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Zielflug [23.3K]
3 years ago
15

E7-16 (Transfer of Receivables with Recourse) Beyoncé Corporation factors $175,000 of accounts receivable

Business
1 answer:
alukav5142 [94]3 years ago
5 0

Answer:

a. Transfer or receivables with recourse should be recorded as a sale only when the following conditions are met:

  • The future economic benefits of the receivables have been surrendered by the transferor.
  • The transferor's obligation under the recourse provision can be reasonably estimated.
  • The transfer can require the transfer to repurchase the receivables.

b. attached as a dcoument of excel.

Explanation:

Entry journal corporation for beyonce Corporation in document attached.

Download xlsx
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3 years ago
He stockholders' equity section on the December 31, 2009, balance sheet of Chemfast Corporation reported the following amounts:
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Answer:

1.7900 shares

2.7300 shares

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Explanation:

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Total stockholders' equity in $=preferred stock+preferred stock additional paid in capital+common stock+retained earnings -treasury stock

Total stockholders' equity in $=165,900+15,400+590,000+26000-6300=$791,000

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3 years ago
All of the following statements regarding management accounting's role in assigning decision-making authority are true except: M
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Answer:

All statements are TRUE except Option "A"

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Accounting control history is used for policy-making objectives, and historical information is redundant.

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An action that makes an employee uncomfortable in any way is classified as ________________.
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The answer is B im pretty sure


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Read 2 more answers
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