User Account

All Pages

What is the amount of cash received by cpa

Assignment Help Accounting Basics
Reference no: EM132791669

On October 1, the company factored 6,000,000 of accounts receivable to CFA company which has a net realizable value of P5,800,000. Control was surrendered by CPA. CFA accepted the receivables subject to recourse for non-payment. CPA assessed a fee of 3% and retains a holdback equal to 5% of the gross accounts receivable. In addition, CPA charged 15% interest computed on a weighted - average time to maturity of the receivables of 54 days.

Required:

Problem I. What is the amount of cash received by CPA?

Problem II. What is the total cost of factoring?

Reference no: EM132791669

Questions Cloud

Advantages and disadvantages of using bright-field : State the advantages and disadvantages of using bright-field, phase-contrast, dark-field, fluorescence, confocal scanning laser, transmission electron
Calculate the density of the metal : The metal increased the volume of water to 22.9 mL. Calculate the density of the metal and determine the identity of the metal using the table below.
What is the loss on factoring to be recognized by cpa : What is the loss on factoring to be recognized by CPA? Prepare the entry on CPA Company on the date of factoring.What is the amount of cash received by CPA?
How the different elements are bonded together : What is chemical compound and why is it important to understand how the different elements are bonded together?
What is the amount of cash received by cpa : What is the amount of cash received by CPA? On October 1, the company factored 6,000,000 of accounts receivable to CFA company which has a net realizable value
Prepare any necessary journal entries to update the ledger : The ending balance of the Western Flyers cash account is $12,875.00. Prepare any necessary journal entries to update the ledger. Explanation is not required
What is the amount of cash received from the bank : What is the amount of assigned accounts receivable transferred to accounts receivable? What is the amount of cash received from the bank?
How do steroids affect the body : What are two reasons why athletes may take steroid supplements. In your opinion, do these reasons justify athletes' steroid use? Why or why not?
Difference in terms of the characteristics of life : Consider the differences in worth between the elemental and biomolecular components of life. Explain the difference in terms of the characteristics of life.

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