EARNING CAPACITY, LOSS OF Definition

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EARNING CAPACITY, LOSS OF 'Loss of earning capacity' means the difference between the worker's net average earnings before the incident, and the net average amount of wages the deciding body determines the worker is capable of earning after the incident.

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CAPITAL RECEIPTS is proceeds from the sale of capital assets. They may be used to finance new capital expenditure or repay existing loan debt. Receipts available to finance capital expenditure in future years are normally held in the usable capital receipts reserve.

WORKING TRIAL BALANCE is similar to the trial balance. Additionally, it contains columns for adjusting entries and the adjusted balance. This report is typically used at year-end to assist in making adjusting entries.

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