Statement of Financial Position.ppt- Accounts Titles

Short a current assets a d trade and other receivables

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Unformatted text preview: duration. short A. Current Assets A. d. Trade and Other Receivables – are collectibles from Trade customers, clients, and other persons for the goods , services or money given by the business. services d.1 Accounts Receivable – amount to be collected d.1 in the future from customers or clients in d.2 Notes Receivable – amount to be collected d.2 in the future from customers supported by a promissory note. promissory A. Current Assets A. d.3 Interest Receivable – the amount of interest d.3 collectible from Notes Receivable. collectible d.4 Advances to Employees – amount of cash d.4 advance given to employee advance d.5 Accrued Income – income earned but not d.5 yet collected as of end accounting period. yet A. Current Assets A. d.6 Rent Receivable – amount to collected from tenants for space rented tenants d.7 Dividend Receivable – expected divided to d.7 received from investment in stocks. received d.8 other receivables A. Current Assets A. e. Prepaid Expenses – these represent advance Prepaid payments for benefits or service to be received by the business in the future. Examples are: the e.1 e.1 e.2 e.2 e.3 e.3 Supplies/Prepaid Supplies/Unused Supplies Prepa...
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