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10-K - 10-K - EMPERIAL AMERICAS, INCv308936_10k.htm
XML - IDEA: XBRL DOCUMENT - EMPERIAL AMERICAS, INCR9.htm
EX-31.1 - EXHIBIT 31-1 - EMPERIAL AMERICAS, INCv308936_ex31-1.htm
EX-32.1 - EXHIBIT 32-1 - EMPERIAL AMERICAS, INCv308936_ex32-1.htm
EXCEL - IDEA: XBRL DOCUMENT - EMPERIAL AMERICAS, INCFinancial_Report.xls
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v2.4.0.6
ACCOUNTS RECEIVABLE and OFFSETTING PAYABLES
12 Months Ended
Dec. 31, 2011
ACCOUNTS RECEIVABLE and OFFSETTING PAYABLES

NOTE 7 - ACCOUNTS RECEIVABLE and OFFSETTING PAYABLES

 

Accounts receivable reflects net funds due the company for its services and gross funds due the company and which are offset by any funds any due to the insured. These “net” receivables are offset by related commission payments to adjusting agents. The insured clients and adjusting agents are not paid until the company has received appropriate compensation. Related balances at December 31, 2010 and December 31, 2009 were:

  

    December
31,
    December
31,
 
    2010     2011  
             
Total funds receivable   $ 69,100     $ 84,860  
Payable to insured     (12,645 )     (24,591 )
Payable to adjusting agents     (37,389 )     (15,180 )
Net   $ 19,066     $ 45,089  

 

Allowances for doubtful accounts for the periods ended December 31, 2010 and December 31, 2009 were $ 5,722 and $ 5,722 respectively. This allowance is net of offsetting payables to insured clients, adjusting agents and related expenses.