURNAL100 words accepted#
Q. Income statements - Service and merchandising company? We evaluate the main divisions of an income statement for a service company with those for a merchandising company. To
A) During the year, total liabilities enhanced $106,010 and stockholders' equity reduced $67,590. What is the amount of total assets at the end of the year? B) If total assets e
Required: Record the following transaction on the spreadsheet, total each column a. Issued 100 shares of common stock for $12 per share, par=$1, on Jan 15, 2011. b. On Feb. 5 pu
What are steps to explain supplier? Ans) Supplier should follow the check list. 1 He should make confidence in the client mind 2 Services to be completed (fulfilled in tim
Cowhand's Bar-B-Q House went into business on January 1, 2009. The following information is available at December 31, 2009: Sales revenue for the year $30
A of surat consigned goods to b of jaipur
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd