This ratio is used to assess the liquidity of the receivables. Calculate the acid-test ratio, assuming that cash + accounts receivable = $50,000, merchandise inventory = $10,000, noncurrent assets = $40,000, current liabilities = $20,000, noncurrent liabilities = $50,000, and stockholders' equity = $30,000. Quick Tips to Prepare for Divorce: Open a checking account and savings account in your name alone. Ct. (2) All interests of the debtor and the debtor’s spouse in community property as of. Contact an experienced family law attorney today by calling the law offices of DeShon Laraye Pullen PLC at 602-252-1968. In the second formula, we need to find out the average accounts receivable per day (meaning average accounts receivable divided by 365) and the average credit sales per day (meaning average credit sales divided by 365). If you can't agree on a way to split up your collection fairly, your. If you have questions about sharing a personal injury settlement in an Arizona divorce. True False; The average days to collect accounts receivable is measured as 365 divided by the accounts receivable. Inventory turns. So, what happens to omitted assets in an Arizona divorce decree. O dividing accounts receivable by net sales and multiplying by 365. Is calculated by dividing sales by accounts receivable E. c. Arizona Revised Statute §25-901 through 25-906: These Arizona statutes govern Covenant Marriage. To calculate days sales uncollected, divide accounts receivable by the net annual credit sales of the business, and then multiply by 365. We want to talk to you about dividing retirement accounts in a divorce in Arizona. There is no simple answer to whether you should remove money from your joint bank accounts prior to filing a divorce. However, a mere expectation to receive money is not divided in a divorce. The answer to the question of choosing a date to value assets in an Arizona divorce really depends upon nature of the asset being divided. However, a question did remain regarding the negative value given the Stanford Drive property of $1,534. Operating Cycle. Additionally, Arizona’s divorce law. Many doctors are surprised to learn that their practice of medicine may be valued in a divorce even if you work for an employer and do not actually have your own separate medical. Pfeffer held that a creditor might come after community assets but usually cannot come after the separate property of a spouse to pay a community debt. One of the concerns raised is whether the other spouse will clear out all of the money in a bank account. Example of Days Sales Uncollected. This means that cash receipts from customers are delayed until accounts receivable are collected. D. Monahan responds that any defect was cured when Mr. That means the average accounts receivable for the period came to $51,000 ($102,000 / 2). R. Just like your assets, it is critical to ensure. Conversely, this creates an asset for the seller, which is called accounts receivable. 3d 1082 (1999), the appellate court considered a promissory note signed only by one spouse. The average. A judge will divide a divorcing couple's property and debts, unless the couple is able to reach a settlement agreement. Equitable distribution is a method of dividing property at the time of divorce. In order to be eligible to divorce in Arizona, you or your spouse must have lived in the state for a minimum of 90 days prior to filing court forms to dissolve your marriage. An Equal Distribution of Community Assets is Required in Most Cases. When valuing a residence for sale, especially during a divorce, it is important to be realistic. Definition. maintain adequate records. Arizona’s community property laws also apply to debts. If you have questions about the division of deferred retirement option plans in an Arizona divorce case, you should seriously consider contacting the attorneys at Hildebrand Law, PC. Your artwork and collectibles. If annual credit sales are $8. In community property states, each party is responsible for 50% of the debt from a joint credit card account. This indicates that the business collects its receivables 13. If you are getting a divorce where each spouse has a separate bank account, it will most likely still be considered community. During the current year, the loss on the disposal of this component of the business was $150,000 less applicable taxes. divide responsibilities 2. How much each customer has purchased on credit. § 518. O multiplying accounts receivable by net sales and dividing by 365. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. This is true, regardless of the spouses’ respective financial contributions. Additionally, ASC 310-10-50-4 requires reporting entities to disclose the allowance for credit losses (i. Terms in this set (30) Early stage financing is typically:. This is considered a short-term. Net receivables is often expressed as a percentage, and a higher. 1. accounting. e. However, the law says that if the property is taken and held as community property or in joint tenancy, the spouse investing separate funds loses all. McClennen’s capital account was valued at $11,428. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. This Order allows the financial institutions to divide the community’s portion of the account without penalties and without creating a taxable event. It is crucial to talk to an experienced Arizona family. The answer to the question can a business owners accounts receivable be divided in a divorce in Arizona is a big fat “maybe”. The simple answer is, yes,. The days' sales uncollected ratio, one measure reflecting company liquidity, is computed by dividing the ending balance of receivables by annual net sales, and. A. The Arizona Court of Appeals in the case of Schickner v. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. Let's say that at the beginning of a fiscal year, company ABC had accounts receivable outstanding of $46,000. B. One of the options to collect a judgment is known as a garnishment, by which a money judgment may be. By Logan Allec. 97. This is going to mitigate some of those hard feelings your spouse may have about your decision to remove money from financial accounts. Assigning accounts receivable. C. / / 5 FAQs About Dividing Retirement Accounts in an Illinois Divorce. R. Users want to know how quickly a company can convert its accounts receivable into cash. The receivable turnover ratio calculates the number of times in an operating cycle (normally one year) the company collects its receivable balance. Ann. Here is the accounts. If you need assistance filing for divorce, have been served with divorce papers, or have any other questions, our Arizona divorce attorneys at Cohen Family Law can help you. A divorce decree was issued dissolving the parties’ marriage, dividing their marital assets, and awarding Wife spousal maintenance of $600 for 120 months. 4. CIT Bank is a solid option if you’re looking for a high-interest savings account with no monthly fees. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. On a company's balance sheet, accounts receivable are the money owed to that company by entities outside of the company. The Arizona Court of Appeal in a memorandum decision discussed the relationship between the division of debts and spousal maintenance in an Arizona divorce in the case of Carroll vs. 00. Carroll. The division of assets upon termination of the marriage (either by divorce or at death) is another important part of a prenuptial agreement. Contact Information 602-266-1313. California Code, Financial Code - FIN § 22800. In Van Loan v. Interest was to begin sixty days after the original decree was entered. D. 58 (4). Thank you to the authors at Derr&Villarreal LLC for providing insight into divorce litigation and personal injury law. A judge will divide a divorcing couple’s property and debts, unless the couple is able to reach a settlement agreement. The husband admitted in a verified answer that the retirement account was community property. Business Accounting Dividing net sales on account by the average amount of net accounts receivable is the calculation for the a. 4. If a separate bank account existed before a marriage began and money was neither added to it nor taken out of it, then it is. Failure to consider tax consequences when dividing community property in Arizona can result in an unfair and inequitable. B. Separate, Joint, and Community Debts in Arizona. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. We have many attorney offices with family and divorce lawyer in Phoenix and surrounding areas. 2d 818 (1970), the Arizona Supreme Court considered several quitclaim deeds a spouse signed. Study with Quizlet and memorize flashcards containing terms like Accounts receivable turnover is calculated using the following formula: Multiple choice question. claims of waste in an arizona divorce; dividing accounts receivable in a divorce in arizona; the importance of title searches on the marital home during a divorce;. In Van Loan v. Splitting up an annuity can involve complicated financial calculations. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. Barron addressed those issues. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. The accounts represent all outstanding accounts of the assignor from the sale of products or services. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. Divorce is the final, legal ending of a marriage by court order. Barron addressed those issues. Business: A business, along with the property owned by that business, including accounts receivable, is an asset. a. Taxes and Child Support in Arizona. Net Sales Efficiency. Your net credit sales are the revenues your business generates on credit, less any returns. Accounts receivable, net of allowance for doubtful accounts P950,000. The primary four factors typically considered in assessing the fair market value of a business in the context of divorce include: (i) the value of the business's fixed assets; (ii) the value of the business's accounts receivable and other intangible assets; (iii) the business's goodwill; and (iv) the business's outstanding debts and liabilities. Christy Bieber, J. Let’s talk about CRSC pay and divorce in Arizona. A judge will divide a divorcing couple's property and debts, unless the couple is able to reach a settlement agreement. Just like your assets, it is critical to ensure that you identify all debts that are subject to division in your divorce. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. In the case of Howell v. The Arizona rule — pronounced in a 1926 case and consistently followed – was that any amounts of money recovered for injuries to one spouse during the marriage are community property. ) In a divorce you must determine whether assets are marital and nonmarital. g. 'Til Divorce Do Us Part. They can be the most valuable thing that married couples own. Accounts receivable (AR) are funds the company expects to receive from customers and partners. Kroncke was the administrator of his father’s estate (the “Estate”) and requested the. Apply to Accounts Receivable Clerk, Manager in Training, Front Desk Manager and more!Accounts receivable (AR) are the sum of money a company is owed by customers for purchases made on credit. The goods and services have been provided but not yet paid for. Is used to evaluate the liquidity of receivables. This means that any properties and other assets acquired during the marriage are split 50/50 during the divorce. Absent a prenuptial agreement, state law defines how assets are divided upon divorce. The exception to this general rule would occur if both spouses signed, for example, a. AR is listed as a current asset on the balance sheet. As another example, imagine a company has $30,000 in net credit sales, $5,000 in accounts. Dep’t of Agriculture (Lawyers Weekly No. The Arizona Court of Appeals in another appeal in the case of Barron v. Otherwise, decisions on property division, also known. (Getty. Study with Quizlet and memorize flashcards containing terms like Examples of performing financial statement analysis:, Dividing sales on account by the average accounts receivable balance for the year is the calculation of the. Divorcing couples in Arizona must reach an agreeable arrangement on how to divide their assets and debt. Marital Property (i. A. return on total assets. The estimated additional pay is $2,820. One example is making a new spouse an account holder on your prior bank account, which turns it into a joint bank account. Learn About the Division of Deferred Retirement Option Plans in an Arizona Divorce. Operations D. a company sells $900,000 of accounts receivable to factor for cash less a 2% service charge. B. Community property is required to be divided during the divorce process. In a divorce, community property is generally divided equitably — roughly, though not necessarily exactly, equal — between the spouses, while each spouse keeps. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a. If you want to offer trade credit to new and existing customers, here are some steps to get started. The law says that community property and debt should be divided "just and right" when you get divorced. As a reminder, this ratio helps you look at the effectiveness of your credit, as your. Arizona Divorce Rules and Property Division. Accounting questions and answers. Bell-Kilbourn made a decision regarding the effect of a Disclaimer Deed in a divorce in Arizona. Disposition. 4. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. The quick ratio measures a company's liquidity by looking only at a company's most liquid assets and dividing them by current liabilities. Arizona law specifies that a trust deed on community property is not valid unless both spouses execute and acknowledge it. Arizona Revised Statute §25-312: This statute lists all the criteria necessary for a divorce to be entered in. The days' sales uncollected ratio: A. 2What to does if your your are hides your in a divorce the Arias From Hildebrand Law, PC. This means both spouses agree to the divorce and can come to. Call us today at (480)305-8300 or reach out to us through. Think of when you sell a product and invoice a customer. Mother was awarded her costs on appeal (A. R. A garnishment is a legal process by which one party may collect money from another party, after a money judgment has been entered. A prenuptial agreement is a marriage agreement that outlines the financial and property rights of a couple should they ever divorce. Adam Ramirez, J. These estimates include the following divorce expenses: Cost of paying an attorney to draft the initial Petition for Dissolution of Marriage; Divorce court filing fees;Current assets is a balance sheet account that represents the value of all assets that can reasonably expect to be converted into cash within one year. But generally speaking, if your spouse hides assets, they may be required to pay a fine, return the hidden. ACCOUNTING 124. Hawaii Accounts Receivable — Assignment refers to the process of transferring or selling. With an estimated 35% to 50% of marriages in the U. "Quick" assets are cash, stocks and bonds, and accounts receivable (i. This article explains what you can expect from. Types of Debt in an Arizona Divorce. Our family law firm has earned numerous awards such as US News and World Reports Best Arizona Family Law Firm, US News and World Report Best Divorce Attorneys, “Best of the Valley” by Arizona Foothills readers, and “Best Arizona Divorce Law Firms” by North Scottsdale Magazine. During a divorce in Arizona, the equity is often relied upon as a bank account in the property settlement, and to start your new life. Net receivables is the total money owed to a company by its customers minus the money owed that will likely never be paid. So, any debts incurred during marriage are, generally, community debts and will be equally divided in an Arizona divorce or legal separation. or average age of accounts receivable, is useful in evaluating credit and collection policies. Dividing accounts receivable by net sales and multiplying the result by 365 is the: Days' sales uncollected. A money judgment is an order signed by a judicial officer that awards money to one party against another party. At trial, the court issued orders dividing the husband’s military retirement between the two spouses. It measures the number of times, on average, receivables are collected during the period. Many homeowners are tied to a number that is based on emotion or their financial investment. 115,000. The court, coincidentally, also ordered the husband to. Grace pays for those services on March 20. "We hold that the trial court properly excluded from the marital estate the value of the three properties at issue. The Long Answer. Many people ask is Arizona a 50 50 state in a divorce. An auditor discovered that a client's accounts receivable turnover is substantially lower for the current year than for the prior year. Learn if Disability Pay is Community Property in Arizona From the Experenced Divorce Attorneys at Hildebrand Law, PC. The laws are different in every state, so it is advisable to consult a divorce attorney when dividing your retirement accounts, and you should also consult federal tax laws relating to the division of a retirement account. Interest C. Measures how much time is likely to pass before a company receives cash receipts from credit sales equal to the current amount of accounts receivable. 00. Separate Debts Paid Off With Community Funds. As already mentioned, accounts receivable is the asset account of a business that describes the money customers owe your business. Determine the number of days that have passed w/o collecting on. Dividing average accounts receivable. In Barron, Husband requested an equalization payment from Wife. A measure of the firm's ability to meet its annual interest payments. C. Retirement Accounts. Finished goods. Barron addressed whether there was a defense to such a claim in a divorce. Call the Family Law Team at (480) 467-4348 to. Dividing 365 by the accounts receivable turnover ratio yields the accounts receivable turnover in days, which gives the average number of days it takes. apply technological controls 4. This can include behavior like gambling away all the. Study with Quizlet and memorize flashcards containing terms like . 1984), the Arizona Court of Appeals discussed whether legal contingency fees (that is, legal fees that are a percentage-of-recovery) earned by an attorney/spouse after his marriage ended are his alone or community property, when much of the work on the case was accomplished during the. Divorce attorneys may not understand the impact of dividing annuities. Those commonly mentioned are child custody and visitation. In all cases, when a credit account is held jointly, you can’t remove yourself from the account. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. You can open all your accounts here. By dividing the effort, you optimize each person’s time spent on this important activity. Unfortunately, annuities are not like other marital assets which can be divided readily between both spouses. Accounts Receivable (AR) is the proceeds or payment which the company will receive from its customers who have purchased its goods & services on credit. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. To find their accounts receivable turnover ratio, Centerfield divided its net credit sales ($250,000) by its average accounts receivable. b. Operations Management questions and answers. equals total assets minus current assets divided by average inventory. If you have. 272 (1977), the Arizona Supreme Court considered whether a military pension is a property right or an expectation for divorce purposes if the military spouse has not – at the time of the divorce – completed the years of service necessary to claim it. The amount each spouse receives of the pension depends upon: How much of the pension was earned by the employee spouse before marriage or after service of the. Its accounts receivable balance averaged $2 million. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. 5 Revere Drive, Suite 200 Northbrook, IL 60062. In Arizona, professional goodwill is valued as a community asset. S. Accounting questions and answers. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. For military members. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. is calculated by dividing accounts receivable by net sales. It noted that, under Arizona law, it is the superior court’s job in a divorce to divide all community property held by a couple. Reviewed By. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. A process of classifying accounts receivable in terms of how long they have been outstanding for the purpose of estimating the amount of uncollectible accounts. The accounts represent all outstanding accounts of the assignor from the sale of products or services. The disclaimer deed in that divorce was signed on a home purchased during an Arizona marriage. To calculate the accounts receivable turnover, you would divide: sales by the average accounts receivable. there was an improper cutoff of sales at the end of the year. Delay in Dividing Assets Omitted in a Divorce Decree Is Not a Waiver. Current liability turnover ratio. ) 4th Cir. This may indicate that: A. c. The AR Turnover Ratio is calculated by dividing net sales by average account receivables. Credit card companies aren’t bound by divorce decrees, so they can go after you for jointly incurred debt if your former spouse doesn’t pay. John Howell and Sandra Howell divorced in 1991. . AR are considered a current asset since they will be cash within one year or less. During a divorce in Arizona, the equity is often relied upon as a bank account in the property settlement, and to start your new life. debt-to-asset ratio. Is a Spouse’s Separate Property Liable for Community Debts. ANS:B. The beginning accounts receivable balance is the same figure as the ending accounts receivable balance from the prior period. Winters, 298 P. If you were to sell the house while you are still married, the $300k capital gain would fall under the marriage exclusion of up to 500k and be tax-free. Separate property in Arizona is classified as any property owned by a spouse before marriage or any property owned by a spouse after a divorce decree has been finalized. Accounting. Accounts payable. Order a free credit report. S. To determine the average collection period, divide 365 days by the accounts receivable turnover ratio. Any community property that is not mentioned in a divorce decree is transformed into property held as tenants in common. 35 million, what is the company's balance sheet amount in accounts receivable?. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. Divide net credit sales by your average accounts receivable. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. Divvying up artwork and collectibles can be tricky because of the sentimental value involved. Unlike some community property states, Arizona does. The accounts receivable turnover ratio (also known as the receivables turnover ratio) is an accounting metric that quantifies how efficiently a company collects its receivables from customers or clients. Bell-Kilbourn made a decision regarding the effect of a Disclaimer Deed in a divorce in Arizona. The. This form is an Assignment of Accounts Receivable. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. The Arizona Court of Appeals affirmed the ruling of the lower court. This form is an Assignment of Accounts Receivable. pricing is. The Cost of Health Insurance for a Child May be Tax Deductible. e. Keeping your money in separate bank accounts may help you reduce disagreements with your spouse over what you choose to spend money on, but it offers little legal protection if you decide to divorce. The first is identification. The estimated total pay for a Accounts Receivable is $45,842 per year in the Arizona area, with an average salary of $43,022 per year. Net income divided by average total assets is. Ending a lengthy marriage, on the other hand, may mean essentially splitting a 401 (k) fund in half, even if the account was accumulated only in one spouse’s name. Measuring the number of times that accounts receivables are turned into cash during a given period, the ratio is essentially a lens. Section 25-215, “Liability of community property and separate property for the community and separate debts,” states in pertinent part:. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. A divorce decree in Arizona is intended to divide all community property between the spouses. 42 days. choosing a valuation date when dividing assets in a divorce in arizona; can a spouse be held liable for credit card debt in arizona; calculating a community lien on a depreciating asset in arizona; effect of a disclaimer deed or quit claim deed in a divorce in arizona; bank accounts and divorce in arizona; dividing paid time off in a divorce in. average earnings per share b. Finally, the court decided the remaining money will be divided equally between the husband and the wife. Unum long-term care insurance Website. Scottsdale, Arizona 85260. Underestimating Your Post-Divorce Expenses. cash for $480 & service charge expense for $20. Measures a company's ability to pay its bills on time. spent or used, as with money or energy. is used to evaluate the liquidity of receivables Question 28 Just before Arugone Funeral Homes Inc. Accounts receivable are assets, as expected customer payments; accounts payable are liabilities, as money owed to another business. Inventory turnover is defined as: A. This can mean giving one spouse more property if the other has wasted or disposed of. If you have questions about division of retirement accounts in an Arizona divorce case, you should seriously consider contacting the attorneys at Hildebrand Law, PC. Property settlements are just one issue that has to be resolved in the divorce process. Accounts receivable is an asset. Katrina Munichiello. b. From our office in Phoenix, we routinely handle all aspects of family law for clients throughout Arizona and pride. The second equation divides 365 days by your accounts receivable turnover ratio. The parties were going through a divorce in Arizona. m. The trial court limited her obligation to the extent of the community property she received in the divorce. 2. For military members. 31 days. § 25-318, that allows a judge to order the sale of the property as part of a divorce decree. Non-Divisible. § 518.