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Question - Bramble Corp. factors $3100000 of its accounts receivables without recourse for a finance charge of 4%. The finance company retains an amount equal to 8% of the accounts receivable for possible adjustments. Bramble estimates the fair value of the recourse liability at $320000. What would be the debit to Cash in the journal entry to record this transaction?
a. $2408000.
b. $3100000.
c. $2976000.
d. $2728000.
Superior Micro Products uses the weighted-average method. Compute the equivalent units of materials, labor, and overhead in the ending inventory for the month.
What amount is reported on Fletch's statement of comprehensive income in 2016 under each of the methods above and where are these amounts reported?
The company's manufacturing overhead cost is applied to production on the basis of direct labor-hours. What was the actual cost per pound of material
Suppose a consumer has a daily income of $100 and purchases just two goods A and B. The price of good A is $5 and the price of good B is $4.
Javier Ceenao, president of Halsey Co., is concerned that the method used to account for and write off uncollectible receivables in unsatisfactory. He has asked fo your advice in the analysis of past operations in this are and for recommendations ..
For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525 000. Calculate the Accounts Receivable Turn Days
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Why should accountants be concerned about risks inherent in a complex software system such as the operating system?
Record each event in a horizontal statements model like the following one. The first event is recorded as an example.
The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost
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Maxx Inc. has provided the following data from its activity-based costing system: The activity rate for the "designing products" activity cost pool is
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