Trade or Nontrade Receivables/Current or Noncurrent Assets

Question 1

Accounts Receivable

Answer 1

Trade, Current

Question 2

Subscription receivable to be collected on May 2024

Answer 2

Nontrade, Current

Question 3

Installment receivable

Answer 3

Trade, Current

Question 4

Advances to employees and officers

Answer 4

Nontrade, Current

Question 5

Loans or advances to affiliates or other parties

Answer 5

Nontrade, Noncurrent

Question 6

Loans receivables of a merchandising entity collectible within 4 months

Answer 6

Nontrade, Current
-a merchandising entity is not a financial institution.

Question 7

Claims of damages against other entities

Answer 7

Nontrade, Current

Question 8

Notes receivables (general)

Answer 8

Trade, Current

Question 9

Notes receivable from an employee who was granted a loan by the entity (collectible within 2 years)

Answer 9

Nontrade, Noncurrent
-the notes receivable is of an advance to an employee making it a non trade receivable

Question 10

Loans receivable of financial institutions like banks and lending companies

Answer 10

Trade, Current

Question 11

Advances to suppliers

Answer 11

Nontrade, Current

Question 12

Notes receivable from selling land, building, equipment, and machinery collectible within 1 year

Answer 12

Nontrade, Current

Question 13

Notes receivable from selling inventories

Answer 13

Trade, Current

Question 14

Accrued other income

Answer 14

Nontrade, Current

Question 15

Advances to executives

Answer 15

Nontrade, Current

Question 16

Accounts receivable from employees

Answer 16

Trade, Current

Question 17

Accounts receivables which postdated checks were received

Answer 17

Trade, Current

Question 18

Advances to subsidiary

Answer 18

Nontrade, Noncurrent

Question 19

Notes receivable arising from lending funds (due in 2024)

Answer 19

Nontrade, Current

Question 20

Interest receivable

Answer 20

Nontrade, Current

Question 21

Debit balances in suppliers’ accounts

Answer 21

Nontrade, Current