that make up the four classifications of law. 1. Substantive of laws vs. Procedures of laws- Substantive of law is the substance that makes up a law. It is the meaning of a law that explains what you can and cannot do. For example the law states that you cannot murder another human being unless it was in self defense‚ you were under duress‚ or if you were drugged by another person. Unlike substantive of law‚ Procedures of laws are just the steps that must take place when
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the questions 1. (a) (b) Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage. “Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
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RELATED LITERATURE Receivables are one of the three primary components of working capital‚ the other being inventory and cash. Receivables occupy second important place after inventories and thereby constitute a substantial portion of current assets in several firms. The capital invested in receivables is almost of the same amount as that invested in cash and inventories. Receivables thus‚ form about one third of current assets in India. Receivables provide protection to sales from competitions
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You Decide Assignment Accounts Receivable Crisis 09/05/11 Instructor: Eric Oestman Class: HS543 I. INTRODUCTION: After conducting a meeting with the medical staff‚ various clinical departments‚ Health Information Management‚ and Business office personnel regarding Accounts Receivable issues within our facility‚ it was determined that many different areas of concern needed to be addressed. This includes problems with patient admission and registration procedures‚ claims processing‚ an
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Topic: RECEIVABLES I. DEFINITION These represent amounts collectible from customers and others‚ most frequently arising from sales of merchandise‚ claims for money lent‚ or the performance of service. They may be interest bearing‚ collateralized‚ or billed. II. COMPOSITION A. Trade 1. Accounts Receivable 2. Notes Receivable B. Non-Trade 1. Advances to Officers and Employees‚ Affiliates and Others 2. Claims against Suppliers and Insurance
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from another company. Subtract $15‚000. The information in the fourth bullet point was handled correctly. No adjustment. $215‚000 - $44‚000 - $15‚000 = $156‚000. 4- A company has net sales of $900‚000 and average accounts receivable of $300‚000‚ What is its accounts receivable turnover for the period?
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THEME: ACCOUNTS PAYABLE By John W. Day‚ MBA ACCOUNTING TERM: Accounts Payable An account payable is normally an unsecured‚ non-interest bearing current liability‚ owed by the company to a vendor for the purchase of trade goods or services. FEATURE ARTICLE: Accounts Payable Accounting If you are a small business owner or manager and you are having trouble keeping track of all those outstanding bills that have to be paid each month‚ perhaps you need to set up an accounts payable system. Some small
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Question 19. Dr Accounts Receivable Cr Dr Allowance for Uncollectibles Cr Jan 1. 82‚900 c. 4‚400 c. 4‚400 Jan 1. 8‚700 a. 240‚000 d. 231‚200 b. 4‚800 Dec 31. 87‚300 Dec 31. 9‚100 Dr Bad Debt Expense . Dr Sales Cr b. 4‚800 . a. 240‚000 Dec 31. 4‚800 Dec 31. 240‚000 Dr Cash Cr d.
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Problem 1 The accounts receivable of FRANCO COMPANY were stated at P1‚467‚000 in a balance sheet submitted to a banker for credit. You are called upon to audit the report and‚ upon analysis‚ the asset was found to consist of the following items: Due from customers on open account P 1‚125‚000 Acknowledged claim for damages 22‚500 Due from consignee at billed price – cost price being P22‚500 30‚000 Investment in and advances to affiliated company 150‚000
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Substantive law is law that defines rights and duties‚ such as crimes and punishments‚ civil rights and responsibilities in civil law. An example of substantive law is the law of murder: intentionally killing another person. Substantive law basically answers the question: What is the law? Procedural law is the law governing the machinery of the courts and the ways by which both the state and the individual enforce their rights in the courts. Procedural law is more like when a person can be arrested
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