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CD has annual sales revenue of $2,007,500 and trade receivables of $330,000 which represent 60 days' sales based on a 365 day year. Sales and trade receivables are expected to continue at the same level for the next year. CD pays interest on its overdraft at a rate of 10% per annum.
CD is considering the use of non-recourse factoring to manage its trade receivables. The factor will pay 80% of the trade receivable when a credit sale is made and the remaining 20% when the cash is received from the customer. It is estimated that, as a result of the factor's expertise, cash will be received from customers in 50 days. The factor will charge interest at a rate of 12% per annum on cash advanced and a fee of 2% of annual sales revenue. CD estimates that credit control costs will be reduced by $30,000 each year if the factor is used. Calculate whether it is financially beneficial for the company to use the factor.
The expected costs for direct materials, direct labor and manufacturing overhead: Direct material, including schedule of expected cash disbursements with calculations
Campo Systems reported the following financial data (in millions) in its annual report: for 2015 income 8,052 net sales 52,250 net assets 56,734 for 2016 net income 7,250 net sales 36,117 net assets 68,128 if the company’s total assets are $55,676 in..
Provide a paragraph summarizing the key points of Meritor v. Vinson. What was the legal issue for Meritor v. Vinson? What did the court decide?. What new (for that time period) legal standard/definition did the case set regarding sexual harassment?. ..
Kurena Company provided the following information on one of its factories: Maximum units produced in a quarter: 180,000 units. Calculate the amount of processing time per unit and the amount of time per unit. Calculate the MCE.
For a particular stock, the old price is $24, the ex-rights price is $20, and the number of rights needed to buy a new share is 2.5. Assuming everything else is constant, what is the subscription price?
1. Prepare a table with the following column headings: Employee, Cumulative Pay, Pay subject to FICA Social Security Taxes, Pay subject to FICA Medicare Taxes, Pay subject to FUTA taxes, Pay subject to SUTA taxes. Compute the amounts in this table fo..
ACC 200-06 Introduction to Financial Accounting Assignment. What amount of cash did Platt pay for interest in 2017? What is the amount of warranty expense
What should be the depreciation expense on this machine for the year ended December 31, year 3?
How would you support Denny's view? How would you support Austin's view?
The new patent will protect the value of the old one only for a 4 year period. Illustrate what are the adjusting journal entries
Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials—1 pound plastic at $6 per pound $ 6.00 Direct labor—2.50 hours at $12.05 per hour 30.13 Variable manufacturing overhead 18.75 Fixe..
As the forensic accountant hired by the U.S. Justice Department to litigate this case, answer the following: What documents will you seek during discovery to address the whistle-blower’s allegations?
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