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Question - Monacle Inc. factors $1,900,000 of its accounts receivables without recourse. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments and charges a finance fee of 3.5%. Monacle estimates the fair value of the last 10% of accounts receivable at $ 155,000. Record the journal entry for the transfer if the criteria for a sale are met. What is the amount of the debit to Receivable from Factor?
During the month of September, direct labor cost totaled $13, 055 and direct labor cost was 35% of prime cost. What was the manufacturing overhead?
This ticket is handed to another person at the entrance to the movie. What kinds of irregularities is the theater trying to prevent
Review the requirements of the Sarbanes-Oxley Act, which requires public companies to engage independent auditors. Does the monitoring function have to be done.
What is the difference between cash and accrual accounting? When would a company prepare its financial statements on a cash basis?
The bonds are dated January 1, 2010, and mature January 1, 2015. Interest is payable annually on January 1. Set up a schedule of interest expense and discount amortization under the straight-line method.
1- the requirement that only transaction data capable of being expressed in terms of money be included in the
1.Camden Biotechnology began operations in September 2013. The following selected transactions relate to liabilities of the company for September 2013 through March 2014.
The contract was duly completed and the price was received. Prepare Joint Venture Account, Joint Bank Account and accounts of the venturers
Calculate the quarterly quality-control cost that is allocated to the Dragon product line under Whitman's traditional-costing system
Prepare entries to record the retirement of the machine under each of the following unrelated assumptions: (a) it was sold for $15000
Income Tax Return Problem - Below is the taxpayer information for Beverly Johnson: Prepare the Schedule C for Beverly Johnson
What is the maximum transfer price that would induce the Hauser division to spend the optimal additional promotional expense from the standpoint of the firm.
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