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!
In order to resolve its cash flow problems, Town Home Company assigned $420,000 of its accounts receivable to Wargo Finance Company on August 1. Town Home received 85% of the assigned accounts receivable less a service charge of 5% of the cash received. Town Home was also charged 14% interest annually on the outstanding loan balance. By August 31, Town Home had collected $276,000, and remitted this amount plus the interest to date on August 31 to Wargo Finance
Required:
a.Prepare journal entries to record the above assignment transactions on Town Home's books.
b.If Town Home collected an additional $50,000 on outstanding accounts and remitted this to Wargo Finance on September 30, how much additional interest must be paid on September 30?
The Word for the study of Values in Philosophy is "Axiology," which has the same root as "Axiom" in mathematics. In Axiology, however, values are studied as to what motivates, inspires, of is responsible for human decision making.
Cresol Corporation has a large number of potential investment opportunities that are acceptable. However, Cresol does not have enough investment funds to invest in all of them. Which calculation would be the best one for Cresol to use to determine..
following is the governemental activities pre-closing trial balance for the town of freaz. freaz is a relatively small
Ethical Code in cost & Management Accounting, CIMA has provided the following as elements of code of conduct to be followed by cost and management accounts. Define and explain them in relation to cost and Management Accounting.
Discuss the need for long-range goals in business organizations and discuss how long-range goals are established.
Booth Financial Services, LLC has two revenue producing departments, Financial Planning and Business Consulting. The accounting department is trying to determine the best method to allocate $1,000,000 of common costs (secretarial staff, reception ..
On January 1, 2013, Roxburgia Company places a commercial storage building in service.
Eau Claire Paper Mill, Inc., had, at the beginning of the current fiscal year, April 1, 2010, retained earnings of $323,325.
4.wheelco a foreign corporation manufactures motorcycles for sale worldwide. wheelco markets its motorcycles in the
Describe the requirements for a change in accounting principle and at least four reasons why companies might implement a change in accounting principle.
If Charming Confections Company charges each division 12% for capital employed, compute residual income for the Peanut and Plain divisions. Compute the ROI for each division.
The subsidiary still possesses 40 percent of this inventory at the current year end. Top had established the transfer price based on its normal markup. What are the consolidated sales and cost of goods sold?
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