Homework Answers
I have answered the question below.
Please upvote for the same and thanks!!!
Do reach out in the comments for any queries
Answer:
Foreign Exchange risk
because it is an international customer subject to exchange risks and other risks such as political and even risks are mitigated because the government is stable. Also, there is no mention about the interest rates, so maturity risk is not a possibility.
Add Answer to:
Suppose aim has an accounts receivable from an international customer that incorporated in a country with...
From the accounts receivable ledger, prepare a schedule of accounts receivable for Jenn's Country Store as...
From the accounts receivable ledger, prepare a schedule of accounts receivable for Jenn's Country Store as of March 31, 20--, ACCOUNTS RECEIVABLE LEDGER Account Brandon Connors Post Date Item Ref. Debit 1 1652.00 10 12 Mar. J1 .00 12,317.00 12,317.00 Account Collin Deluca Date Item Ref. Debit Credit Mar. 10 12 1 15 1,401.00 3,664.00 1,401.00 2,263,00 12 2,263.00 Account Meghan Deutsch Date Item Post Balance Mar. 9 89.00 2,568.00 2,657.00 Account Carmen Perez Account Carmen Perez Date Post Ref....
Suppose that the estimate of uncollectible accounts is based on the aging of accounts receivable and...
Suppose that the estimate of uncollectible accounts is based on the aging of accounts receivable and that the Allowance for Uncollectible Accounts has a credit balance before the adjustment is made. Explain how this situation is handled.
CALCURATOM PRINTER VERSION BACK Brief Exercise 7-10 Marin Incorporated factored 5124,300 of accounts receivable with Head...
CALCURATOM PRINTER VERSION BACK Brief Exercise 7-10 Marin Incorporated factored 5124,300 of accounts receivable with Head and Factors Inc. on without recourse basis Head and assesses a 2 finance charge of the amount of accounts receivable and retains an amount equal to 5 of accounts receivable for possible adjustments Prepare the journal entry for Marin Incorporated and Head and Factors to record the factoring of the accounts receivable to Head and the entry is required, select "No Entry for the...
Brief Exercise 7-10 Sheridan Incorporated factored $163,900 of accounts receivable with Skysong Factors Inc. on a...
Brief Exercise 7-10
Sheridan Incorporated factored $163,900 of accounts receivable
with Skysong Factors Inc. on a without-recourse basis. Skysong
assesses a 2% finance charge of the amount of accounts receivable
and retains an amount equal to 6% of accounts receivable for
possible adjustments.
Prepare the journal entry for Sheridan Incorporated and Skysong
Factors to record the factoring of the accounts receivable to
Skysong. (If no entry is required, select "No Entry"
for the account titles and enter 0 for the...
February 15, 2020 at 12:32 PM Weir Incorporated has sales of $220,000 and accounts receivable of...
February 15, 2020 at 12:32 PM Weir Incorporated has sales of $220,000 and accounts receivable of $19,500. You can easily show that its DSO is well over the industry average of 27 days. Suppose that it speeds up collection, matches the industry average, and manages to earn 7% interest on the cash not tied up in receivables. What would be the savings per year? Assume that sales are not affected by the tighter credit. A)-$277.26 B)-225.82 C)-$244.04 D) -$256.44 E)-$296.44
LE 2. The Carnival Company has a receivable from a foreign customer that is payable in...
LE 2. The Carnival Company has a receivable from a foreign customer that is payable in the local currency of the foreign customer. The account receivable for 800,000 local currency units (LCU) bas been translated into $280.000 on Carnival's December 31, 2014, balance sheet. On January 15, 2015, the receivable was collected in full when the exchange rate was 4 LCU to $1. What journal entry should Carnival make to record the col lection of this receivable? (a) Cash 200,000...
TRANSACTION Suppose on February 1, 2014 Bikram Yoga Natick collects $17 from a walk-in customer. ACCOUNTS...
TRANSACTION Suppose on February 1, 2014 Bikram Yoga Natick collects $17 from a walk-in customer. ACCOUNTS CASH REVENUE OTHER PREPAID EXPENSES ACCOUNTS PAYSLE ACCOUNTS RECEIVABLE = ASSETS LIABILITIES + OWNERS' EQUITY
Seaforth International wrote off the following accounts receivable as uncollectible for the year ending December 31:...
Seaforth International wrote off the following accounts receivable as uncollectible for the year ending December 31: Customer Amount Kim Abel $24,500 Lee Drake 31,000 Jenny Green 29,700 Mike Lamb 17,900 Total $103,100 The company prepared the following aging schedule for its accounts receivable on December 31: Aging Class (Number of Days Past Due) Receivables Balance on December 31 Estimated Percent of Uncollectible Accounts 0–30 days $740,000 1% 31–60 days 300,000 2 61–90 days 110,000 15 91–120 days 70,000 30 More...
(1) Suppose the country of Rotherham is targeted by Home country tariffs. Some possible consequences of...
(1) Suppose the country of Rotherham is targeted by Home country tariffs. Some possible consequences of these tariffs include a.Rotherham residents make fewer visits to the Home country, so they buy fewer Home country products b. the Rotherham government imposes tariffs on Home country products c. Home country firms doing business in Rotherham get treated more harshly by the Rotherham government d. both B and C e.A and B and C (2) There is always a loss of world Total...
a. Accounts Receivable. At year-end, the Krug Company has completed services of $25,500 for a client,...
a. Accounts Receivable. At year-end, the Krug Company has completed services of $25,500 for a client, but the client has not yet been billed for those services. b. Interest Receivable. At year-end, the company has earned, but not yet recorded, $650 of interest earned from its investments in government bonds. c. Accounts Receivable. A painting company collects fees when jobs are complete. The work for one customer, whose job was bid at $1,820, has been completed, but the customer has...
From the accounts receivable ledger, prepare a schedule of accounts receivable for Jenn's Country Store as of March 31, 20--, ACCOUNTS RECEIVABLE LEDGER Account Brandon Connors Post Date Item Ref. Debit 1 1652.00 10 12 Mar. J1 .00 12,317.00 12,317.00 Account Collin Deluca Date Item Ref. Debit Credit Mar. 10 12 1 15 1,401.00 3,664.00 1,401.00 2,263,00 12 2,263.00 Account Meghan Deutsch Date Item Post Balance Mar. 9 89.00 2,568.00 2,657.00 Account Carmen Perez Account Carmen Perez Date Post Ref....
CALCURATOM PRINTER VERSION BACK Brief Exercise 7-10 Marin Incorporated factored 5124,300 of accounts receivable with Head and Factors Inc. on without recourse basis Head and assesses a 2 finance charge of the amount of accounts receivable and retains an amount equal to 5 of accounts receivable for possible adjustments Prepare the journal entry for Marin Incorporated and Head and Factors to record the factoring of the accounts receivable to Head and the entry is required, select "No Entry for the...
Brief Exercise 7-10
Sheridan Incorporated factored $163,900 of accounts receivable
with Skysong Factors Inc. on a without-recourse basis. Skysong
assesses a 2% finance charge of the amount of accounts receivable
and retains an amount equal to 6% of accounts receivable for
possible adjustments.
Prepare the journal entry for Sheridan Incorporated and Skysong
Factors to record the factoring of the accounts receivable to
Skysong. (If no entry is required, select "No Entry"
for the account titles and enter 0 for the...
February 15, 2020 at 12:32 PM Weir Incorporated has sales of $220,000 and accounts receivable of $19,500. You can easily show that its DSO is well over the industry average of 27 days. Suppose that it speeds up collection, matches the industry average, and manages to earn 7% interest on the cash not tied up in receivables. What would be the savings per year? Assume that sales are not affected by the tighter credit. A)-$277.26 B)-225.82 C)-$244.04 D) -$256.44 E)-$296.44
LE 2. The Carnival Company has a receivable from a foreign customer that is payable in the local currency of the foreign customer. The account receivable for 800,000 local currency units (LCU) bas been translated into $280.000 on Carnival's December 31, 2014, balance sheet. On January 15, 2015, the receivable was collected in full when the exchange rate was 4 LCU to $1. What journal entry should Carnival make to record the col lection of this receivable? (a) Cash 200,000...
TRANSACTION Suppose on February 1, 2014 Bikram Yoga Natick collects $17 from a walk-in customer. ACCOUNTS CASH REVENUE OTHER PREPAID EXPENSES ACCOUNTS PAYSLE ACCOUNTS RECEIVABLE = ASSETS LIABILITIES + OWNERS' EQUITY
a. Accounts Receivable. At year-end, the Krug Company has completed services of $25,500 for a client, but the client has not yet been billed for those services. b. Interest Receivable. At year-end, the company has earned, but not yet recorded, $650 of interest earned from its investments in government bonds. c. Accounts Receivable. A painting company collects fees when jobs are complete. The work for one customer, whose job was bid at $1,820, has been completed, but the customer has...
Most questions answered within 3 hours.
-
A random sample of 120 observations produces a mean of
38.2 from a population with a...
asked 5 minutes ago -
The average area of land burned by forest fires every year in
Canada is 2.5 million...
asked 7 minutes ago -
36. The basic difference between government bureaus and market
firms is that bureaus:
a. can...
asked 7 minutes ago -
java
- A recursive method findR() to search for a number in list
(ArrayList)
- A...
asked 26 minutes ago -
Which of the following is an example of a screen against adverse
selection? [Mark All That...
asked 25 minutes ago -
A worker drives a 0.560 kg spike into a rail tie with a 2.76 kg
sledgehammer....
asked 30 minutes ago -
Assume the following information concerning two stocks that make
up an index. What is the price-weighted...
asked 33 minutes ago -
Suppose a firm has a retention ratio of 58 percent and net
income of $9.2 million....
asked 35 minutes ago -
1.A greater horizontal separation between the shallow and higher depth epicenters is indicative of:
A a...
asked 37 minutes ago -
(1). Which of the following molecules is most soluble
in hexane, C6H14?
NH3
CH3NH2
CH3OH
CH3CH3...
asked 35 minutes ago -
Calculate the speed of sound in water vapour (only) at 20 bar
and 350oC utilizing (a)...
asked 56 minutes ago -
Is the following operation of semaphore correct, please
explain.
signal (mutex) …. wait
(mutex)
Note:
wait...
asked 58 minutes ago