Business, 15.04.2020 01:51 RayOfSunsh1ne
Sandburg Company requires additional cash for its business. Sandburg has decided to use its accounts receivable to raise the additional cash and has asked you to determine the income statement effects of the following contemplated transactions.
1. On July 1, 2017, Sandburg assigned $400,000 of accounts receivable to Keller Finance Company. Sandburg received an advance from Keller of 80% of the assigned accounts receivable less a commission of 3% on the advance. Prior to December 31, 2017, Sandburg collected $220,000 on the assigned accounts receivable, and remitted $232,720 to Keller, $12,720 of which represented interest on the advance from Keller.
2. On December 1, 2017, Sandburg sold $300,000 of net accounts receivable to Wunsch Company for $270,000. The receivables were sold outright on a without recourse basis.
3. On December 31, 2017, an advance of $120,000 was received from First Bank by pledging $160,000 of Sandburg's accounts receivable. Sandburg's first payment to First Bank is due on January 30, 2018.
Required:
1. Prepare a schedule showing the income statement effects for the year ended December 31, 2014, as a result of the above facts.
Answers: 1
Business, 22.06.2019 12:50
Jallouk corporation has two different bonds currently outstanding. bond m has a face value of $50,000 and matures in 20 years. the bond makes no payments for the first six years, then pays $2,100 every six months over the subsequent eight years, and finally pays $2,400 every six months over the last six years. bond n also has a face value of $50,000 and a maturity of 20 years; it makes no coupon payments over the life of the bond. the required return on both these bonds is 10 percent compounded semiannually. what is the current price of bond m and bond n?
Answers: 3
Business, 22.06.2019 20:00
Describe a real or made-up but possible example of a situation where an employee faces a conflict of interest. explain at least two things the company could do to make sure the employee won't be tempted into unethical behavior by that conflict of interest. (3.0 points)
Answers: 3
Business, 23.06.2019 00:30
Considered to be a "super tool" or tool that has high use and high potential for improving project success?
Answers: 3
Sandburg Company requires additional cash for its business. Sandburg has decided to use its accounts...
Mathematics, 12.11.2020 03:30
Mathematics, 12.11.2020 03:30
Mathematics, 12.11.2020 03:30
Spanish, 12.11.2020 03:30
English, 12.11.2020 03:30
English, 12.11.2020 03:30
Mathematics, 12.11.2020 03:30
Spanish, 12.11.2020 03:30
Mathematics, 12.11.2020 03:30
Mathematics, 12.11.2020 03:30
Mathematics, 12.11.2020 03:30
Chemistry, 12.11.2020 03:30
English, 12.11.2020 03:30
Mathematics, 12.11.2020 03:30
Biology, 12.11.2020 03:30
Mathematics, 12.11.2020 03:30
English, 12.11.2020 03:30