Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
1. Assigned Accounts Receivable-Journal Entries Salen Company finances some of its current operations by assigning accounts receivable to a finance company. On July 1, 2010, it assigned, under guarantee, specific accounts amounting to $150,000. The finance company advanced to Salen 80% of the accounts assigned (20% of the total to be withheld until the finance company has made its full recovery), less a finance charge of 1⁄2% of the total accounts assigned. On July 31 Salen Company received a statement that the finance company had collected $80,000 of these accounts and had made an additional charge of 1⁄2% of the total accounts outstanding as of July 31. This charge is to be deducted at the time of the first remittance due Salen Company from the finance company. On August 31, 2010, Salen Company received a second statement from the finance company, together with a check for the amount due. The statement indicated that the finance company had collected an additional $50,000 and had made a further charge of 1⁄2% of the balance outstanding as of August 31. Make all entries on the books of Salen Company that are involved in the transactions above.(AICPA adapted)
At the end of the 4 years, the equipment is sold for $6,000 when the tax basis of the equipment is $4,500. Income tax rate is 35%. The net cash flow from disposal is ?
midlands design ltd. of manchester england is a company specializing in providing design services to residential
Using the appropriate interest table, compute the present values of the periodic amounts, due at the end of the designated periods.(a) $53,340 receivable at the end of each period for 8 periods compounded at 12%
Recommend a cash management strategy for the company that will minimize the financing cost and increase the cash flows for the company.
garson inc. produces three products. data concerning the selling prices and unit costs of the three products appear
schopp inc. has been manufacturing its own shades for its table lamps. the company is currently operating at 100 of
Refer to the statements for Arctic Cat in Appendix A.
Prepare the bank reconciliation as of May 31, 2007. Prepare the necessary adjusting entries at May 31, 2007.
1.a company should use the depreciation method that best matches depreciation expense against the revenues produced by
1. Prepare annual adjusting entries for the following (you made need to create additional accounts): a. Equipment is depreciated using an 8-year useful life with a $5,000 salvage value using the straight-linemethod.
kent company anticipates total sales for april may and june of 800000 900000 and 950000 respectively. cash sales are
The HMO proposes a capitated per member per month (PMPM) premium to the hospital to provide services to their members. What would the break-even premium be?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd