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Problem - As of January 1, 2020, ABC Company has an accounts receivable balance of P 750,000. During the year, P 200,000 of the accounts receivable were assigned for a bank loan applied of P 100,000 and P 300,000 were factored with a factoring fee of 5% and 10% were withheld for any anticipated sales returns. Collections from the assigned accounts of P 50,000 were in this was applied first to interest of P 7,000 by ABC Company under non-notification basis. Also, there are sales returns of P 2,000. How much accounts receivable must be presented as of December 31, 2020, assuming only the above transactions happened during the year?
On 1st January, 1961, A. James obtained two motor vehicles, the total cash price of which was £2,400. Payment was to be made as follows.
How would secure investment capital from traditional (i.e., banking, investors, etc.) and non-traditional (i.e., angel investors, crowd funding, etc.).
Reuschel uses a periodic inventory system and the LIFO inventory cost method.
Carson Inc., a retail establishment, expects sales of $500,000 of a particular item in March. Its gross profit percentage is 60 percent.
stojko corporation had a net decrease in cash of 15500 for the current year. net cash used in investing activities was
How should you account for the difference between the carrying value and the purchase price in the consolidated financial statements for 2011?
Product Costs and Period Costs
On May 31, 2008, Sol Company's board of directors declared a 10% stock dividend. What amount should Sol credit to share premium for this stock dividend
What amount of revenue should Big Joe's record at the date of sale? What guidance should Big Joe's apply to the subsequent measurement
Give enteries in the General Journal of the firm to record the investment by Jawaid & Junaid. Prepare initial balance sheet of the firm
Harmony, Inc., an exempt organization, reports unrelated business income of $7,500 and unrelated business expenses of $4,000. Calculate Harmony's UBIT
The bonds mature in three years. The annual market rate at the date of issuance is 12%, and the bonds are sold for $277,872. How much total bond interest expense?
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