WebFairfax County Homepage Fairfax County WebCynthia Company factored P750,000 of accounts receivable at year-end. Control was surrendered. The factor accepted the accounts receivable subject to recourse for …
Did you know?
WebSynthia Corp. factored $750,000 of accounts receivable to Thomas Company on December 3, year 2. Control was surrendered by Synthia. Thomas accepted the … WebSynthia Corp. factored $750,000 of accounts receivable to Thomas Company on December 3, year 2. Control was surrendered by Synthia. Thomas accepted the receivables subject to recourse for nonpayment. Thomas assessed a fee of 2% and retains a holdback equal to 4% of the accounts receivable.
WebProblem 21-5 (AICPA Adapted) Cynthia Company factored P750,000 of accounts receivable at year-end. Control was surrendered. The factor accepted the accounts … WebPaisley Corporation sells $75,000 of receivables to a factor without recourse, receives 95% of the value of the factored accounts, and is charged a 10% commission based on the gross amount of the factored receivables. What journal entry does Paisley record for the sale? Cash 63,750 Receivable from Factor3,750 Factoring Expense7,500
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 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 …
WebProblem Solving. Hail Chloe Company factored P750,000 of accounts receivable at year-end. Control was surrendered. Thefactor accepted …
WebThe 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. flaming hot ranch cheetosWebBusiness 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. flaming hot powder recipeWebMazda company sold P5,800,000 in accounts receivable for cash of P5,000,000. The factor withheld 10% of the cash proceeds to allow for possible customer returns and … can pregnancy trigger hashimoto\u0027sWebCynthia Company factored 750.docx. Ramon Magsaysay Technological University - Main Campus, Iba, Zambales. ... The company pledged P500,000. Q&A. The inventory on hand at December 31, 2024 for Conrad Company is valued at a cost of P 947,800. The following items were not included in this inventory amount: Purchased goods in transit, shipped … flaming hot recipeWebFeb 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 … flaming hot seasoning ingredient listWebView full document. Cynthia Company factored 750,000 of accounts receivable at year-end. Control was surrendered. The factor accepted the accounts receivable subject to … can pregnancy symptoms stophttp://www.accountingmcqs.com/synthia-corp-factored-750000-of-accounts-receivabl-mcq-3241 can pregnancy trigger breast cancer