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Mini Corporation factored, with recourse, $600,000 of accounts receivable with Huskie Financing. The agreement met all three con

tatiyna

Answer:

Assets:

Cash (600,000x92%) I552000

Due from factor I18000

Accounts receivable D600000

Liabilities:

Recourse obligation I14400

Equity:

Loss on sale of receivable D44400

Explanation:

First, we have to calculate Loss on Sale of Receivable

Accounts receivable factored 600,000

Finance charge (8% -3%) 5%

Finance charge on receivables (600,000 x 5%) 30,000

Hold back (%) 3%

Due from factor (600,000 x 3%) 18,000

Recourse obligation (600,000 x 2.4%) 14,400

Loss on Sale of Receivable (30,000 + 14,400) 44,400

Now, we show the effect of factoring:

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Assets Liabilities Equity

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Cash (600,000x92%) I552000 Recourse obligation I14400 Loss on sale of receivable D44400

Due from factor I18000

Accounts receivable D600000

Hope this helps!

6 0

3 years ago

How do macroeconomists distinguish between nominal and real values of variables?

lesantik [10]

I believe the answer is: c. nominal variables are measured in market prices; real variables are measured in quantities of goods and services.

the nominal value of a certain good would be fluctuated (could either increased or decreased) depending on the power of the supply and demand in the market. the real value on the other hand is valued using the price of a base year.

7 0

3 years ago

The decision concerning how the dollars left over from a defense cutback will be distributed is an example of

andrew11 [14]

The decision concerning how the dollars left over from a defense cutback will be distributed is an example of a goal conflict. The idea behinf the term goal conflict is that <span>sometimes it is difficult to achieve our </span>goals<span> because they </span><span>conflict</span>

7 0

4 years ago

WILL MARK BRAINLY

vfiekz [6]

Answer:

The answer is C. wholesaler.

Explanation:

According to Edmentum, "Wholesalers purchase goods from various producers and stock them. Then, they sell stocks of goods to different retailers according to their requirement."

6 0

3 years ago

Read 2 more answers

By examining the spreadsheet below, what part of the financial plan might be missing? A 2-column spreadsheet showing Cash Inflow

vitfil [10]

The correct statement is that in the spreadsheet below, a financial plan for protecting assets is missing. So, the correct option is C.

A financial plan for protection of assets is advisable for such individual for better insurance against any unwanted losses or damages to property(s).

<h3>Financial Plan</h3>

A financial plan refers to as the interpretation and conclusion of a cash flow after ascertaining the inflows and outflows of the firm.

The above cash flow statement shows that the spending have not been done on premiums for insurance for protection of assets of the individual.

There seems a requirement for the financial plan to be made in such a way that a part of expenditure outflow is done towards insuring the assets.

Hence, the correct option is C that in the spreadsheet below, a financial plan for protecting assets is missing.

Learn more about Financial Plan here:

brainly.com/question/1323646

4 0

3 years ago

Read 2 more answers