User Account

All Pages

Prepare the journal entry for wood incorporated and engram

Assignment Help Accounting Basics
Reference no: EM131113036

1. Wood Incorporated factored $150,000 of accounts receivable with Engram Factors Inc. on a without-recourse basis. Engram assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable for possible adjustments. Prepare the journal entry for Wood Incorporated and Engram Factors to record the factoring of the accounts receivable to Engram. 

Reference no: EM131113036

Questions Cloud

Design of databases and data warehouses : For which tasks, or situations, might they best be applied? Do you think that AI systems will someday play a greater role in the design of databases and data warehouses? Why or why not?
Calculating the price elasticity of demand : a. Calculate the (point) price elasticity of demand when price is $100. Is demand elastic or inelastic? How do you know whether demand is elastic or inelastic? What is total revenue at this price? b. Calculate the (point) price elasticity of dema..
Calculate the loss of energy e due to friction : Calculate the loss of energy E due to friction in the guides and rollers. The mass of the rollers may be neglected.
Calculate the risk premium on its common stock : Given the following information for the stock of Foster Company, calculate the risk premium on its common stock. Current price per share of common ........ $50.00 Expected dividend per share next year ...... $ 3.00
Prepare the journal entry for wood incorporated and engram : Wood Incorporated factored $150,000 of accounts receivable with Engram Factors Inc. on a without-recourse basis.
Distributed throughout the population : You need to hire some new employees to staff your start-up venture. You know that potential employees are distributed throughout the population as follows, but can't distinguish among them:
What moral guide should american society use : While it is easier to defend a middle-ground position that either strict moral absolutism or moral relativism, nonetheless, it is possible to create a good argument for any position along the spectrum between absolutism and relativism.
What is the percentage of energy lost during the impact : A 10-kg block swings down and strikes an identical block. Assume that the 6-m rope breaks during impact and the coefficient of restitution is zero. How long will it be before m2 comes to rest? How far will it have traveled? What is the percentage o..
What is the exponential rate of rainforest destruction : What is the exponential rate of rainforest destruction in units of 1/days?

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