Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Beyoncé Corporation factors $175,000 of accounts receivable with Kathleen Battle Financing, Inc. on a with recourse basis. Kathleen Battle Financing will collect the receivables. The receivables records are transferred to Kathleen Battle Financing on August 15, 2014.
Kathleen Battle Financing assesses a finance charge of 2% of the amount of accounts receivable and also reserves an amount equal to 4% of accounts receivable to cover probable adjustments.
Assume that the conditions are met for the transfer of receivables with recourse to be accounted for as a sale. Prepare the journal entry on August 15, 2014, for Beyoncé to record the sale of receivables, assuming the recourse liability has a fair value of $2,000
Many public universities are quite similar to their private counterparts. Indeed, some large state universities receive less than 25 percent of their resources from the state. How, then, can you account for the substantial differences in their rep..
a company pays its insurance on an annual basis. the insurance premiums are 18000 per year. the insurance coverage
how does a less-than-optimal use of company funds compare with the perceived need to maintain a record of increasing
At the end of 2011, Tatum Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $28,000. On January 24, 2012, it is learned that the company's receivable from Novinger Inc-Make the journal entries to record the payment.
Assume that you are part of the audit team and assess a client's audit risk as high. Suggest what procedure the audit team should implement to reduce the risk to the firm.
Jeremy reported net income of $50,000 for 2003. Non-controlling interest income that will appear in the consolidated income statement for 2003 is:
Manufacturing overhead for the period is budgeted at $135,000, of which 20 percent is fixed. The 17,200 hours worked during the period resulted in production of 8,500 units. Manufacturing overhead cost incurred was $136,500.Calculate the following..
a firm has the ability to invest in a cost saving process that will save them 100000 per year for the next 25 years.
California Wines offers credit terms of 2/5, net 25. What is the effective annual rate on a $8,000 purchase of wines if you forgo the discount?
a companys standard for a unit of its single product is 6 per unit in variable overhead 4 hours x 1.50 per hour. actual
on january 1 2012 palmer company leased equipment to woods corporation. the following information pertains to this
Second Baptist would start a church school; and Baker would open a car dealership. If you are the financial adviser for the school district, which offer would you prefer? Why?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd