User Account

All Pages

What was the position of trade receivables at the end

Assignment Help Financial Accounting
Reference no: EM132800463

Question - At the beginning of 2020, the balance of Accounts Receivable was ISK 19,000. During the year, sales amounted to ISK 189,000. and cash sales were ISK 78,000. Trade receivables in the amount of ISK 162,000. were collected during the year. In addition, ISK 1,275 was collected. which had previously been recorded as verifiably lost claims. Based on the above transactions, what was the position of trade receivables at the end of 2020?

a. 124,000 kr.

b. 122,725 kr.

c. 46,000 kr.

d. 44,725 kr.

Reference no: EM132800463

Questions Cloud

Examine at least 3 examples of mnc : Examine at least 3 examples of this MNC (Circle K) entering a new national market. Find examples of export, turnkey
What other modeling tools could be used for developing model : QUESTION 1 What types of decision parameters were used in making this decision?
033200 Fundamentals of Innovation And Entrepreneurship : 033200 Fundamentals of Innovation And Entrepreneurship Assignment Help and Solution, University of Sharjah - Assessment Writing Service
Strategic leaders affect the image and character of the firm : How do the ethics of strategic leaders affect the image and character of the firm?
What was the position of trade receivables at the end : At the beginning of 2020, the balance of Accounts Receivable was ISK 19,000. What was the position of trade receivables at the end of 2020
Determining the firm strategic direction : Discuss effective leadership and the five key leadership actions: Determining the firm's strategic direction; effectively managing the resource portfolio
How does diversity affect team creativity : How does diversity affect team creativity? To answer this question, define diversity in a way that is relevant to team creativity.
General information on outlines : For assignment, follow a traditional outline format using the information below as a guide:
How much impairment loss should the bank recognize : Present your answer in good accounting form. Use 360 days = 1 year. How much impairment loss should the bank recognize on December 31, 2020

Reviews

Write a Review

Financial Accounting Questions & Answers

  Generate a report showing the company''s activity variances

Generate a report showing the company's activity variances for April.

  The terry project - adjusting the financial statements

Acct 414 Project - The Terry Project: Adjusting the Financial Statements. Terry Co. sells backpacks, laptop bags, briefcases, and other bags. The bags are purchased already made, then the Terry branding and finish is added

  Financial vs managerial accounting

Discussion: Shared Practice: Financial vs. Managerial Accounting. To prepare for this Discussion, "Shared Practice: Financial vs. Managerial Accounting," take a moment to think about the implications of these two kinds of accounting

  Decided to withdraw from the partnership

Mike, Jack, and William shared profits and losses of 20%, 40%, and 40% respectively, and their partnership capital balance is $10,000, $30,000, and $50,000 respectively. Mike has decided to withdraw from the partnership. Mike has agreed to receive $2..

  Explain the different categories of financial assets

Explain the different categories of financial assets (such as passive investments) and their measurement under IFRS and ASPE. Note: Use IFRS 9

  Prepare a tabular analysis of the transactions

Prepare a tabular analysis of the transactions, using the following column headings: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Owner's Capital, Owner's Drawings, Revenues, and Expenses.

  Prepare statement of cash flows using the direct method

Headland Company has not yet prepared a formal statement of cash flows for the 2017 fiscal year. Comparative balance sheets as of December 31, 2016 and 2017, and a statement of income and retained earnings for the year ended December 31, 2017, are pr..

  What is the expected return for a stock with a beta

Given the following information, what is the expected return on a portfolio which is invested 50 percent in stock A and 50 percent in stock B?

  Discuss the role of the aicpa

Discuss the role of the AICPA in establishing performance standardsin hospital accounting. Give specific examples of their efforts torevise and improve the quality of accounting practice in health care organizations.

  What rate of return does the firm earn on its operations

What effect will this transaction have on the firm's return on common equity if the same level of operating profitability is maintained????

  Explain what can do as a leader to assure project team

Explain what you can do as a leader to assure your project team that this is the right thing to do. What will you do to motivate them?

  Prepare journal entries to record the march transactions

ACCT 212 - Prepare journal entries to record the March transactions in the General Journal below. Remember that Debits must equal Credits

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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