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  • Type of Bank Accounts

    3767 Words  | 16 Pages

    Survey of Various types of Bank Accounts, rate of interest offered Mr. Pinto (name changed on request) of Axis Bank Limited of Nerul Branch was very co-operative when I visited their branch and introduced myself as a 10th Std. student of Ryan International School, Nerul and inform my purpose of visit of carrying out a survey on various types of bank accounts available and commonly used in India. He offered me a place to sit and called for water and request to give him some time to complete his

  • Total Accounts Receivable

    2266 Words  | 10 Pages

    After taking into account the results for these two tests, the should-be balance for the Total Sales of the period was computed to be $5,317,470.36. Valuation or Allocation The total Accounts Receivable balance in the records of $4,752,257.70 was verified by setting a filter of “Remit_Num = 0” and then getting the total amount due. By doing this, only those sales which do not yet have a remittance advice are part of the accounts receivable. The figure below is the outcome

  • Accounts Receivable and Increase

    2661 Words  | 11 Pages

    is: Select one: a. decrease the asset computers, increase the asset cash, decrease the liability accounts payable. b. increase the asset computers, increase the asset cash, decrease the liability accounts payable. c. increase the asset computers, decrease the asset cash, increase the liability accounts payable. d. increase the asset computers, decrease the asset cash, decrease the liability accounts payable. Question 2 Complete Mark 1.00 out of 1.00 Flag question Question text If only one side

  • Disadvantages Of Account Receivables

    1150 Words  | 5 Pages

    Account receivables are used as a type of asset – financing to determine the outstanding invoices or the money owed by the customers. The account receivables can help finance companies by boosting its cash flows. It focuses on trying to collect bills from customers. The unpaid invoices are also considered in the account receivables and referred as bad debts. Bad debts are debts that customers are not able to pay either because they are bankrupt. In account receivables financing also known as

  • Accounts Receivable and Information

    6187 Words  | 25 Pages

    extensive inventory control systems. * Passenger service companies (e.g., airlines, bus, and trains) generally receive payments in advance of providing services. Therefore, extensive billing and accounts receivable procedures are not needed; instead, they must develop procedures to account for prepaid revenue. * Construction firms typically receive payments at regular intervals, based on the percentage of work completed. Thus, their revenue cycles must be designed to track carefully

  • Accounts Receivable and Correct Marks

    1036 Words  | 5 Pages

    | | | c. Allowance for doubtful accounts. | | | d. The present value of accounts receivable. | | Correct Marks for this submission: 5/5. Question 3 Marks: 5 The practice of reporting the net realizable value of receivables in the financial statements is commonly called: Choose one answer.

  • Confirmation Procedure of Account Receivable

    1205 Words  | 5 Pages

    receivables follow:   Step-1. Obtain Aged Schedule of Accounts Receivable The auditor should obtain an aged schedule of accounts receivable as of the confirmation date. He or she should apply the following procedures to this schedule: Determine that totals are correct. Compare all or a selected sample of account balances with the account balances in the accounts receivable subsidiary ledger. Investigate credit balances.   Step-2. Select Accounts for Confirmation Auditors have used, and some continue

  • Aging Schedule of Accounts Receivable

    1396 Words  | 6 Pages

    Table 1: Aging Schedule of Accounts Receivable AGE OF ACCOUNT | BALANCE OUTSTANDING | % OF TOTAL BALANCE OUTSTANDING | 0-15 days | $ 20,000 | 19.59 % | 16-30 days | 30,000 | 29.39 | 31-60 days | 40,000 | 39.19 | 61-90 days | 10,000 | 9.80 | Beyond 90 days | 2,071 | 2.03 | TOTAL | $ 102,071 | 100.0 % | 2. To evaluate the credit quality of Aero-Strip’s accounts receivables portfolio, we turn to their average collection period (ACP) and aging of accounts receivable. Knowing the ACP

  • Accounts Receivable and Internal Control

    1470 Words  | 6 Pages

    data was taken from the production and accounting records for Casuccio Manufacturing, Inc.   Unaudited 20X9 Audited 20X8 Audited 20X7 Operating Data       Capacity in Units 450,000 450,000 450,000 Production in Units 450,000 400,000 300,000 Inventory in Units 32,000 28,000 21,000 Financial Data ($000)       Total Revenues

  • Interpreting Bias Within Historical Accounts

    1501 Words  | 7 Pages

    Interpreting Bias within Historical Accounts History is often regarded as strictly defined and unyielding, particularly by those who uphold the rationalist view that it is possible for a human being to objectively record observations of an event. However, the romantic view of reading history is more in line with the reality that all nonfiction literature is subject to the bias of those writing it. The romantic approach embraces what those fixated on their rationalist views try desperately to ignore