User Account

All Pages

How would each of the preceding items normally be reflected

Assignment Help Accounting Basics
Reference no: EM132882076

Problem - Journal Entry to Separate Receivables - An examination of Hutton Corporation's accounting records indicates that all receivables are being recorded in a single account entitled Receivables. An analysis of the account reveals the following:

Accounts receivable (trade) $15,500

Accounts receivable (officers) 3,600

Interest receivable, due in 3 months 675

Advances to employees 1,800

Notes receivable (trade), due in 3 years 9,000

Deposit to guarantee contract performance 5,000

Utility deposit 500

Total $36,075

Required -

1. Prepare a journal entry to separate the preceding items into their proper accounts.

2. How would each of the preceding items normally be reflected (current or noncurrent; trade or nontrade receivable) on Hutton's balance sheet?

Reference no: EM132882076

Questions Cloud

Describe the roles of the nurse for the program : Using the Nurse Practice Act for the state where you intend to practice, compare and contrast the scope of practice for the LPN and RN
Postarrest and pretrial : Explain the decisions that the prosecutor and the defense were faced with, including the possibility of plea bargain.
Evaluate clients for treatment of mental health disorders : Analyze decisions made throughout diagnosis and treatment of clients with mental health disorders. Evaluate clients for treatment of mental health disorders
Formulate a roadmap to convince decision : 1. How a HR Business Leader should formulate a roadmap to convince decision makers to adopt a ESG strategy. Exemplify your roadmap key criteria.
How would each of the preceding items normally be reflected : How would each of the preceding items normally be reflected (current or noncurrent; trade or nontrade receivable) on Hutton's balance sheet
Asis preemployment background screening model : Explain why an employeer should implement ASIS preemployment background screening model.
Calculating the employee disengagement factor : The workforce planning at Capital One stems from a process executed by a metrics and analytics group of 20 people, plus hundreds of executives, managers, and an
What amount should be reported as cash on Watt balance sheet : Reconciled balance in First National Bank checking account $ 3,525.80. What amount should be reported as cash on Watt balance sheet
Discuss immanuel kant ethical theory : Discuss Immanuel Kant's Ethical Theory i.e., deontology and how it may apply to modern policing ethical practices.

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