Professor Guerrero's Blog

mguerrero@gmail.com

Co-author of East of Tiffany's, 13 short stories of a Latino immigrant's success in USA; a journey from West Harlem to Sutton Place and Park Avenue. Check out the reviews in Amazon.com and in Barnes and Noble.

on KINDLE on NOOK

My best seller as of now is

Titanes de la Filosofia

Professor Guerrero's Blog: Ch9 Accounting for Receivables Professor Guerrero's Blog: Book Reviews, Human Interest Articles, Accounting Lessons, and Writing Techniques

Book Reviews  

Books

Sentence Openers Book: FREE Lessons

Jane Austen  

Boethius: Consolation of Philosophy

How to Become a Writer  

Personal Finance  

Self Help, Wealth, & Learning

Greeks Romans Trojans  

Feminism  

Great Gatsby: Is Nick Gay?

All my books are now in NOOK

Ideas About the Novel is a prophetic book that all writers must own.

Ideas About the Novel by Ortega y Gasset - my translation $0.99


Next to Cervantes, Benito Perez Galdos is the most beloved Spanish writer of all times.

Torquemada at the Stake by Perez Galdos- my translation $0.99

Lazarillo of Tormes - my translation $0.99
Read it in contemporary English -- No Thous, Thees, or King James' Bible language. Transliterated into easy language for enjoyable reading pleasure. Because The Lazarillo of Tormes pointed a new direction, European and American literature benefited with titles that today are considered classics: Cervantes’ Rinconete and Cortadillo; Daniel Defoe’s Moll Flanders, Henry Fielding’s Tom Jones and Joseph Andrews; Tobias Smollett’s Roderick Random, and Peregrine Pickle; Voltaire’s Candide; Charles Dickens’ David Copperfield. And many others to include American works ranging from Mark Twain to Saul Bellow.

Dehumanization of Art by Ortega y Gasset - my translation $0.99
The Dehumanization of Art— is now a constant in music, literature, aesthetics, and philosophy, having come to mean that in post-modern times human-shaped mimesis (representation of the human) is irrelevant to art. According to Ortega, the arts don't have to tell a human story; art should deal with its own forms—and not with the human form.

Sentence Openers
How writers open their sentences makes prose agile, interesting, and athletic. This e-book teaches how to break the pattern Subject-verb-object--and discard openings that begin with nouns, articles, and pronouns.

East of Tiffany's - bestseller $5
With the city as its backdrop "East of Tiffany's" is filled with earnest tales of love, loss, faith, success and morality. While business terminology is interwoven throughout these short stories, it's not business lessons that I take away with me, but life lessons. The circumstances and the characters' profound humanity are relatable despite their zip code . "Luke, Postmodern Man" offers a new vista into faith, suffering, and love of neighbor. Way after you read this book you'll find yourself thinking about the various characters throughout the series of stories and will find solace in their unwavering faith. The narrators' ability to reflect on their hardships with such serenity is inspiring.



My writing was as flat as a sidewalk. And then I downloaded ...

Mary Duffy's Toolbox for Writers
After I purchased Mary's e-book I started to get 'A's in my essays and term papers! Every page is filled with great writing tips, training lessons, and wonderful useful writing skills! Not only do I write essays for college, but also short stories!
--IVONNIE Indrawan
College student
Sentence Openers on KINDLE

Sentence Openers on NOOK













All my books are now in KINDLE


Ideas About the Novel by Ortega y Gasset - my translation $0.99
Torquemada at the Stake by Perez Galdos- my translation $0.99
Lazarillo of Tormes - my translation $0.99
Dehumanization of Art by Ortega y Gasset - my translation $0.99
Sentence Openers
East of Tiffany's - bestseller $5


The most beloved short story from Spanish literature
All my books are in NOOK $0.99 or in Amazon KINDLE $0.99








All my books are now in NOOK

Ideas About the Novel is a prophetic book that all writers must own.
Ideas About the Novel by Ortega y Gasset - my translation $0.99

Next to Cervantes, Benito Perez Galdos is the most beloved Spanish writer of all times.

Torquemada at the Stake by Perez Galdos- my translation $0.99

Lazarillo of Tormes - my translation $0.99
Read it in contemporary English -- No Thous, Thees, or King James' Bible language.

Dehumanization of Art by Ortega y Gasset - my translation $0.99
The Dehumanization of Art— is now a constant in music, literature, aesthetics, and philosophy, having come to mean that in post-modern times human-shaped mimesis (representation of the human) is irrelevant to art.

Sentence Openers
How writers open their sentences makes prose agile, interesting, and athletic.

East of Tiffany's - bestseller $5
With the city as its backdrop "East of Tiffany's" is filled with earnest tales of love, loss, faith, success and morality.



My writing was as flat as a sidewalk. And then I downloaded ...

Mary Duffy's Toolbox for Writers
After I purchased Mary's e-book I started to get 'A's in my essays and term papers!
--Ivonnie Indrawan
College student
Sentence Openers on KINDLE

Sentence Openers on NOOK





Available in KINDLE $0.99


Available in KINDLE $0.99

Wednesday, September 3, 2008

Ch9 Accounting for Receivables

What is an Account Receivable?
An account receivable is a claim against a customer created by selling merchandise or services on credit.

What is Accounts Receivable Turnover?
The accounts receivable turnover is the relationship between net sales and accounts receivable, computed by dividing the net sales by the average net accounts receivable; it measures how frequently during the year the accounts receivable are being converted to cash.

What is Aging the Receivables?
Aging the receivables means analyzing the accounts receivable and classifying them into groups according to how old or past due they are. The older the account has gone uncollectible the higher the probability that it will not be collected.

What is the Allowance Method?
The allowance method is the method of accounting for uncollectible accounts that provides an expense for uncollectible receivables in advance of their write-off.

What is Contra Asset?The contra asset is an asset offset against another asset.

What is Direct Write-off Method?
The direct write-off method is the method of accounting for uncollectible accounts that recognizes the expense only when accounts are judged to be worthless; it is a method preferred by small businesses.

What is a Dishonored Note Receivable?
A dishonored note receivable is a note that the maker fails to pay on the due date.

What is Maturity Value?
The maturity value is the amount that is due at the maturity or due date of a note.

What is Note Receivable?
The note receivable is a customer’s written document that contains the promise to pay an amount and possibly interest at an agreed-upon rate.

What is Number of Days’ Sales in Receivables?
The number of days’ sales in receivables is the relationship between sales and accounts receivable, computed by dividing the net accounts receivable at the end of the year by the average daily sales.

What is a Promissory Note?
The promissory note is a written and unconditional promise to pay a sum of money on demand or at a definite time.

What is Receivables?
Receivables is the name of the group of all money claims against other entities, including people, business firms, and other organizations.

What is Uncollectible Accounts Expense?
The uncollectible accounts expense is the operating expense incurred because of the failure to collect receivables.

What are the Two Bases of Estimating the Allowance?
The two bases or ways of estimating the allowance are: (1) percentage of sales, and (2) percentage of accounts receivable.

What does Write-Off mean?
Write off means to remove an account receivable that we feel it is worthless.

What do we mean by Trade Receivables?
Trade receivables are created by the sale of merchandise.

Assume the Direct Write Off method is used: How do you write off an uncollectible account receivable?
We write off the uncollectible account by debiting Bad Debts Expense and crediting Accounts Receivable.

Assume the Allowance method is used: How do you write off an uncollectible account receivable?

We write off the uncollectible account by debiting Allowance for Uncollectible Accounts and crediting Accounts Receivable.

What is the formula for Computing Simple Interest?
The formula is:
I = P x R x T
Where
I = interest
P = Principal
R = Rate (which may be expressed as (1) fraction 10/100 (2) decimal .10 (3) percentage 10%, or (4) In words: “Ten per cent.”

Ch1 Accounting in Action

Ch2 Recording Process

Ch3 Adjusting the Accounts

Ch4 Completing the Accounting Cycle

Ch5 Merchandising Operations

Ch6 Inventories

Ch7 Accounting Information Systems

Ch8 Internal Control and Cash

Ch9 Accounting for Receivables

Ch10 PP&E, Natural Resources, and Intangible Assets

Ch11 Current Liabilities and Payroll


Ch12 Partnerships

Ch13 Corporations

Ch14 Corporations:Dividends, RE

Ch15 Long Term Liabilities

Ch16 Investment

Ch17 Statement of Cash Flows

Ch18 Financial Statement Analysis

Plato and Accounting

Price/Earnings Ratio

Plant Assets

Luca Pacioli and DaVinci


The secrets of 'no-doze' prose:
Mary Duffy's Sentence Openers




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Professor Guerrero's Blog

Co-author of East of Tiffany's, 13 short stories that will warm your heart - See 101 reviews in Amazon.com and 37 in Barnes and Noble.

on KINDLE on NOOK

BROWSE: MORE THAN 560 ARTICLES

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