Homework Answers
Oct 12. -. 8% note receivable a/c..Dr 30,500
To Ping co. 30,500
Dec 31. - Accrued Interest A/c......Dr 534
To Interest income receivable. 534
[30500*80/365]
(Interest accrued from October 12 to December 31)
Jan 10 - Bank A/c........Dr 31101
[30500(1+0.08*90/365)]
To Ping a/c. . 30500
To Accrued interest A/c. 534
To Interest income A/c. 67[30500*10/365]
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12 A AvA 02. (25 marks) Refer to the class lectus, how canabis estimate collectie Dee...
O Find V 12 A Ă BI U DAVA Ev styles Refer to the class lectures,...
O Find V 12 A Ă BI U DAVA Ev styles Refer to the class lectures, how can a business estimate uncollectible? Describe all the Accounting assumptions used in the process. On October 12, 2020, Solf Inc. received from one of its customers, Ping Co., a $30,500, 8% 90 day not receivable in granting a time extension on Ping's past due account receivable Golf Co. haspa December 31 year end. Ping Co. honoured the note at maturity. Prepare the entries...
M ENO QUESTION 3 (16 marks) A. On October 12, 2020, Golf Co. received from one...
M ENO QUESTION 3 (16 marks) A. On October 12, 2020, Golf Co. received from one of its customers, Ping Co., a $30,500,8% 90 day note receivable in granting a time extension on Ping's past due account receivable. Golf Co. has a December 31 year end. Ping Co. honoured the note at maturity. Prepare the entries for the issuance of the note, the end of year interest adjustment and the collection of the note at maturity (10 marks). Show calculations...
The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 Dec. 16 Accepte...
The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 Dec. 16 Accepted a $11,0ee, 60-day, 8% note in granting Danny Todd a time extension on his past-due account receivable 31 Made an adjusting entry to record the accrued interest on the Todd note Year 2 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16 Mar 2 Accepted a (n) $7,480, 8%, 9e-day note in granting a time extension on...
13 Problem 7-5A Analyzing and journalizing notes receivable transactions LO C2, C3, P4 The following selected...
13 Problem 7-5A Analyzing and journalizing notes receivable transactions LO C2, C3, P4 The following selected transactions are from Ohlm Company. (Use 360 days a year) 20 points 2016 Dec. 16 Accepted a $11,100, 60-day, 10% note dated this day in granting Danny Todd a time extension on his past-due Skipped account receivable. 31 Made an adjusting entry to record the acerved interest on the Todd note. edook 2017 Feb. 14 Received Todd's paynent of principal and interest on the...
The following selected transactions are from Ohm Company. (Use 360 days a year.) 2016 Dec. 16 Accept...
The following selected transactions are from Ohm Company. (Use 360 days a year.) 2016 Dec. 16 Accepted a $14,500, 60-day, 6% note dated this day in granting Danny Todd a time extension on his past due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. 2017 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a(n) $7,700, 6%, 90-day note dated this day in...
Expand Your Critical Thinking 12-02 a Columbia Sportswear Company’s financial statements are presented in Appendix B....
Expand Your Critical Thinking 12-02 a Columbia Sportswear
Company’s financial statements are presented in Appendix B. Click
here to view Appendix B. Financial statements of VF Corporation are
presented in Appendix C. Click here to view Appendix C. (a) Based
on the information contained in these financial statements,
compute free cash flow for each company. (Show a negative
free cash flow with either a - sign e.g. -15,000 or in parenthesis
e.g. (15,000). Enter amounts in thousands.)
.. . ......
You have been given the unadjusted trial balance for your company as of 12/31/19. Each company...
You have been given the unadjusted trial balance for your company as of 12/31/19. Each company prepares financial statements annually. Required Tasks: 1. Using the information in the Worksheet (1) tab, Aging Analysis (2) tab, and Adjustments (3) tab, prepare the adjusting journal entries for the period. Record the entries in the Adjusting Journal Entries (4) tab. (Round all numbers to the nearest dollar.) SHOW YOUR WORK FOR THE ADJUSTMENT IN THE CELL OR YOU WILL NOT RECEIVE CREDIT FOR...
MERCHANDISING ACOUNTING Joe Blink opened Blink Corporation. It has link Corporation. It has issued 20,000 shares...
MERCHANDISING ACOUNTING Joe Blink opened Blink Corporation. It has link Corporation. It has issued 20,000 shares of $4 par value common stock. It authorized 900,000 S od 900,000 share. The corporation is a merchandising business. Blink ventory system. Also Blink provides a 2-year warranty with one of its products which was first sold in October. Blink Corporation Trial Balance periodic inventory system September 30 Cr. Cash Dr. $ 54,000 14,000 Inventory Land 45,000 Plant Building 500,000 Accumulated Depreciation-plant Equipment 200,000...
MERCHANDISING ACOUNTING Joe B Joe Blink opened Blink Corporation. It has issued 20.000 shares of $4...
MERCHANDISING ACOUNTING Joe B Joe Blink opened Blink Corporation. It has issued 20.000 shares of $4 par value common stock. Blink anplies the authorized 900,000 share. The corporation is a merchandising business. Blink appies" periodic inventory system. Also Blink provides a 2 vear warranty with one of its produce which was first sold in October. Blink Corporation Trial Balance September 30 Dr. Cash Inventory Land $ 54,000 14,000 45,000 500,000 Plant Building Accumulated Depreciation-plant 200,000 4,000 Equipment 12,000 Accumulated depreciation--equipment...
Refer to the following financial statements and answer the following questions hints:- 13. cash provided (used)...
Refer to the following financial statements
and answer the following questions
hints:-
13. cash provided (used) by operating activities, investing
activities, and financing activities. 14. cash-based net income.
15. estimate of uncollectible accounts receivable. 16. calculate
and interpret accounts receivable ratio (most recent and prior
period).
hints:-
2:12 PM Wed Apr 15 39%). A 51.04cdn.com PART II NIKE, Inc. Consolidated Statements of Income in mWors, except per share data) Revenues Cost of sales Gross profit Demand creation expense Operating overhead...
O Find V 12 A Ă BI U DAVA Ev styles Refer to the class lectures, how can a business estimate uncollectible? Describe all the Accounting assumptions used in the process. On October 12, 2020, Solf Inc. received from one of its customers, Ping Co., a $30,500, 8% 90 day not receivable in granting a time extension on Ping's past due account receivable Golf Co. haspa December 31 year end. Ping Co. honoured the note at maturity. Prepare the entries...
M ENO QUESTION 3 (16 marks) A. On October 12, 2020, Golf Co. received from one of its customers, Ping Co., a $30,500,8% 90 day note receivable in granting a time extension on Ping's past due account receivable. Golf Co. has a December 31 year end. Ping Co. honoured the note at maturity. Prepare the entries for the issuance of the note, the end of year interest adjustment and the collection of the note at maturity (10 marks). Show calculations...
The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 Dec. 16 Accepted a $11,0ee, 60-day, 8% note in granting Danny Todd a time extension on his past-due account receivable 31 Made an adjusting entry to record the accrued interest on the Todd note Year 2 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16 Mar 2 Accepted a (n) $7,480, 8%, 9e-day note in granting a time extension on...
13 Problem 7-5A Analyzing and journalizing notes receivable transactions LO C2, C3, P4 The following selected transactions are from Ohlm Company. (Use 360 days a year) 20 points 2016 Dec. 16 Accepted a $11,100, 60-day, 10% note dated this day in granting Danny Todd a time extension on his past-due Skipped account receivable. 31 Made an adjusting entry to record the acerved interest on the Todd note. edook 2017 Feb. 14 Received Todd's paynent of principal and interest on the...
The following selected transactions are from Ohm Company. (Use 360 days a year.) 2016 Dec. 16 Accepted a $14,500, 60-day, 6% note dated this day in granting Danny Todd a time extension on his past due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. 2017 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a(n) $7,700, 6%, 90-day note dated this day in...
Expand Your Critical Thinking 12-02 a Columbia Sportswear
Company’s financial statements are presented in Appendix B. Click
here to view Appendix B. Financial statements of VF Corporation are
presented in Appendix C. Click here to view Appendix C. (a) Based
on the information contained in these financial statements,
compute free cash flow for each company. (Show a negative
free cash flow with either a - sign e.g. -15,000 or in parenthesis
e.g. (15,000). Enter amounts in thousands.)
.. . ......
You have been given the unadjusted trial balance for your company as of 12/31/19. Each company prepares financial statements annually. Required Tasks: 1. Using the information in the Worksheet (1) tab, Aging Analysis (2) tab, and Adjustments (3) tab, prepare the adjusting journal entries for the period. Record the entries in the Adjusting Journal Entries (4) tab. (Round all numbers to the nearest dollar.) SHOW YOUR WORK FOR THE ADJUSTMENT IN THE CELL OR YOU WILL NOT RECEIVE CREDIT FOR...
MERCHANDISING ACOUNTING Joe Blink opened Blink Corporation. It has link Corporation. It has issued 20,000 shares of $4 par value common stock. It authorized 900,000 S od 900,000 share. The corporation is a merchandising business. Blink ventory system. Also Blink provides a 2-year warranty with one of its products which was first sold in October. Blink Corporation Trial Balance periodic inventory system September 30 Cr. Cash Dr. $ 54,000 14,000 Inventory Land 45,000 Plant Building 500,000 Accumulated Depreciation-plant Equipment 200,000...
MERCHANDISING ACOUNTING Joe B Joe Blink opened Blink Corporation. It has issued 20.000 shares of $4 par value common stock. Blink anplies the authorized 900,000 share. The corporation is a merchandising business. Blink appies" periodic inventory system. Also Blink provides a 2 vear warranty with one of its produce which was first sold in October. Blink Corporation Trial Balance September 30 Dr. Cash Inventory Land $ 54,000 14,000 45,000 500,000 Plant Building Accumulated Depreciation-plant 200,000 4,000 Equipment 12,000 Accumulated depreciation--equipment...
Refer to the following financial statements
and answer the following questions
hints:-
13. cash provided (used) by operating activities, investing
activities, and financing activities. 14. cash-based net income.
15. estimate of uncollectible accounts receivable. 16. calculate
and interpret accounts receivable ratio (most recent and prior
period).
hints:-
2:12 PM Wed Apr 15 39%). A 51.04cdn.com PART II NIKE, Inc. Consolidated Statements of Income in mWors, except per share data) Revenues Cost of sales Gross profit Demand creation expense Operating overhead...
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