Define each of the following terms:h. Trade (cash) discounts

Q: Define cash and cash equivalents and explain how to report them.

A: Cash and cash equivalents are the current assets of a company which are available as cash or readily…

Q: the amount recorded as a sale , and the actual amount collected when paid within the discount…

A: Trade discount is the discount which is received by the buyer of the goods on the purchase of goods…

Q: Define Accounts Receivable (Trade Receivables, Receivables)

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

Q: Distinguish trade discounts and cash discounts.

A: Introduction: Discount: Discount is an expense to be shown in income statement. All expenses to be…

Q: Define discounts (in credit terms)

A: Discount in credit terms is a method utilized to understand receivables for deal with cash flow…

Q: the contra -asset of accounts receivable is

A: The contra assets of accounts are represented as the deductions from a gross account. The contra…

Q: What is the nature of a “discount” on notes payable?

A: A discount on Notes payable is a contra liability account to the Notes payable account. When the…

Q: Down payment refers to a. A trade discount b. An installment payment C. A partial payment d. A cash…

A: The question is multiple choice question. Required  Down Payment refers to ?

Q: Explain the difference between a trade discount and a cash discount.

A: Discount is the deduction from the cost of product or service that a seller offers to the buyer…

Q: Define Receivables turnover ratio with example.

A: Receivables turnover ratio: It refers to the accounting ratio that shows the efficiency of a firm of…

Q: Calculate current ratio, quick ratio and receivable turnover ratio

A: Current assets = 38,761 Current liabilities = 6,850 Inventory = 6,300 Prepaid expense = 800 Average…

Q: In measuring the transaction price, explain the accountingfor (a) time value of money, and (b)…

A: Time value of money: It is a value of a particular amount of money at present that will be more than…

Q: rms: credit transfer, dishonoured cheque, standing order and give examples, the purposes, advantage

A: Credit transfer can refer to: The transfer of money from one account to another, also called a wire…

Q: Define cash discounts (in credit terms)

A: Cash discounts shall not be reduced to the negotiated selling rate at the time of the purchase they…

Q: Define Receivable Management and Credit Policies

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

Q: Define each of the following terms:k. Accruals; trade credit

A: There are two types of systems in accounting, one is a cash system of accounting and the other is…

Q: Trade Discount and Cash Discounts

A: Trade discount Purchase price * Rate of trade discount Purchase price $2,000 Rate of trade…

Q: calculate the discount date and the net date for the transaction.

A: Given that the invoice terms are 2/10 , n/45 That is if the invoice is paid in 10 days we get a…

Q: Which term is associated with “right” or “right-side”? Debit. Credit.

A: In the T accout format The right side in accounting always represents the credit side of the…

Q: Define each of the following terms:a. Cash discounts

A: The discount is an amount that is deducted from the selling price of the product or service.

Q: Cash Discounts. ISCoun

A: It is pertinent to note that cash discounts are given by debts for prompt payment of invoices .…

Q: Distinguish between the gross and net methods of accounting for cash discounts.

A: Cash discount: A cash discount is a reduction in the amount that is to be paid by the credit…

Q: Cash flow may be represented as being determined from: -receivables -operating income -revenue…

A: Cash flows include the net amount of cash and cash equivalent of the business that shows the in and…

Q: What do you understand from trade and cash discount? How to calculate trade discount, cash discount…

A: SOLUTION- To increase sales revenue and attract more buyers, every company offers trade and cash…

Q: Name three accoounts typical of the liability side of a Balance Sheet. In what side would you enter…

A: A balance sheet or statement that describes a company's assets, liabilities, and shareholders'…

Q: ) Briefly explain the meaning of cash discount.

A: Cash discount  is the discount  offered by the seller of a product  to the buyer at the time of…

Q: Define Accumulated cash-flow sign test

A: Accumulated cash flow sign test is applied in a series of cash flows over the period of time. This…

Q: Problem 1. Theoretically, cash discounts permitted should be a. Added to other income. whether taken…

A: Solution:- Cash discount:- Cash discounts are the additional discounts offered by sellers to the…

Q: The time period during which the invoice is paid is called: A. Rate of discount B. Discount period…

A: Invoice refers to a document representing the information about the amount owed by customers through…

Q: or the cash flow given below, nnual uniform deposit (A) that yie

A: First we need to compute the present value of these cash flows. Then, we can compute value of A…

Q: Define each of the following terms:i. Credit policy; credit period; credit standards; collection…

A: CREDIT POLICY- ''Guidelines that spell out a way to decide which customers area unit sold-out on…

Q: attemntine determine the nount of cash and

A: Solution:   Calculation of cash balance $ 1 Commercial savings account 6,00,000 1 Commercial…

Q: What is Accrued receivables?

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

Q: Diffrence between debit and credit ?

A: Debit and credit are two sides of general ledger account. For some accounts, debit means increase…

Q: how to you calculate partial payments during cash discount time

A: Partial payments within the discount period are computed by multiplying the partial payment credit…

Q: Suggest  three accounts typical of the liability side of a Balance Sheet. In what side would you…

A: A balance sheet or statement that describes a company's assets, obligations, and shareholders'…