Define and explain short-term and long-term accounts receivable.

Q: Describe the Subsequent Valuation of Accounts Receivable.

A: Accounts receivable    It refers to the amount for which the services and goods have been delivered…

Q: Define Notes payable.

A: Notes payable is a liability item in the balance sheet of an organization.

Q: Please help with the calculation of Net profit margin, Gross profit margin, Current ratio, Acid test…

A: Net profit margin = Net profit (loss) / Sales Revenue = - 1410 / 5600 = - 0.25   Given Net income =…

Q: What are the types of accounts receivable?

A: Account receivable is an asset account that represent amount due to the company from debtors…

Q: What is the difference between Accounts Payable and Accounts Receivable? Explain each in generic…

A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

Q: Explain the impact of the collection of these receivables on the Financial Statements.

A: Introduction:- Financial statement gives clear picture of financial position of the company.…

Q: Payables and Receivables. As a financial manager, would you prefer that the accounts payable period…

A: The longer the period one can wait to make payment for the inventory, the longer will be the A/P…

Q: preparing a balance sheet, interest receivable goes under what heading?

A: Balance sheet:It is one of financial statement which shows the assets, liabilities and shareholders’…

Q: How to calculate accounts receivable turnover

A: Accounts receivable turnover refers to how a business uses its assets.The receivables turnover ratio…

Q: Define Accounts Receivable (Trade Receivables, Receivables)

A: Definition: Current assets: The assets which could be converted into cash within one year like…

Q: Describe about the Accounts payable.

A: Accounts payable: A liability which is payable within a short period is termed accounts payable and…

Q: Explain the initial measurement of long-term notes receivable.

A: solution : Explain the initial measurement of long-term notes receivable. Long term note receivables…

Q: accounts receivable,

A: Account receivable :- When Company Goods sold or tendered service on Credit to customer and Company…

Q: What is the difference between ‘accounts payable (AP)’ and ‘accounts receivable (AR)’?

A: Credit Transaction: Under a credit transaction, the exchange of goods or services takes place where…

Q: Define Accounts payable.

A: Accounts payable refer to money owed by a entity to its creditors or suppliers from whom the entity…

Q: Describe the accounting treatment of notes receivable

A: If the note receivable is due within a year, then it istreated as a current asset. They are commonly…

Q: We report accounts receivable in the balance sheet at the amount expected to be collected. Explain…

A: Account receivable: The amount of money to be received by a company for the sale of goods and…

Q: Preparing a balance sheet, allowance for uncollectible accounts goes under what heading?

A: Allowance for Uncollectible Accounts indicates the amount of receivables that are expected to remain…

Q: What is accounts receivable management?

A: Accounts receivable management is method for ensuring that whether the customers are paying their…

Q: What are Account for notes payable and interest expense.

A: Notes Payable- It is a type of document or instrument which is issued to creditors for a specific…

Q: Explain the measurement of accounts receivable. (Write a complete thought or answer)

A: Account receivable is shown in the balance sheet as assets. Account receivables is the total…

Q: What is the:  Accounts Receivable   =                                     =     Accounts…

A: Accounts Receivable Accounts receivable which is treated as one of the main source of liquidity…

Q: Define Receivable Management and Credit Policies

A: Receivable Management : managing the outstanding   Credit Policies  : Selling on credit to parties…

Q: Explain the subsequent measurement of long-term notes receivable.

A: Long-term notes receivable are those notes which are due for more than one year after the date of…

Q: Explain the accounting for long-term notes payable.

A: Notes payable: Notes payable is a written promise to make payment for specific sum at a certain…

Q: Briefly explain the methods used for valuing accounts receivables.

A: In the given question, we need to briefly explain the methods used for valuing accounts receivables.…

Q: How are credit balances in accounts receivable reported on the financial statements?

A: Sales is the revenue being earned by the business on delivery of goods and services by the business.…

Q: What is the formula to compute interest on a note receivable?

A: Note receivable: Note receivable refers to a written promise for the amounts to be received within a…

Q: How to determine the adjusted balance of Accounts Receivable by usind the analysis of receivables…

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: What are accounts for notes payable and interest expense.

A: Payables indicate the amount owed by the organization from outsiders which requires to be paid…

Q: Explain Long-Term Notes Receivable with example.

A: Notes receivable: An asset representing the right to receive the principal amount contained in a…

Q: initial measurement of short-term notes receivable

A: Short-term notes receivable are notes issued by the debtor, the amount in respect of which is…

Q: its sales, what will be the level of accounts receivable following the change?

A: We know that DSO = accounts receivable/sales * 365 Hence 50 = 1,000,000/sales*365 or sales =…

Q: notes payable and interest expense.?

A: The Role of accounting is to provide information to investors, creditors, management and…

Q: 1. Calculate the Accounts Receivable Collection Period & Accounts Payable Payment Period based on…

A: Accounts receivable collection period = 365 x Average Accounts receivable…

Q: What is the difference between Accounts Receivable andRevenue?

A: Accounts receivables: Accounts receivables refers to the debtors that arise in case of credit sales…

Q: Explain accounting issues related to valuation of accounts receivable.

A: Accounts receivable refers to the amount that is owed to the company as a result of providing goods…

Q: Explain how to calculate day’s sales in receivable.

A: Average collection period: Average collection period indicates the number of days taken by a…

Q: how are accounts receivable measured and what are the control measures on accounts receivable?

A: Account receivable measured by using account receivable to sales ratio. Account receivable turnover…

Q: Explain how accounts receivable are presented in the financial statements.

A: Introduction: Current Assets: Assets which are easily convertible in to cash with in a short period…

Q: Describe the Initial Valuation of Accounts Receivable.

A: Accounts receivable are those amounts that are to be received from customers because of credit…

Q: What is Accrued receivables?

A: Accruals:Accruals are the revenues that are earned but not received, and expenses that are incurred…

Q: When a receivable is written off under the allowance method, how does it affect the net realizable…

A: Allowance method: It is a method for accounting bad debt expense, where uncollectible accounts…

Q: List some common examples of other receivables, besides accounts receivable and notes receivable.

A: Accounting for Receivables:   Receivables are defined as the amounts that are due to a firm by its…

Q: What two purposes do firms achieve by estimating future uncollectible accounts?

A: What two purposes do firms achieve by estimating future uncollectible accounts?

Q: How do you get the total for accounts recievable turnover

A: Accounts Receivables Turnover Ratio represents the rate at which cash is accounts receivable is…

Q: What is the average amount of receivables?

A: P81,875 is the average amount of receivables.

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.