Accounts receivable is a legally enforceable claim for payment from a business to its customer/clients for goods supplied and/or services rendered in execution of the customer’s order. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in a balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the
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NATURE OF ACCOUNTS A separate account is maintained for each item in the balance sheet. Transactions may be recorded by entering the amount by which each item is affected into the respective account. The process of recording transactions consists of • T-Accounts. The T-account‚ named for its shape‚ is a convenient way of representing an account on a piece of paper. The T‚ with the account name entered at the top‚ permits transaction information to be entered on either side of the vertical
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ACCOUNT BALANCES For many purposes‚ it is necessary to determine the balance in an account. This is accomplished by adding the debits‚ credits‚ and determining the difference between the two sums. An account is said to have a debit balance if the sum of the debit entries to that account exceeds the sum of the credit entries. Conversely‚ an account has a credit balance if the sum of the credit entries exceeds the sum of the debit entries. Asset accounts normally have debit balances inasmuch as
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EXAMPLES OF ACCOUNTS FALLING UNDER EACH ACCOUNTING EQUATION ELEMENT: Current Assets Cash - A current asset account which includes currency‚ coins‚ checking accounts‚ and undeposited checks received from customers. The amounts must be unrestricted. (Restricted cash should be recorded in a different account.) Petty Cash Fund - A current asset account that represents an amount of cash for making small disbursements for postage due‚ supplies‚ etc. Notes Receivable - An asset representing the
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Why English-only policy would not work? What would happen to America if immigrants could not speak their native-languages anymore? The use of languages other than English stimulated a movement known as “English Only Movement” in the U.S‚ which has been a subject of great controversy. On one hand‚ the pro English only agree it would encourage immigrants who do not speak English to learn it; therefore‚ it would turn them Americans bringing the U.S together as a whole. On the other
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REFLECTIVE ACCOUNT UNIT 6 ROLE OF A HEALTH AND SOCIAL CARE WORKER AT 7.15AM I CLOCK IN AND TAKE MY COAT AND BAG OFF AND LOCK THEM IN MY LOCKER SO I AM READY TO START MY SHIFT STRAIGHT AWAY‚ EVEN THOUGH I SOMETIMES SOCIALISE WITH SOME OF THE STAFF I WORK WITH I ENSURE I AM IN THE RIGHT FRAME OF MIND TO WORD PROFFESIONALLY WITH THEM AND NOT PERSONALLY SO THAT WE ARE ABLE TO WORK AS PART OF A TEAM AND ARE ABLE TO DO THE JOBS THAT WE ARE EMPLOYED TO DO‚ THEN I WILL WALK INTO THE DINING ROOM
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Outcome 5 Section 1 Badges of Trade Firstly it is important to determine if Ali is trading as annual profits from trade or non-trade are taxed under different schedules. There is no single test for trade; in determining if trade has occurred there are six badges which must be considered‚ a brief description of each badge and an outline of how it affects Ali’s circumstances is outlined below. Subject Matter If the asset sold might be for personal enjoyment or investment e.g work of art or shares
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INTRODUCTION For this assignment I will be writing a reflective account which will identify a significant episode of care in which I had been involved with‚ by identifying the pathophysiology and the disease process for the chosen patient; this will be presented by giving a brief outline of the psychosocial influences of the illness for the patient and others who may have been involved with the care. I will also reflect upon this episode by using a reflective model and examining the nursing process
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Outcome 1: Reflective Account No.1 Outcomes 1a‚ b‚ n‚ o‚ p‚ r and u In this reflective account I will be using the Gibbs Reflective Cycle (Gibbs 1988). As stated by the NMC "You must respect people’s right to confidentiality." (NMC 2010) So all names will be changed throughout this reflective account. On my recent placement in Hairmyres hospital I had been asked by a nurse if I wanted to do the medicine round with them to get an idea of what it was like‚ I had agreed to this and found it interesting
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EXAM SAMPLE EXAM 1. The accounting process does not include: a. b. c. 2. d. e. labor unions all of the above statement of owner’s equity income statement balance sheet d. e. both b and c all of the above This account does not appear on the income statement: a. b. c. 6. lenders prospective owners customers Expenses can be found in the: a. b. c. 5. balance sheet balance sheet and journals balance sheet and income statement income statement
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