User Account

All Pages

How much should be shown as trade and other receivables

Assignment Help Accounting Basics
Reference no: EM132791677

The information taken from the books of Lyle Co. as of December 31, 2021 are the following:

Trade accounts receivable - 2,000,000
Allowance for doubtful accounts - 100,000
Claim against shipper for goods lost in transit in November 2021 - 300,000
Selling price of unsold goods sent by Lyle Co. on consignment to Aly Co. at 150% of cost - 600,000
Security deposit on lease of warehouse - 200,000

Problem 1: How much should be shown as trade and other receivables at the current asset section of the statement of financial position on December 31, 2021?

Reference no: EM132791677

Questions Cloud

How much is the impairment loss to be recognized on december : How much is the impairment loss to be recognized on December 31, 2019? How much should be recognized as interest income for 2020?
What is the budgeted amount of supplies to be purchased : Tom and Lynda also inform you that each individual member uses $10 worth of supplies per month. What is the budgeted amount of supplies to be purchased
How much was Bae proceeds from the discounted note : On July 1, 2021, Bae Inc. discounted the note at a bank at an interest rate of 12%. How much was Bae's proceeds from the discounted note?
Hormones can be synthesized from a range of molecules : Identify which of the four hormones classes are lipid soluble vs. water soluble.
How much should be shown as trade and other receivables : How much should be shown as trade and other receivables at the current asset section of the statement of financial position on December 31, 2021?
What do the different bands in the same lane : What do the different bands in the same lane of an agarose gel represent?
What is the carrying amount of notes payable : In its statement of financial position on December 31, 2021, what is the carrying amount of notes payable to be presented as current liability by Smash Company?
What is the loss on discounting on a note in numbers : What are the net proceeds on note discounting in numbers 1 and 2 respectively? What is the loss on discounting on a note in numbers
Advantages and disadvantages of using bright-field : State the advantages and disadvantages of using bright-field, phase-contrast, dark-field, fluorescence, confocal scanning laser, transmission electron

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: +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