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djyliett [7]
3 years ago
13

Trell Corporation transferred $50,000 of accounts receivable to a local bank. The transfer was made without recourse. The local

bank remits 80% of the factored amount to Trell and retains the remaining 20%. When the bank collects the receivables, it will remit to Trell the retained amount less a fee equal to 3% of the total amount factored. Trell estimates a fair value of its 20% interest in the receivables of $8,000 (not including the 3% fee). Trell will show an amount receivable from factor of:
Business
1 answer:
ivann1987 [24]3 years ago
4 0

Answer:

$6500

Explanation:

Fair value of its 20% interest in the receivables = 8000  

Less: Factoring fee= 1500 =50000*3%

Amount receivable from factor= 6500

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Design a 700- to 1,050-word proposal for a process improvement or cultural change that would affect all levels of staff in the o
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3 0
2 years ago
What is the six steps in the IHOP to go order correct order list
Afina-wow [57]

Answer:

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5 0
4 years ago
In February, one of the processing departments at Whisenhunt Corporation had beginning work in process inventory of $35,000 and
Lerok [7]

Answer:

$426,000

Explanation:

In order to arrive at the cost to be accounted for, the cost incurred on the closing WIP (Work-In-Progress) and the units transferred out is added.

The cost incurred on the opening WIP is deducted whenever the cost to be accounted for is calculated.

Calculate the cost to be accounted for in the department as shown below.  

Cost to be accounted for = Closing WIP + Transferred out to department − Opening WIP

Given:

Closing WIP = $18,000

Transferred out to department  = $443,000

Opening WIP = $35000

Cost to be accounted for = $18000 + $443000 − $35000

=$426,000

​

8 0
4 years ago
Jack and jill have just had their first child. if college is expected to cost ​$180 comma 000180,000 per year in 1818 ​years, ho
oksano4ka [1.4K]
Given:
tuition: 180,000 per year
period to save: 18 years
annual rate of return : 6%

FV = PV * (1+r)^t
180,000 = PV * (1 + 0.06)¹⁸
180,000 = PV * (1.06)¹⁸
PV = 180,000 / (1.06)¹⁸ = 180,000 / 2.854 = 63,069.38

Jack and Jill will have to invest 63,069.38 in the first year to have a total of 180,000 after 18 years. 

Using Future Value Annuity formula:

FV of Annuity = P [{(1+r)^n - 1} / r]

180,000 = P [{(1.06)¹⁸ - 1} / 0.06]
180,000 = P (30.906)
P = 180,000 / 30.906
P = 5,824.11

Jack and Jill will have to deposit 5,824.11 every end of the year for the total to reach 180,000 after 18 years.
8 0
3 years ago
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