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olga2289 [7]
2 years ago
12

Patel Inc. factors $6,000,000 of its accounts receivables with recourse for a finance charge of 3%. The finance company retains

an amount equal to 10% of the accounts receivable for possible adjustments. Patel estimates the fair value of the recourse liability at $300,000. What would be recorded as a loss on the transfer of receivables
Business
1 answer:
VMariaS [17]2 years ago
4 0

Answer:

the loss that should be recorded is $480,000

Explanation:

The computation of the amount that recorded as a a loss on the receivable transfer is shown below:

= Account receivable × finance charge + estimation of the  fair value of the recourse liability

= $6,000,000 × 3% + $300,000

= $180,000 + $300,000

= $480,000

hence, the loss that should be recorded is $480,000

We simply applied the above formula so that the correct value could come

And, the same is to be considered

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Answer:

A. avoids central tendency and biases

Explanation:

5 0
2 years ago
North Side Wholesalers has sales of $948,000. The cost of goods sold is equal to 68 percent of sales. The firm has an average in
Masteriza [31]

Answer:

13 days

Explanation:

We are to calculate the days of inventory on hand.

Days of inventory on hand = number of days in a period/ inventory turnover

Inventory turnover = Cost of goods sold / average inventory

Cost of goods sold = 0.68 x $948,000 = $644,640

Inventory turnover = $644,640 / $23,000 = 28.027826

Days of inventory on hand = 365 / 28.027826 = 13.02 days

I hope my answer helps you

5 0
3 years ago
Kaspar Corporation makes a commercial-grade cooking griddle. The following information is available for Kaspar Corporation’s ant
Andrej [43]

Based on the costs incurred by Kasper Corporation to make the commercial-grade cooking griddle, the total cost per unit is <u>$55.00.</u>

<h3>What is Kaspar Corporation's cost per unit?</h3>

This can be found as:
= Direct materials + Direct labor +  Variable manufacturing overhead  + Fixed manufacturing overhead per unit + Variable selling and administrative expenses + Fixed selling and administrative expenses per unit

Solving gives:

= 17 + 8 + 11 + (300,000 / 30,000) + 4 + (150,000 / 30,000)

= $55

Find out more on the total cost of produced units at brainly.com/question/18089483.

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6 0
1 year ago
Suppose you manage a convenience mart and are in charge of ordering products but do not set the price. The home office provides
lakkis [162]

Answer:

c) 10% more peanut butter on the shelves

Explanation:

Since peanut butter has a negative income elasticity of demand (-0.5) with a decrease in income, there should be an increase in the demand. This is usually true for cheaper goods or goods with low added value. The change in demand (D) is represented as follows:

D=20\% * 0 .5\\D=10\%

As a result, you should stock 10% more peanut butter on the shelves.

The answer is c).

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2 years ago
Political forces that affect transportation businesses
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It is important to note that politics and the economy have effects on the transportation industry, as the industry is ever changing with new policies, regulations, or capacity issues.

Politicians and the policies they create dictate the US economy, effecting all industries. It is seen that the transportation industry saw effects because of the trade and tariff wars. The overall regulations depend largely on the economic and political outlook of the party in power.

For instance, a government that is inclined to pursue neo-liberal policies,  could pass more legislations favoring industries and big businesses, while a government inspired by socialism could push policies favoring small businesses.

Hence, the answer was given and explained above.

To learn more about politics and political party here:

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