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Question - Topics - Receivable Financing - On January 31, 2019, Alpha Corporation factored accounts receivables of P1,500,000 with credit terms of 1/10, n/30 immediately after shipment of the goods to the customer. The factor charges a 4% commission based on the gross amount of the receivables factored. The factor also withheld 25% of the amount factored to cover for sales returns and allowance. On February 6, 2019, the customer subsequently returned P120,000 of damaged merchandise. What is the journal entry for February 6?
FIFO, LIFO, or weighted average Given the information below, which method would you suggest? State yuor reason for suggesting this method.
Purpose journal entries to record these transactions. Create the Nicklaus Corporation shareholders' equity section as it would show in a balance sheet prepared at September 30, 2011.
What is the net cash flow at time 0 if the old equipment is replaced? (Negative amounts should be indicated by a minus sign. Do not round intermediate)
Prepare the journal entries for the issuance of the bonds, and the first year's interest expense. Show all the calculations. An investor wants to buy a 12-year
Jackie has the following information to evaluate—her current salary of $74,000 versus total revenues of $100,000 and expenses of $65,000 from starting a new business. How much is the opportunity cost associated with staying at her current job?
Assume you are the above-described partner of Crandall & Lowe, CPAs. How would youresolve the dispute between Wendell Casey and John Winston?
Assume the company employs the units of production method of depreciation
Caine bottling corporation is considering the purchase of a new bottling machine. The machine would cost $200,000 and has an estimated useful life of 8 years with zero salvage value. Management estimates that the new bottling machine will provide net..
The Director Decided to rejected the Excess application money on 2000 share as refunded .Show the necessary Journal entries.
Prepare journal entries that summarize sales of the extended warranties and any aspects of the warranty that should be recorded during the year.
Analyze the cost components of the primary manufacturing process and examine the significance of cost behavior analysis to the company.
Find the amount of cash received arising from the assignment of the receivable is? On December 1, 2018 Iris Company assigned P1,500,000 of accounts receivable
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