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Question - Janine Company factored P5,000,000 of accounts receivable. Control was surrendered by the entity. The finance company assessed a fee of 2% and retains a holdback equal to 10% of the accounts receivable. In addition, the finance company charged 12% interest computed on a weighted average time to maturity of the accounts receivable for 30 days?
1. What is the amount initially received from the factoring of accounts receivable?
a. 4,250,000
b. 4,700,685
c. 4,200,000
d. 4,200,685
2. What total amount should be recognized as loss on factoring?
a. 299,315
b. 250,000
c. 799,315
d. 0
The fair value of the old equipment was RM120,000. Prepare the journal entry to record the transaction related to the exchange of equipment by Munirah Bhd
The beginning inventory of Merchandise at Waldo Co. and data on purchases and sales for a three-month period are as follows: Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustr..
Pearson Corporation having recently issued a $25 million, 10-year bond issues, is required to make annual year-end sinking fund deposits of $ 1,800,000. The deposits are made on the last of each year and yield a return of 5%. Compute the fund balance..
analysis of various methods of inventory system and its effect on ending inventory and cost of goods sold.glanville
If bonds are issued at a discount, it means that the
Max Corporation acquired 30 percent of the outstanding common stock of Rich Company for $1,000,000. This acquisition gave Max the ability to exercise significant influence over the invested.
The common stock has a price of $54 and an expected dividend (D1) of $2.70 per share. Calculate the weighted cost of each source of capital
Explain If you were the financial manager of Cray Research, would you recommend hedging this euro receivable? Why or why not?
On January 1, 2013, Packard Corporation leased equipment to Hewlitt Company. The lease term is 9 years. The first payment of $452,000 was made on January 1, 2013. Remaining payments are made on December 31 each year, beginning with December 31, 2013...
MBA 520- How is the company organized and managed (e.g., by product groups, geographic region, function, etc.)? How does that affect accounting and financial information and subsequent business decisions?
Should you pay the $1,000 today to receive payment numbers 26 and onwards? What does this suggest to you about the value of perpetual payments?
Seventy percent of the net cash flow used for investing activities was for the purchase of property, Determine McMahon free cash flow for both years
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