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Floppy Corp. factored $600,000 of accounts receivable to Floozy Corp. on October 1, 2015. Control was surrendered by Floppy. Floozy accepted the receivables subject to recourse for non payment. Floozy assessed a fee of 3% and retains a holdback equal to 2% of the accounts receivable. In addition, Floozy charged 15% interest computed on a weighted-average time to maturity of the receivables of fifty-four days. The fair value of the recourse obligation is $9,000. Floppy will record: a. cash of b. a loss of
Based on your research and understanding, what are the apparent opportunities/benefits and challenges/limitations of for reporting entities?
calculation of cost of goods sold in perpetual inventory system.the following information has been taken from the
warner company started business on january 1 2011. the following transactions and events occurred in 2011 and 2012. for
How might Bernhardt Appliance’s management use its accounts receivable and notes receivable to raise the cash it needs? What are the company’s prospects for raising the needed cash?
On January 1, 2014, Park Corporation sold a $604,000, 10 percent bond issue (12 percent market rate). The company does not use a discount account. The bonds were dated January 1, 2014, pay interest each June 30 and December 31, and mature in five yea..
Draber Restaurant accepted a Visa card in payment of a $400 lunch bill. The bank charges a 4% fee. What entry should Draber make.
Management has offered to allow the prevention changes if all changes take place as anticipated and the amounts netted are less than the cost of the equipment. What is net impact of all the changes created by the preventive changes?
Finally, determine why there is a change in WACC and explain the impact of the components of capital structure on a company’s cost of capital.
In tabular format, recreate the master budget and prepare the flexible budget and determine the sales-volume variance, sales price variance, and the total fixed cost variance.
the ledger of mesa corporation at december 31st of current year containsnet sales - 1500000cost of goods sold -
The Chambers Manufacturing Company recorded overhead costs of $16,468 at an activity level of 5,100 machine hours and $10,017 at 2,400 machine hours. The records also indicated that overhead of $10,078 was incurred at 3,050 machine hours. What is the..
Star Corporation issued both common and preferred stock during 20X6. The stockholders' equity sections of the company's balance sheets at the end of 20X6 and 20X5 follow.
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