Solution-What would be recorded as a gain on transfer of

What would be recorded as a gain on transfer of receivables

Reference no: EM132745813

Question: Sheffield Corp. factors $7400000 of its accounts receivables with recourse for a finance charge of 5%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. Sheffield estimates the fair value of the recourse liability at $203000. What would be recorded as a gain (loss) on the transfer of receivables?

Reference no: EM132745813

Questions Cloud

What is the current market price of the bonds : The current market rate of interest on the Fresh Water, Inc. bonds is 10.84 percent. What is the current market price of the bonds

Discuss any financial reporting issues relating to cibc : Discuss any financial reporting issues relating to CIBC 2003 and 2017 financial statements. Use the conceptual framework for the analysis.

What are the people issues : What are the people issues and how do these relate to key OB concepts and theories?

What is the database transaction : What is the Database transaction? Define Database Lock and its types. What do you understand by Index hunting?

What would be recorded as a gain on transfer of receivables : Sheffield Corp. factors $7400000 of its accounts receivables with recourse for a finance charge of 5%. The finance company retains an amount equal to 10%.

What is the year cash outflow : Its WACC is 13%, and its MIRR is 15.68%. What is the Year 2 cash outflow? Enter your answer as a positive value

What journal entry should the company make to retire : On June 30, 2017, the asset was discarded with no cash proceeds. What journal entry should the company make to retire the asset?

Data-generation machine : From the moment you wake, you are in fact a data-generation machine.

What additional processes would the auditor undertake : Discuss how an auditor determines whether subsequent events have been recorded correctly in the financial statements. What additional processes would.

Reviews

Write a Review

Required(*) Message

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?

Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

Accounting problems

Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.

Theory of interest - term structure of interest rates

Term Structure of Interest Rates

Write a report on internal controls

Write a report on Internal Controls

Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

Liquidity and profitability

Distinguish between liquidity and profitability.

What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

Capm and venture capital

CAPM and Venture Capital

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

User Account

All Pages

What would be recorded as a gain on transfer of receivables

Reference no: EM132745813

Reference no: EM132745813

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT