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Question:
A. On June 30, 2011, Barbie Company was considering options to bolster its cash position. Choice One called for transferring $400,000 in accounts receivables to ABC Finance Company without recourse for a 5% fee. Option Two calls for Barbie to transfer the $400,000 in receivables to ABC with recourse. ABC charges a 4% fee for receivables factored with recourse. Choice Two meets the conditions to be considered a sale, but Barbie estimates a $3,000 recourse liability. Under either option, ABC will immediately remit 90% of the factored receivables to Barbie, and retain 10%. When ABC collects the remaining receivables, it remits the amount, less the fee, to Barbie. Barbie estimates that the fair value of the final 10% of the receivables is $25,000 (ignoring the factoring fee).
a. Prepare any essential journal entry or entries if receivables are factored under Option One.
b. Prepare any essential journal entry or entries if receivables are factored under Option Two.
Identify the internal control strengths in PEI's system and identify the internal control weaknesses in PEI's system, and suggest ways to correct them.
Create journal entries to record the above transactions and events of Kash Company.
TQM, ABC, JIT, 80/20, XYZ and are there any other initials I should know about to get a handle on inventory control and its relationship to profit," your client asks. Your client owns a medium sized manufacturing concern and keeps hearing all thes..
What will be the effect of the price increase on the firm's FCF for the year?
Evaluate a consolidated statements workpaper
Deana, Inc. purchased merchandise for $500,000, received credit for purchase returns of $25,000, took purchase discounts of $10,000, and paid transportation in of $20,000. Refer to Deana, Inc. If Deana, Inc. had $20,000 in beginning inventory.
yummy-pop ltd makes lollipops in two sizes large and giant. the company sells these lollipops to convenience stores
what is Capital's after-tax WACC and what balance could appear in the investment in Holister account as of December 31, 2009?
What are the two approaches to accounting for inventory that were covered in the course and which inventory method is the bookshop using and which method is the fruit and vegetable stall using?
a. Compute the break-even IBM stock price for each option (i.e., the stock price at which your total profit from buying and then exercising the option would be 0).
Alpine Inc. uses job order costing for its brand new line of sewing machines. The cost incurred for production during 2014 totaled $20,000 of materials, $8,000 of direct labor costs, and $8,000 of manufacturing overhead applied.
write a report explaining this abnormal trend between the net income and the cash flow numbers and whether this should be a red flag to investors and creditors.
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