Sun inc factors 2000000 of its accounts receivables with

Assignment Help Accounting Basics

Reference no: EM13482314

Sun Inc. factors $2,000,000 of its accounts receivables with recourse for a finance charge of 3%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. Sun estimates the fair value of the recourse liability at $100,000. What amount would be recorded as a gain (loss) on the transfer of receivables?

Reference no: EM13482314

Questions Cloud

Blackstone inc has a five-year bond outstanding that pays : blackstone inc. has a five-year bond outstanding that pays 60annually. the face value of each bond is 1000 and the bond

A a 1000 bond has a 75 percent coupon and matures after 10 : a. a 1000 bond has a 7.5 percent coupon and matures after 10 years. if current interest rates are 10 percent what

At december 31 2010 the estimated future costs to complete : turner inc. began work on a 7000000 contract in 2010 to construct an office builidng. during 2010turner inc. incurred

Umanzor corporation uses activity-based costing to assign : umanzor corporation uses activity-based costing to assign overhead costs to products. overhead costs have already been

Sun inc factors 2000000 of its accounts receivables with : sun inc. factors 2000000 of its accounts receivables with recourse for a finance charge of 3. the finance company

Discuss the factors that acompany must consider when : discuss the factors that acompany must consider when deciding whether to use a job order or a process cost system. what

Youve been saving up for a new car that you think costs : 1. youve been saving up for a new car that you think costs 25000. you already have 10000 and you think that with

Total costs to account for is 1 the number of units : total costs to account for is1. the number of units finished during theperiod2. equal to the dollar value offending

Each of the following statements may or may not describe : listed below are nine technical accounting termscost volume profit analysiscontribution margin ratio variable cost

Reviews

Write a Review

Required(*) Message

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

User Account

All Pages