Receivable example sentences

Current Assets are assets held on a short-term basis such as debtors(accounts receivable), bills receivable (notes receivable), stock (inventory), temporary marketable securities, cash and bank balances.The turnover ratios basically exhibit the activity levels characterised by the capacity of the business to make more sales or turnover and include Stock Turnover, Debtors (Receivable) Turnover, Creditors (Payable) Turnover, Working Capital Turnover, Fixed Assets Turnover, and Current asset Turnover.Current assets include interest accrued on investments, inventories, sundry debtors, bills receivables, cash and bank balances, and other advances like prepaid expenses, etc.This balance on any date would represent the amount of bills receivable unmatured and on hand.Bills receivables are assets and Bills payable are liabilities.None of the receivable income and payable expense is to be entered in this account as they do not involve inflow or outflow of cash.An important point in connection with bill receivables and bills payable books is that they only record the transactions relating to drawing and acceptance of bills, all other transactions do not record the entire range of transactions relating to the bills, e.g. relating to bills discounted, endorsement, retirement, renewal etc.The figureures of various accounts such as cash in hand, cash at bank, bills receivable, sundry debtors, fixed assets, etc.This is known as working capital of an enterprise, which is used for holding current assets such as stock of material, bills receivables and for meeting current expenses like salaries, wages, taxes, and rent.It may be noted that all assets expenses and receivables account shall have debit balances whereas all liabilities, revenues and payables accounts shall have credit balances.The bills receivable book, like any other subsidiary book, is totaled periodically.Missing figureures about purchases, sales, debtors and creditors can be obtained by preparing proforma accounts of debtors, creditors, bills receivable and bills payable using the logic of double entry system.Short-term financing is most common for financing of current assets such as accounts receivable and inventories.A business, for example, can generate funds internally by accelerating collection of receivables, disposing of surplus inventories and ploughing back its profit.Quite often, while all details relating to bills receivable and bills payable are available but the figureures of the bills received and bills accepted during the year are not given.