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Question - Jay plc enters into an agreement to assign its portfolio of £20 million trade receivables with recourse to factor Kima. The receivables have 90-day terms. Kima agrees to pay Jay plc an initial amount of £16 million in cash for the rights to the cash flows from the receivables. Once the receivables have been repaid, Kima will pay a further sum to Jay calculated as the balance of £4 million less interest on the £16 million initial payment until the date debtors pay (at 10%) and less any defaults (defined as any debts that remain unpaid after 120 days).
Required - How should Jay plc account for this transaction? Provide the rationale for your answer and specify the nature of risks that Jay retains or transfers to Kima.
X Company manufactures a single product and estimates its total variable manufacturing costs each month. Each unit of product requires 1.4 pounds of direct material, and the price per pound is $21.30. It takes two hours of direct labor time to manufa..
The amount of the average investment for a proposed investment of $90,000 in a fixed asset, with a useful life of four years, straight-line depreciation, no residual value, and an expected total net income of $21,600 for the 4 years, is:
Calculate Detail As Possible. Carlisle Cha Corporation is considering an expansion of its chemical plant and require an additional RM5 Million capital next year
Sirhuds Inc., a maker of smartwatches, reports the information below on its product. The company uses absorption costing and has a target markup of 40% of absorption cost per unit. Compute the target selling price per unit under absorption costing.
Some theorists contend that companies that create pollution should report the social cost of the pollution in their income statements. Assume you are on the FASB, and you are considering a standard to include the social costs of pollution in the inco..
customer profitability analysisomega printers ltd handles printing jobs. joe patterson finds that serving some clients
Prepare a worksheet to develop financial statements in the manner illustrated in table. Prepare, in good form, a complete set of financial statements for 20X1.
Estimated fair value is $268987. For year 2019, How much should Discovery Corp. record the gain/loss on impairment of office building?
Sales forecasts are given in the following table. The firm pays tax at 35% and the required return on the project is 12%. What is the NPV?
Deferred tax liability 30th June 2012 120,000 (carried forward). 30Th june 2013 147,300 (current year). What would be journal entries?
C&S Marketing (CSM) recently hired, Prepare the journal entry CSM will make when the note is established accrue interest on June 30 and December 31 .
Purpose the adjusting entry to recognise bad debt expens - Assume the same facts as above except that the Allowance for Doubtful Accounts account had a $500 debit balance before the current year's provision for uncollectible accounts.
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