What will be the inventory Cost that was valued at 286000 valued at .And obsolete cost is 8400

Mountain High Ice Cream Company transferred $65,000 of accounts receivable to the Prudential Bank. The transfer was made with re

Liono4ka [1.6K]

Answer:

Dr Cash 56,550

Dr Receivable from factor 5,500

Dr Loss on sale of receivables 6,450

Cr Accounts receivables 65,000

Cr Recourse liability 3,500

Explanation:

cash = ($65,000 x 90%) - factoring fees = $58,500 - $1,950 = $56,550

factoring fees = $65,000 x 3% = $1,950

loss on sale of receivables (includes factoring fees) = (accounts receivables + recourse liability) - (cash + receivable from factor) = ($65,000 + $3,500) - ($56,550 + $5,500) = $68,500 - $62,050 = $6,450

3 0

3 years ago

Read the following scenario. An urban area in southern Texas is rapidly growing. The population has almost doubled over the past

Alex73 [517]

I'm not 100% sue but I think the answer is option D: District boundaries will remain the same, but the voting pattern will shift from Republican to Democratic. Hope this helps!

7 0

3 years ago

With respect to how economists study the economy, which of the following statements is most accurate? a) Economists study the pa

vampirchik [111]

Answer:

Option (c) is correct.

Explanation:

Economists refers to the people who are doing research, analyzing data and measure the qualitative activities in terms of money.

For research perspective, one should have proper knowledge about the research problem that he or she need to address in his or her research. Then he should collect the reliable and accurate data for the analysis. Data is very important for a particular research study.

Once the data is ready to analyze then the economists run the data and interpret the results.

5 0

3 years ago

A delivery company purchased a bunch of new trucks three years ago for $6 million. These trucks can be sold today for $5.3 milli

mafiozo [28]

Answer:

The net book value of the company = $3,415,000

Explanation:

The historical cost concept states that assets should be stated at their historical cost. Under this concept, the value of a company is the the net-book value of its assets. The net book value of an asset is its historical cost less the accumulated depreciation to date.

The book value of the delivery company

Net fixed assets $3, 200,000

Net working capital $215,000

Total book value  $3,415,000

The net book value of the company = $3,415,000

4 0

3 years ago

Zen Electronics has taken a penetration pricing approach to launch its new line of mobiles. Therefore, Zen is most likely to ___

Serjik [45]

Answer:

initially charge a relatively low price per product

Explanation:

A penetration pricing approach is a strategy in which an organization establishes a low price for a new product at the beginning to attract customers and then, the price is raised. According to this, the answer is that Zen is most likely to initially charge a relatively low price per product.

6 0

3 years ago

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What will be the inventory Cost that was valued at 286000 valued at.And obsolete cost is 8400​

What will be the inventory Cost that was valued at 286000 valued at.And obsolete cost is 8400