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The Mountain High Ice Cream Company transferred $50,000 of accounts receivable to Prudential Bank. The transfer was made without resource. Prudential Bank remits 90% of the factored amount to Mountain High and retains 10%. When the bank collects the receivables, it will remit to Mountain High the retained amount less a 2% fee (2% of the total factored amount). Prepare the journal entry to record the transfer on the books of Mountain High assuming that the sale criteria is met.
The exercise price on one of Nice Co’s call options is $20, its exercise value is $31, and its premium is $7. Illustrate what are the option’s market value and the stock’s current price?
David Corporation uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 20,000 units in its beginning work in process inventory that were 80% complete with resp..
Inspection Time is generally considered to be non-value-added time. Operating assets include cash, accounts receivable, and inventory but not any depreciable fixed assets.
The Wolf Appliance Co. provides a 120-day parts-and-labor warranty on all merchandise it sells. Show the effects of these transactions on the financial statements using a horizontal statements model like the example shown here. Use a + to indicate i..
Logan Corporation has 30 employees, 10 in "A-line," and 20 in "B-line.” Logan incurred $180,000 in fringe benefits costs last year. How much in fringe benefit costs should be allocated to "A-line"?
Prepare a revised aging schedule showing ages of the accounts receivable after the write-offs. Be very careful with your dates. [Hint: Be sure to reflect the write-offs taken in E above, in the correct age category].
Income Taxation: Sean owns stock in the McGee Corporation. Sean has a basis in the stock of $100. Which of the following would not be included in Sean's income?
Do you think the code of ethic for management accountant will be effective in an organization? Were you surprised by any of the points covered in the code? If so, why?
Explain the relationship between a profession and a code of ethics and deescribe what a code of ethics/conduct/ professional behavior is and why is it important
Use the following information from Blue-Cross Inc 2014 annual report to calculate the dividend yield on common stock and the payout ratios. Then comment on the results. Safeway Company acquired 75 percent of the outstanding voting common stock of Gia..
Coronado Biotech enters into a licensing agreement with Pang Pharmaceutical for a drug under development. Coronado will receive a payment of $7,600,000 if the drug receives regulatory approval. Based on prior experience in the drug-approval process, ..
Financial statement analysis - Is application of analytical tools to general-purpose financial statements and associated data for making business decisions.
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