User Account

All Pages

How should these balances be reported in James statement

Assignment Help Accounting Basics
Reference no: EM133034420

Question - At 30 April 2020 the total amount owed to James by his customers was RM54,864. At the same date, James calculated that his receivables allowance is RM3,775. How should these balances be reported in James' statement of financial position as at 30 April 2020?

a. RM51,089 as a current asset

b. RM51,089 as a current liability

c. RM54,864 as a current liability, and RM3,775 as a current asset

d. RM54,864 as a current asset and RM3,775 as a current liability

Reference no: EM133034420

Questions Cloud

Assignment-gamma galaxy manufactures : Gamma Galaxy manufactures two models of steppers used for aerobic exercises. Manufacturing each luxury model requires 7 lb of plastic and 6 min of labor.
Determine the collateral bank requires to secure the loan : Determine the collateral the bank requires to secure the loan? Determine the interest rate charged for a $300,000 loan
Discuss three concepts associated with risk management : Discuss three concepts associated with risk management. As part of your answer, provide an example of how each concept may relate to organisational learning.
What is the difference between tcp and udp : Question 1) What is the difference between TCP and UDP? Question 2) Why would you use one over the other?
How should these balances be reported in James statement : At the same date, James calculated that his receivables allowance is RM3,775. How should these balances be reported in James' statement
Facebook facial recognition software : Problem: Why are facebook's facial recognition software and policies a potential threat to privacy?
Do you think you should feel free to job surf : If you had an interview with Foster or someone with his views of Millennials, how might you combat his preconceptions?
Calculate Cookie Creations warranty liability : Calculate Cookie Creations' warranty liability for the shipping costs at December 31, 2020. Record the estimated warranty liability at December 31, 2020
Assignment on information system planning : Problem: In your words, explain the process involved in Information System Planning.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss income statement information for posad company

Partial comparative balance sheet and income statement information for Posad Company

  Explain the variances

Use 2019 actual data to complete the 2019 Actual column incorporated with the budget and variance analysis tab.Compute the break-even in units and dollars.

  In our assessment of the effectiveness of internal control

for each of the following cases indicate why management and the auditors determined that control deficiency was a

  Commonly used business intelligence tools

CISM4000 - Accounting Information Systems - Kaplan Business School - Spreadsheet and Case Study Report - brief Research Report to explore the impact

  Three dry holes were drilled on surrounding leases

Three dry holes were drilled on surrounding leases

  Direct materials cost per unit of custom calculator is 15

arden corporation just received a special order to make 7500 units of a specialized calculator. direct materials cost

  Watertoys corporation manufactured a variety of products in

watertoys corporation manufactured a variety of products in its factory. data for the most recent months operations

  Determine Call reportable taxable income

Based on the information above, determine Call's reportable taxable income for on its first five separate Form 1120

  Basic flexible budgeting centron inc has the following

basic flexible budgeting centron inc. has the following budgeted production costs direct materials 0.40 per unit direct

  Create general journal entries to record the transactions

Prepare general journal entries to record the transactions, include a brief description for each entry.Note:All of your account names can be found

  The michigan corporation owns 20 of the wolverine

the michigan corporation owns 20 of the wolverine corporation. the wolverine stock was acquired eight years ago to

  What type of cost accounting system company should use

Discuss both (A) what type of cost accounting system this company should use, and (B) the documents that you would recommend as part of the cost accounting.

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