Cynthia company factored 750 000
WebParent Company acquired 100% of Subsidiary Company prior to 2024. During 2024, the individual entities included in their financial statements the following: Parent Subsidiary Key officers’ salaries 750,000 500,000 Officers’ expenses 250,000 100,000 Loans to officers 1,250,000 500,000 Intercompany sales 1,500,000 0 WebFeb 11, 2024 · 0:00 0:02:39. The majority of the world’s internet traffic passes through the town of Ashburn in Loudoun County, Virginia, home to one of the world's major internet …
Cynthia company factored 750 000
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WebBusiness Accounting Ray Company factored 6,000,000 of accounts receivable to a finance entity on October 1, 2024. Control was surrendered by Ray Company. The factor assessed a fee of 3% and retains a holdback equal to 5% of the accounts receivable. WebJay Company provided the following data relating to accounts receivable for the current year: Accounts receivable, January 1 650,000 Credit sales 2,700,000 Sales return 75,000 Accounts written off 40,000 Collections from customers 2,150,000 Estimated future sales return at December 31 50,000
WebView full document. Cynthia Company factored 750,000 of accounts receivable at year-end. Control was surrendered. The factor accepted the accounts receivable subject to … http://www.accountingmcqs.com/synthia-corp-factored-750000-of-accounts-receivabl-mcq-3241
WebTranscribed image text: Problem 8-17 (AICPA Adapted) Cynthia Company factored P750,000 of accounts receivable at year-end. Control was surrendered. The factor … WebOn December 31, Jordan Inc. received 50,000 on assigned accounts. Prepare Jordans journal entries to record the cash receipt and the payment to McLaughlin. arrow_forward On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to McLaughlin Company for cash.
WebOn June 30, Purple Company factored P200,000 of its accounts receivable to a finance company. The finance company charged a factoring fee of 5% of the accounts factored and withheld 20% of the amount factored. ... P3,700,685 c. P3,750, b. P3,700,000 d. P4,700, Assuming all receivables are collected, Binalonan Company’s cost of factoring …
WebControl was surrendered by Zeus Company. The factor accepted the accounts receivable subject to recourse for nonpayment. The fair value of the recourse obligation is … cinnamon indian lunch buffet in north njdiagram of asthma in the lungWebProblem Solving. Hail Chloe Company factored P750,000 of accounts receivable at year-end. Control was surrendered. Thefactor accepted … cinnamon indian restaurant crawleyWebOn December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to McLaughlin Company for cash. McLaughlin Company charges a 750 service fee, … diagram of a starter motorWebControl was surrendered by Zeus Company. The factor accepted the accounts receivable subject to recourse for nonpayment. The fair value of the recourse obligation is P100,000. The factor assessed a fee of 3% and retained This problem has been solved! You'll get a detailed solution from a subject matter expert that helps you learn core concepts. cinnamon indian restaurant grafhamWebCynthia Company factored P750,000 of accounts receivable at year-end. Control was surrendered. The factor accepted the accounts receivable subject to recourse for … diagram of a stone keep castleWebThe factor charged 15% commission on all accounts receivable factored and withheld 10% of the accounts factored as protection against customer returns and other adjustments. The entity had previously established an allowance for doubtful accounts of P200, 000 for the accounts Accounts factored. cinnamon indian tapas