User Account

All Pages

Prepare the journal entry that calico corners record

Assignment Help Accounting Basics
Reference no: EM13512094

Calico Corners decides to sell $400,000 of its accounts receivable to First Central Factors Inc. First Central Factors assesses a service charge of 3% of the amount of receivables sold. Prepare the journal entry that Calico Corners makes to record this sale.

Reference no: EM13512094

Questions Cloud

Find frequency of is heard by the driver of the other car : Two cars are each traveling at 27.0 m/s, and they are approaching each other. What frequency of is heard by the driver of the other car
How should these two tracts of land be reported : One tract will be the site of its new manufacturing plant, while the other is being purchased with the hope that it will be sold in the next year at a profit. How should these two tracts of land be reported in the balance sheet?
What is the rate of return of this opportunity : You have an investment opportunity that requires an initial investment of $5000 today and will pay $6000 in one year. What is the rate of return of this opportunity?
Explain the total energy and the molecular partition : Derive the relationship between the total energy and the molecular partition function for indistinguishable particles
Prepare the journal entry that calico corners record : First Central Factors assesses a service charge of 3% of the amount of receivables sold. Prepare the journal entry that Calico Corners makes to record this sale.
State chemist decided to analyze the mixture by dehydrating : A sample is composed of a mixture of CaCO3 and CuSO4*5H2O. A chemist decided to analyze the mixture by dehydrating it by heating it to 120 degrees Celsius for 12 hours. If a 5.327 g sample weighed 4.281 g after dehydration
Age discrimination in employment act : The field of ________ examines the biological, physical and social aspects of the aging process. The Age Discrimination in Employment Act was passed in _____ to protect workers age _____ and above from unfair employment practices based on age.
How the width and height of the bands are inversely related : Find the Fourier transform of the function exp(-πx2/ σ2). Explain how the width and height of the bands are inversely related in the two domains. Why should this be so
Determine the intensity level of the louder sound : The intensity (in W/m2) of one sound is 2.97 times as great as the intensity of another sound. Relative to the quieter sound, what is the intensity level of the louder sound

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the minimum acceptable price

Jeremy's Desks is approached by Mr. Harry Hood, a new customer, to fulfill a large one-time-only special order for a product similar to one offered to regular customers. The following per unit data apply for sales to regular customers.

  What is estimate of the intrinsic value of beranek stock

Assuming a required return of 15.00%, what is your estimate of the intrinsic value of Beranek's stock?

  F 3 acquisition entry and consolidation working paper on

ltbrgt ltbrgt3. acquisition entry and consolidation working paper on january 31 2014 phoenix inc. acquired all of the

  General chemical produced 10000 gallons of greon and 20000

general chemical produced 10000 gallons of greon and 20000 gallons of baron. joint costs incurred in producing the two

  What is the free cash flow for the current year

Net income = 400 , net opening profit after taxes (NOPAT) = 600 , total asset = 2000 and total net operating capital =1800 . the information for the current year is : net income = 900 , net operating profit after taxes (NOPAT)= 800, total assets =..

  In 2013 company a sold inventory costing 100 to its

1 in 2013 company a sold inventory costing 100 to its fully-owned subsidiary company b for 150. the entire inventory

  Problem related to investment decisions

If risk is to be analyzed in a qualitative way, place the following investment decisions in order from the lowest risk to the highest risk:

  Generally accepted accounting principles-operating budget

Explain generally accepted accounting principles applied to the health care industry and how they are applied to your Operating Budget Projection.

  Make a 10- to 15-slide microsoftreg powerpointreg

create a 10- to 15-slide microsoftreg powerpointreg presentation of information about the fictional company you created

  Financial statements and development of audit plan

Auditors obtain knowledge about a new client's business and its industry to understand the events and transactions that may have an effect on the client's financial statements and the development of the audit plan? True/False? Why

  Identify which specific employees should do what

Identify two major control weaknesses in the Family Support Center's cash receipts procedures. For each weakness you identify, suggest a method to correct that weakness. Your solution must be specific-identify which specific employees should do..

  Several topics in taxation

Compare and contrast start-up costs and organizational expenditures. Describe how the tax treatment of these expenditures differs from the treatment for financial accounting purposes.

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