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Leona [35]
3 years ago
7

Pina Colada Furniture factors $670000 of receivables to Sheffield Factors, Inc. Sheffield Factors assesses a 2% service charge o

n the amount of receivables sold. Pina Colada Furniture factors its receivables regularly with Sheffield Factors. What journal entry does Pina Colada make when factoring these receivables
Business
1 answer:
Reika [66]3 years ago
3 0

Answer and Explanation:

The journal entry is shown below;

Cash $656,600

Factoring charges (2% of $670,000)  $13,400

            To Trade Receivables $670,000

(Being recording these receivables)

Here cash and factory charges is debited as it increased the assets and expense while the trade receivable is credited as decreased the assets

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Zoning ordinances have changed in the area adjacent to a residential neighborhood. The residents are incensed a retail shopping
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Answer:

All of the above

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3 years ago
Imagine you've just gotten the first glimpse at your upcoming report card or transcript. 1. What are your steps for reviewing it
ludmilkaskok [199]

Answer:

Steps to Reviewing it:

  1. Look for the unweighted and Total GPA
  2. Look at the individual grades for the various subjects by semester then by GP.
  3. Look at the explanation of marks
  4. Finally look at the comments made on the report

Sections drawn to:

  • Total GPA
  • Grades in certain courses such as Computer Science, Commerce and Chemistry.
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Important to me

  • That I pass all my subjects as much as possible and cause my teachers less grief.

Important to my parents

  • That I pass all my subjects by the best margins possible.

Actions if something looks wrong:

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4 0
3 years ago
Depreciation on factory equipment would be reported in the statement of cash flows prepared by the indirect method in.
ohaa [14]

Depreciation on factory equipment would be reported in the statement of cash flows prepared by the indirect method in the cash flows from investing activities section.

What is depreciation?

Depreciation is an accounting technique that distributes an asset's cost throughout its anticipated useful life. Depreciation is a recurring expense that businesses report on their income statement. Assets degrade with time, losing value.

Which activities are reported on the statement of cash flows?

Transactions must be divided into the three categories of operating, investing, and financing activities that are shown on the statement of cash flows.

Learn more about cash flow statement: brainly.com/question/15278261

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2 years ago
A production possibilities frontier identifies the dollar cost of producing a good or service in an economy. True or False
belka [17]

Answer:

A production possibilities frontier identifies the dollar cost of producing a good or service in an economy.

True

Explanation:

Cost of producing could be envisaged through budgeting where the variable cost, fixed cost and total cost is expected to be calculated either through rough estimate.

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3 years ago
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