What is the net realize value of accounts receivable

Assignment Help Accounting Basics
Reference no: EM132708765

Question - The following data were taken from the records of Infra Company for the year ended December 31, 2009: Sales on account 3,600,000 Notes received to settle accounts 400,000 Provision for doubtful accounts 90,000 Accounts receivable determined to be worthless 25,000 Purchases on account 3,900,000 Payments to creditors 3,200,000 Discounts allowed by creditors 260,000 Merchandise returned by customer 15,000 Collections received to settle accounts 2,450,000 Notes given to creditors in settlement of accounts 250,000 Merchandise returned to suppliers 70,000 Payments on notes payable 100,000 Discounts taken by customers 40,000 Collections received in settlement of notes 180,000. What is the net realize value of accounts receivable on December 31, 2009?

a. 605,000

b. 890,000

c. 825,000

d. 670,000

Reference no: EM132708765

Questions Cloud

What amount should be recognized as share premium : What amount should be recognized as share premium on December 31, 2020 if the supplier has chosen the share alternative
What was total amount of investor-provided operating capital : Reliable Safe Company 2019 balance sheet showed total current assets, What was the total amount of investor-provided operating capital at the end of 2019?
Compute the amount of its retained earnings : In addition, the company sold additional common stock amounting to $28,000. As a result, compute the amount of its retained earnings at the end of the year
Journalize the December transactions and post to the ledger : Dec. 3 Acquired P 75,000 of office equipment, paying P 37,000 down with the balance due in 30 days. Journalize the December transactions and post to the ledger
What is the net realize value of accounts receivable : Sales on account 3,600,000 Notes received to settle accounts 400,000 Provision for doubtful accounts 90,000. What is net realize value of accounts receivable
Analyse the project from the perspective of decision : Analyse the project from the perspective of decision -making points/stages - making tools and technologies from within the subject modules
Critically examine emerging tools and technologies : Critically examine emerging tools and technologies for decision making - evaluate the usefulness of a range of decision making tools
What would be cement company estimated cost of equity : Cement company, What would be cement company estimated cost of equity if it changed its capital structure to 40% debt and 60% equity?
Find the total inventory cost : Examine whether Tammy's Bakery should stick to the same supplier or take advantage of the quantity discount. Justify your answer with the appropriate calculatio

Reviews

Write a Review

Accounting Basics Questions & Answers

  Plattsburg plastics corporation manufactures a variety

Plattsburg Plastics Corporation manufactures a variety of plastic products, including a series of molded chairs. The three models of molded chairs

  The pickle material standards for each batch of cereal

mango cereal corporation uses a standard cost system to collect costs related to the production of its crunchy pickle

  Why would it be less likely that the e and p will drill

Why would it be less likely that the E&P will drill now the higher the chance that the price of oil will be $100 per barrel in two years holding the futures.

  What is the cash and equivalents amount at year-end

Cash receipts from operating activities $860 and Cash payments from operating activities 260. What is the cash and equivalents amount at year-end

  How much net income does guay report

Guay employees earned $200,000 in 2012 wages that were not paid until the first week of 2013. How much net income does Guay report for 2012

  Determine the cost per equivalent unit of direct material

Annapolis uses the weighted-average process costing method. Use this information to determine the cost per equivalent unit of direct material

  What is the fund balance as of june

What is the fund balance as of June 30, 2009 after all closing entries have been made? Show your work

  Seville company manufactures a product with a unit variable

seville company manufactures a product with a unit variable cost of 42 and a unit sales price of 75. fixed

  What would have been the amount of net income or net loss

What would have been the amount of net income or net loss? If required, use the minus sign to indicate a net loss.

  Compute taxable income if mr garrett agi consists entirely

Compute his taxable income if Mr. Garrett's AGI consists entirely of interest income. He is 19 years old and is considered a dependent of his parents

  Ronald distributors is a growing company whose ability

Ronald Distributors is a growing company whose ability to raise capital has not been growing as quickly as its expanding assets and sales.

  Management has decided to buy the new model 240 machine it

management of modugno corporation is considering whether to purchase a new model 370 machine costing 459000 or a new

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd