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The balances of selected accounts taken from January 1, 2019 statement of financial position of Faithful Companywere as follows: Accounts receivable P3,750,000Allowance for doubtful accounts 90,000 The following summary of transactions affecting accounts receivable occurred during the year ended December 31, 2019. Sales - all on account (2/10, 1/15, n/30) P11,902,500Cash received from customers 12,000,000The cash received includes the following: Customer paying within the 10-day discount period 6,615,000 Customer paying within the 15-day discount period 3,712,500 Recovery of accounts written off 22,500 Customers paying beyond the discount period ?Accounts receivable written off as worthless 82,500Credit memoranda for sales return 45,000 Problem 1: The balance of accounts receivable of December 31, 2019 is?
Determine What is the firm's debt ratio? Dearborn Supplies has total sales of $204 million, assets of $96 million, a return on equity of 27 percent
Hot Wheels Depot needs to accumulate $25,000 in 6 years to purchase new equipment. What sinking fund payment would they need to make at the END of every three months, at 8% interest compounded quarterly? (Use Table 12-1 from your text)
Bad debts amounting to $2 600 were written off during the period. What the cash receipts from sales during the year amounted to
qsaint john corporation prepares its financial statements according to ifrs. on 30th june 2013 the company purchased a
Prepare journal entries for the equipment at December 31, 20X5. The fair value of the equipment at December 31, 20X5, is estimated to be $4,600,000.
the net income reported on income statement of the present year was 92000.depreciation recorded on store equipment for
Nora and Eve are opening a new? children's clothing store in a few months and are debating the best marketing strategy for their company. Nora wants to place ads about the store in the local newspaper and on local TV stations. Which of the following ..
Set up a statement of cash flows using the indirect method.
Prepare an income statement for the year. Novak Corp. did not issue any new stock during the year. Prepare a retained earnings statement for the year.
Riverbed Corp. issued $10,000,000 of par value, 7% convertible bonds at 98. If the bonds had not been convertible, the company's investment
Create a budget for the set design and construction project. Why don't you need to take into account fringe benefit costs for the workers. Using the expected monetary value concept, calculate what contingency reserve should be set aside to deal with ..
What are the most responsible reasons for the difference between the net income and net cash generated from operating activities?
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