User Account

All Pages

Prepare newton enterprises'' journal entry

Assignment Help Accounting Basics
Reference no: EM13873318

On December 1, Newton Enterprises sells $100,000 of accounts receivable to a factor, receives 85% of the value of the factored accounts, and is charged a 12% commission on the gross amount of the factored accounts receivable. Prepare Newton Enterprises' journal entry.

Reference no: EM13873318

Questions Cloud

Ruby has purchased a new home that needs repair : Ruby has purchased a new home that needs repair. She has gained approval for a home improvement line-of-credit for $100,000 that she will use to fix up the house over three years. Interest on line-of-credit loans is only incurred on the amount borrow..
Raised the maximum amount of short-term funds : The Nelson Company has $1,312,500 in current assets and $525,000 in current liabilities. Its initial inventory level is $375,000, and it will raise funds as additional notes payable and use them to increase inventory. What will be the firm’s quick ra..
Discuss the process that vw is going through in re-inventing : Discuss the ways that CRM systems will be leveraged during the recall process and discuss the ways that Supply Chains are impacted during the recall process
Explain the role and relationships among health care mission : Explain the role and relationships among health care mission
Prepare newton enterprises'' journal entry : Prepare Newton Enterprises' journal entry.
Prepare kasey''s journal entry to record : Prepare Kasey's journal entry to record the credit card sales.
Journal entry of phillips corporation to record the discount : Prepare the journal entry of Phillips Corporation to record the discounted note.
What amount will porter receive at the time lease expires : The deposit will be returned at the expiration of the lease with interest compounded at 4% per year. What amount will Porter receive at the time the lease expires?
How has social media affected are young women? : How has social media affected are young women?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Pan company received proceeds of 160000 on 10-year 8 bonds

pan company received proceeds of 160000 on 10-year 8 bonds issued on january 1 2013. the bonds had a face value of

  Prepare the journal entries for bentz corporation

Bentz Corporation bought and sold several securities during 2006. Listed below is a summary of the transactions. Prepare the journal entries for the above transactions. Show calculations.

  Explain how the british true and fair audit approach or

explain how the british true and fair audit approach or strategy differs from the audit philosophy applied in the

  In eight years kent duncan will retire he is exploring the

in eight years kent duncan will retire. he is exploring the possibility of opening a self-service car wash. the car

  Molly hamilton deposited 50000 at bank of america at 8

molly hamilton deposited 50000 at bank of america at 8 interest compounded quarterly. what is the effective rate apy to

  This is a bargain purchase the sales price is less than the

wanting to finalize a sale before year-end on december 29 wr outfitters sold to bob a warehouse and the land for

  In what ways can management accountants enhance

How are managerial accounting concepts useful for a decision-maker at any level in an organization? Make sure to include different levels of decision-makers in your reply.

  Prepare a journal entry to account for the payment

Prepare a journal entry to account for the payment to the retiring partner including bonus to or from the remaining partners. Include a narration.

  Contribution margin per unit for each chocolate

What is the contribution margin per unit for each chocolate bar produced, given the fact pattern above?

  1 how is the income statement of service company different

1. how is the income statement of a service company different from the income statement of a merchandising company?2.

  Which of the following statements about proposed

which of the following statements regarding proposed regulations is not correct?a. proposed and temporary regulations

  Question 1accrued payroll was 10000 and 15000 at the

question 1accrued payroll was 10000 and 15000 at the beginning and end of 20x4 respectively. the payroll expense for

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd