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Problem 1: On March 1, 2018, Ramos Co. assigned its ?1,000,000 accounts receivable to Cammayo Bank in exchange for a 2-month, 12%, loan equal to 75% of the assigned receivables. Ramos Co. received the loan proceeds after a 2% deduction for service fee based on the assigned notes. During March, ?500,000 were collected from the receivables. Sales returns and discounts amounted to ?150,000. How much net cash is received from the assignment transaction on March 1, 2018?
How much gift card revenue should Bull'sEye recognize in 2021? Bull'sEye sells gift cards redeemable for Bull'sEye products either in-store or online.
Bank was debited and Rent income was credited with R35 000 in total for the year. The adjustment journal entry at the end of the year will be as follows
To manage and minimise such types of risk, can these companies negotiate on certain financial aspects of dealing with international partners?
What will happen to the value of this bank's shares if interest rates declined unexpectedly? Show how the change in value of the equity can be determined.
Equipment with a cost of $250,000 has an accumulated depreciation of $50,000. What is the book value of the equipment? Accounts in which the balances are carried over from one accounting period to the next are called: At the end of its fiscal year, t..
Show the conceptual issues involved and the definition of assets that can be applied in evaluating whether development expenditure should be treated as an asset or an expense.
Discuss the financial analysis concepts that are unique to the industry - banks, electric utilities, oil and gas, transportation and insurance
Which change would not be accounted for using the prospective approach?
It is easy to dismiss discussions of foreign activities by affirming that your plans never include working for a publicly traded company with international operations or dealing with clients of major accounting firms that might have such issues. But ..
Xyz's companys operating expenses for november totaled $60,000 and the November income tax rate was 20%. Calculate the amount of gross profit
If the market expects a return of 10.8% from stock X, what is its beta? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Recording Journal Entries and preparation of balance sheet and the post-closing trial balances of two proprietorships on January 1, 2008
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