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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.
You told the panel that you read the IBM book in our class. A memeber of the panel asked you to give one application of cost accounting that would have helped Lou. How would you respond? Use a simple example in your response.
John invested the following amounts in three stocks: Stock A $340,241 1.31. Calculate the beta portfolio
Green Corporation (a calendar year taxpayer) had a deficit in accumulated E&P of 250000 at the beginning of the current year. Its net profit for the period January 1 through July 30 was 300000, but its E&P for the entire taxable year was only 40000. ..
your investment adviser has sent you three analyst reports for a young, growing company named Vegas Chips Inc.. These reports depict the company as spectulative, but each one poses different projections of the company's future growth rate in earning ..
Ann, age 61, and Bob, age 62, have a large number of investments in common stock of publicly traded corporations, some municipal bonds, and a money market cash account worth several million dollars. In addition, they own a ranch in Texas that may ..
What is another term used to describe unsecured bonds? Debentures, Coupon bonds, Par value bonds, Discount bonds give the options
Prepare the necessary adjusting entry for The Baylor Agency on November 30, assuming it recorded Able's payment as Unearned Insurance Premiums.
What is the payback period? Please show calculation. What is the advantages and disadvantages of using payback period as your investment decision?
What are fiduciary funds? Please identify and explain the two main types and what is the main difference between the funds?
Find What the profit margin would be? Sales returns and allowances 3000. Cost of goods sold 87000. Sales revenue 200000. Sales discounts 9000
How can companies reduce the conflict between the Economic Order Quantity (EOQ) decision model and models used for performance evaluation? What are spoilage, rework, and scrap, and how are they accounted for under job order versus process costing sys..
Bluestone Company issued bonds with a face value of $500,000 at 90. Which of the following journal entries would be required to record the bond issue
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