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Problem 1: 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?
Determine equivalent units in process for direct materials and conversion costs, assuming there was no beginning inventory. Show all of your work.
What are the three journal entries that are made to the Allowance for Doubtful Accounts for a company that uses an aging method to deal with bad debts. For each journal entry provide the accounts debited and credited.
From the employees' perspective, what level of monthly sales dollars must COMM achieve so that their monthly compensation under the combination fixed salary/commission model is equal to the current monthly fixed salary amount (currently $38,000
During the year, Dorner Company produced 280,000 lathe components. Find the standard pounds of direct materials allowed for the production of 280,000 units.
Target's ROIC is 10.50%, ROE is 18.54%, Profit Margin is 4.19%, Asset Turnover is 1.50%, Based on market value estimates, what is Target's cost of capital?
Calculate Net cash flows and Cumulative cash flow. A capital budgeting decision is being considered that would involve an expansion
question mountain air limited manufactures a line of room air purifiers. management is presently computing the possible
The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard labor cost for a motor tune-up is given below: Job Standard Hours Standard Rate Standard Cost Motor tune-up 2.50 $4.50 $11..
What is the effective interested rate if the purchase payments are compounded monthly? What is the projected net cash flow for five year life of machine?
Calculate Smith's preadjustment balance in accounts receivable on December 31, 2010. Calculate Smith's preadjustment balance in allowance for doubtful accounts on December 31, 2010.
Superior has established a required rate of return equal to 18 percent of invested capital. Calculate the residual income/EVA of Paver Hospital.
A bank in London, Ontario charges 2.25% commission to buy and sell currencies. How much commission will you pay the bank for this transaction
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