User Account

All Pages

Calculate the total cash received from factoring

Assignment Help Financial Accounting
Reference no: EM133012187

On June 1, 2014, Howard Corporation needed cash to meet current operating needs. Howard decided to factor some of its receivables. Howard factored P490,000 of receivables to Third National Bank forP416,500. An allowance for doubtful accounts of 3 percent of the receivables balance is maintained by Howard. The bank withheld 7 percent of the purchase price as protecton against sales returns and allowances. Sales returns against the factored receivables totaled P1,480.

Problem 1: Calculate the gain or loss from

Problem 2: Calculate the partial cash received trom factoring.

Problem 3: Calculate the total cash received from factoring, Including realization Of Keceivable from ractor.

Reference no: EM133012187

Questions Cloud

What is the adjusting entry for the accrued interest : On November 1, Alan Company signed a 120-day, 9% note payable, with a face value of $25,200. What is the adjusting entry for the accrued interest
Implementing a team performance management system : Your organization is considering implementing a team performance management system and has asked you to provide information about the performance dimensions you
Determine the cash received from financing : Determine the cash received from financing. On Julv 23. Plitt Company factored P300,000 in accounts receivable for cash of P280,000.
What is the amount of the initial cash flow : If the new flange-lipper is purchased, what is the amount of the initial cash flow at Year 0? Round your answer to the nearest dollar. Cash outflow
Calculate the total cash received from factoring : Calculate the total cash received from factoring, Including realization Of Keceivable from ractor. Calculate the partial cash received trom factoring.
How will clean sweep statement of cash flows be affected : If Clean Sweep, Inc. bought brooms for $100 and sells them for $200 in cash. As a result, how will Clean Sweep's statement of cash flows be affected?
Measure organizational development intervention : What are the various ways to measure organizational development intervention results and impacts
Representative of effective leadership : Compare and contrast transactional vs transformational leadership styles as to why they would or would not be representative of effective leadership in the face
What are the major purposes and uses of stocks : What are the major purposes and uses of stocks and What is the standard ratio making and yielding one gallon of stock with meaty bones

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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