Types of Receivables Accounts Receivable: amounts due from customers for sales on credit. Businesses sell to customers on credit in an attempt to increase their sales. Also called Trade Debtors. Bills Receivable: similar to accounts receivable but bills receivable are a legal instrument. Interest is charged on the bill receivable and it usually gives more time to pay than accounts receivable. interest receivable‚ rent receivable Accounts Receivable Recognition of accounts receivable Recorded
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IN SCHEDULE A ATTACHED HERETO AND MADE A PART HEREOF‚ WHICH PROPERTY‚ TOGETHER WITH THE INVESTMENTS‚ REINVESTMENTS‚ ACCUMULATED INCOME AND PROCEEDS THEREOF‚ AND ADDITIONS THERETO‚ SHALL HEREINAFTER CONSTITUTE THE PROPERTY OF THIS TRUST (THE TRUST FUND); AND WHEREAS‚ the Trustee has agreed to hold‚ manage‚ invest‚ and reinvest the Trust Fund to collect the income therefrom and after paying all expenses properly attributable thereto‚ to distribute the Trust Fund in accordance with the terms
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1. Standard Chartered Bank Standard Chartered PLC is a British multinational banking and financial services company headquartered in London‚ United Kingdom. It operates a network of over 1‚700 branches and outlets (including subsidiaries‚ associates and joint ventures) across more than 70 countries and employs around 87‚000 people. It is a universal bank with operations in consumer‚ corporate and institutional banking‚ and treasury services. Despite its UK base‚ around 90% of its profits come
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Classificatory smoothing of Income with Extraordinary Items - Summary Within this paper they talk about whether extraordinary items are used to smooth ordinary or operating income over time. The role of extraordinary items was never really looked at become separately and that is what they wanted to look at. They talk about how previously the focus was on net income after extraordinary items but that it is important to look at net income before extraordinary items also
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Task one A). How do living things interact? Living things find a way to live off the land. Not with artificial flavouring or stuff like that. But it may not last unless we take good care of it. Living things interact by: 1). Viruses Learn about viruses and their surroundings‚ and how they are created. What is a Virus A virus s a small‚ NONLIVING particle that invades and then reproduces inside a living cell. Viruses are considered nonliving because they are not cells. They cannot: * use energy
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at incredibly fast speeds and those speeds are only accelerating. These new technologies have allowed for people to complete tasks in new ways and from the comforts of their homes! With these improvements has come the argument about whether the limitation of human contact due to the use of technology has had positive or negative effects on people’s lives. While some negative effects are present‚ the vast majority of
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difference; taxable income given LO1 Alvis Corporation reports pretax accounting income of $400‚000‚ but due to a single temporary difference‚ taxable income is only $250‚000. At the beginning of the year‚ no temporary differences existed. Required: 1. Assuming a tax rate of 35%‚ what will be Alvis’s net income? 2. What will Alvis report in the balance sheet pertaining to income taxes? Solution: Requirement 1 Since taxable income is less than pretax accounting income‚ a future taxable
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capital employed? A B C D current assets – current liabilities fixed assets + current assets – current liabilities fixed assets + current assets + current liabilities net assets – current liabilities 2 When preparing a sole trader’s annual accounts‚ no adjustments were made for closing amounts prepaid. What is the effect of these omissions? A B C D net profit overstated net profit understated current assets overstated creditors understated creditors understated owner’s capital overstated
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Income per person is described as the amount of money that is been earned per person in a certain area or place. It is also known as the per capita income. Income per person is the measure of the mean income of people in an economic unit such as a country or a city. Income per person or per capita income is calculated by taking a measure of all sources of income in the aggregate or the Gross national income and dividing it by the total population. The income person is used as the
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INTRODUCTION BACKGROUND OF THE STUDY Our country is an ideal area for economic growth. Its mild climate‚ rich natural resources‚ and fertile soil suited for plant growth are some of many reasons to justify why our country could be developed economically. It is to be noted; however that increase production means economic growth and a way to raise the living standard of families. As economic growth improves the average citizen’s standard of living a smaller portion of the population tends to
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