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Floppy Corp. factored $600,000 of accounts receivable to Floozy Corp. on October 1, 2015. Control was surrendered by Floppy. Floozy accepted the receivables subject to recourse for non payment. Floozy assessed a fee of 3% and retains a holdback equal to 2% of the accounts receivable. In addition, Floozy charged 15% interest computed on a weighted-average time to maturity of the receivables of fifty-four days. The fair value of the recourse obligation is $9,000. Floppy will record: a. cash of b. a loss of
calculation of ratio analysis.your company had the following balance sheet and income statement information for
Super-Cola and Popinski are two of the largest and most successful beverage companies in the world in terms of the products that they sell and their receivables management practices
What is the probability that an individual owns a stock? A mutual fund?- What is the probability that an individual owns neither stocks nor mutual funds?
foreman company issued 800000 of 10 20-year bonds on january 1 2012 at 119.792 to yield 8. interest is payable
Crazy Jim's Mining Co. acquired mineral rights for $21,750,000. The mineral deposit is estimated at 15,000,000 tons. During the current year, 3,600,000 tons were mined and sold. Determine the amount of depletion expense for the current year. Round th..
Determine the value that would be shown in Padre and Sol's consolidated financial statements for each of the accounts listed. (Input all amounts as positive values.)
On 2/1/16, you issue a 10-year $100,000 bond paying interest quarterly from the date of issue. The market rate of interest has increased to 6% and the stated rate is 5%. Prepare the necessary journal entry/entries for July 31, 2016
Ryan Patrick operates a roller skating center. He has just received the monthly bank statement at June 30 from Citizens National Bank, and the statement shows an ending balance of $750. Use the data from exercise above to make the journal entries tha..
Below are her estimates of the number of patrons the complex will attract each year, depending on the number of screens available.
Using a theory of constraints (TOC) approach, rank the products in terms of profitability. Illustrate what price for lemonade would equate its profitability to that of soda?
Assume that the company's tax rate is 30%. What amounts will be reported on the income statement for income before irregular items and extraordinary items, respectively?
Ending inventory value with respect to absorption costing and variable costing: If Freeza collects 80% of its credit sales in the month of the sale and 20% in the month after that sales, how much will Freeza collect in March on a $220,000 credit sale..
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