User Account

All Pages

What amounts should be recorded for the accounts

Assignment Help Accounting Basics
Reference no: EM131807821

Alpha Company sells goods to customers who use Worldwide Express nonbank credit cards. Credit card sales on July 15, 2016 amounted to $30,000 and were subject to a 3.5% credit card company collection fee. Alpha Company collected payment from Worldwide Express on July 21. What amounts should be recorded for the following accounts for the July 21 collection?

Cash
Sales
Service Charge
Accounts Receivable

Reference no: EM131807821

Questions Cloud

Discuss alpha company uses aging to estimate uncollectibles : The current unadjusted Allowance for Uncollectable Accounts balance is a credit balance of $2,500 and the Bad Debt Expense accounts has an unadjusted balance
Extent to cost-estimating topics : Develop a statement that expresses the extent to which cost-estimating topics also apply to estimating benefits. Provide examples to illustrate
Greater influences and impacts of inflation : Should benefit and cost estimates be adjusted for the greater influences and impacts of inflation, government regulatory changes, and changing local
Conclude that sleeping on the job depends on job category : According to an online survey by Harris Interactive for job site CareerBuilder.com (lnformationWeek.com, September 27, 2007), more than half of IT workers.
What amounts should be recorded for the accounts : What amounts should be recorded for the following accounts for the July 21 collection
Prepare a table of cash flows : Al expects to sell the car at the end of the fourth year (after paying for the maintenance work) for $7000. Using these facts, prepare a table of cash flows.
Draw the cash flow diagram : An overhaul costing $5000 will be needed in Year 4. O&M costs will be $2500 per year. Draw the cash flow diagram.
Find the first derivative and local maxima and minima : Econ 1100 - find the first derivative and local maxima and minima and Sketch the demand curves in 4a and 4b at the bottom of the page
Discuss what value should the trading securities be reported : What value should the trading securities be reported for Alpha Company's FY 2016 balance sheet

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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