bank overdraft R22000, trade and other payables R99000, portion of loan to be paid next month R30000 and mortgage bond R180000. the total for current liabilities is
Q: Trew Company plans to issue bonds with a face value of $904,500 and a coupon rate of 6 percent. The…
A: Solution: Face value of bond = $904,500 Stated interest rate = 6% Market interest rate = 8.5% Period…
Q: Required: (a) The business needs to have a sense of its future cash flows and therefore requires the…
A: A statement of estimation of cash inflows into and outflows from a business for a specific period is…
Q: You are requested by a client on September 28 to prepare an insurance claim for a theft loss that…
A: Calculation of Gross profit Net sales = 50% + COGS Let COGS = X 51000 = 0.5X + X X = 51000/1.5 =…
Q: Required: (a) The business needs to have a sense of its future cash flows and therefore requires the…
A: The question is related to Cash Budget. Cash Budget is summary of cash receipts and cash payments…
Q: Compute cost of goods sold and gross profit using the FIFO inventory costing method and using the…
A: The inventory can be valued using various methods as LIFO, FIFO and weighted average method of…
Q: The famous singer
A:
Q: Debt-to-Capital = 0.27 + .15(PPE/Assets). If Krent Foods as a PPE/Assets ratio of 30% (and other…
A: Debt to Capital = 0.27+0.15 ( PPE/Assets) PPE/Assets Ratio=30% needs to calculate optimal debt…
Q: The auditor is not expected to, and cannot, reduce audit risk to zero and cannot therefore obtain…
A: Auditing: In accounting, auditing is the process of an auditor conducting an examination or…
Q: Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning…
A: Inventory valuation is based on the flow of exemption used by the company. There are many methods…
Q: Oriole Corporation has 74,000 shares of common stock outstanding It declares a $2 per share cash…
A: Dividends: Dividends means the distribution of the amount from the profit earned by the…
Q: 38. Disclosure requirements for lease by lessee include: a. General Information about the lease b. A…
A: A lease agreement refers to a deed involving two parties (known as lessor and lessee) to provide…
Q: Monty Corp. reports the following for the month of June. Units Unit Cost Total Cost…
A: GIVEN Monty Corp. reports the following for the month of June. Units Unit Cost…
Q: SALLAT Household Furnishings & Appliances is a family-owned business. You are the management…
A: The question is related to Cash Budget. Cash Budget is summary of cash receipts and cash payments…
Q: Last week, 13 Mexican pesos could purchase one U.S. dollar. This week, it takes 11 Mexican pesos to…
A: The change in the exchange rate of one currency with another currency influences the purchasing…
Q: The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as…
A: The cash flow statement is part of the financial statements of the company. It is prepared at the…
Q: The ledger of Teal Mountain Inc. at the end of the current year shows Accounts Receivable $74,000;…
A: Alternatively, 'Uncollectibles expense account' can be used in place of 'bad debts expense'.
Q: 1. (For items 1 and 2). Read and analyze the following transactions taken from the book of XYZ…
A: Journal entries: Journal entries are recorded for showing the monetary transactions initiated by a…
Q: SALLAT Household Furnishings & Appliances is a family-owned business. You are the management…
A: A cash budget is prepared by the management to determine the possible change in their flow of cash…
Q: How much is the primary balance?
A: Primary balance to the government is the balance which the government is having when all the…
Q: Q-4: Joel Turner owned 200 shares of GM convertible preferred stock at $20 par value. He converted…
A: The preferred stock are the shares which get the fixed rate of dividend before any other share gets…
Q: Festus, capital
A: The available cash is given as,
Q: The auditor is not expected to, and cannot, reduce audit risk to zero and cannot therefore obtain…
A: Auditor An auditor refers to the person who is responsible for reviewing the company’s financial…
Q: $ 15,100 4,500 Net cash provided by operating activities Net cash provided by investing activities…
A: Formula: Beginning cash balance = Ending cash balance - Net cash flows
Q: For each of the following events or transactions, identity the fund that will be affected. A city…
A: The monetary sources of the government of a nation which are used to finance the activities or…
Q: Why might be these journal entries considered fraudulent or suspicious? Explain the reasons for each…
A: First Quarter PROPERTY PLANT AND EQUIPMENT (PPE ACCOUNT HAS BEEN DEBITED WITH A COST OF 97,639 &…
Q: Cryan Jeep Tours operates jeep tours in the heart of the Colorado Rockies. The company bases its…
A: The revenue and spending variance is the difference between actual results and flexible budget of…
Q: 30. T/F. GAO stands for Government Accounting Office.
A: GAO is the the independent agency in the U.S that helps congress to carry out budget , financial ,…
Q: When Balance Sheets are being prepared, Assets and Liabilities are recorded at the current values,…
A: The correct answer for the above mentioned questions in the following steps for your reference.
Q: Write a concise answer between 350 to 400 words for each question.
A: Audit refers to the process of checking the financial records of a company. The process of auditing…
Q: During 2021, a company sells 359 units of inventory for $86 each. The company has the following…
A: Solution:- Calculation of Ending inventory using LIFO method as follows under :- Ending inventory…
Q: Smart Gear Ltd has been in business for many years supplying Tablet screens to wholesalers. The…
A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…
Q: a) The primary responsibility for the prevention and detection of fraud rests with both those…
A: This Question is an opinion based. Therefore the introductory sentences must be filled by…
Q: Consider the following scenario between Dave, a printer, and Steve, an assistant in the…
A: Accounting ethics is the practice of adhering to specific standards and rules defined by regulatory…
Q: Which of the following is a capital expenditure? Select one: a. Cleaning, waxing, and polishing a…
A: EXPENSES CAN BE DEFINED AS REVENUE AND CAPITAL EXPENDITURE . REVENUE EXPENDITURE ARE THISE WHICH ARE…
Q: Identify the most important reasons for performing analytical procedures. b) Describe the broad…
A: Analytical procedure is the procedure which is carried out by the auditors at the preliminary stage…
Q: Nevens Company uses a periodic inventory system. During November, the following transactions…
A: The cost of things on board at the end of a reporting period is referred to as ending inventory. The…
Q: The company has an ABC costing system in place and the following information is relevant.…
A:
Q: Alicia has been working for JMM Corporated for 32 years. Alicia participates in JMM’s defined…
A: Compensation: Compensation is the amount obtained by a worker or an employee in respect of the…
Q: 1.
A: As per the given question, it is needed to understand first that it has been asked What role do the…
Q: Sir please help urgently
A: Loan Instalment 773000 773000 Interest Rate 14% 3% Life 41 years 41 years Date of loan…
Q: On January 1, 20x4 Bobcat Coffee leased a smoothie machine from Smoothie LLC. Smoothie LLC purchased…
A: The above Lease Arrangement is an Operating Lease A Lease is classified as an Operating Lease if it…
Q: Taraz Company has assembled the following dato with respect to eight projects. Project 1. Initiol…
A: PI is the best measure to determine the best project basis the initial cost and cash inflows. PI=…
Q: Adams Company established a predetermined variable overhead cost rate at S10.00 per direct labor…
A: Formula: Variable overhead cost variance = Actual hours x ( standard - actual cost )
Q: Overhead Assignment: Actual and Normal Activity ComparedReynolds Printing Company specializes in…
A: Overhead costs, also known as waste or operational expenses, are corporate expenses that are not…
Q: Kamil, manager of a Dairy Products Division, was pleased with his division's performance over the…
A: According to the data given above, Initial investment of Proposal A = RM250,000 Cost of capital of…
Q: On June 1, Snow Company established a petty cash fund of $1,000 to pay for various office supplies.…
A: Petty Cash Book seems to be an accounting book being used tracking little and low-value costs such…
Q: Rachel Warren, an auditor with Laplante CPAs, is performing a review of Skysong, Inc.’s inventory…
A: Inventory: Inventory is a short term asset of a company which can be transformed into liquid cash…
Q: Foling espenses 275000 Average operang aets Shaders empy NOO w.m re wed ate of retum FON or the past…
A: Formula: Turnover = ( Sales value / Average operating Assets )
Q: Using the MACRS rates from the following table, what is the book value of a $3,500 computer after 3…
A: Answer:- Book value:- In accounting, the book value is that value of an asset which is based on its…
Q: REQUIRED: Prepare in proper format a Cash Flow Statement for Alexis Inc., using the indirect method.
A: In the given question, financial statement of Alexis Inc is mentioned in detail. With the available…
bank overdraft R22000, trade and other payables R99000, portion of loan to be paid next month R30000 and mortgage bond R180000. the total for current liabilities is
Step by step
Solved in 2 steps
if land and buildings are R100000, vehicles R75000, equipment 80000 and cash and cash equivalent R75000. the total for non-current assets is
by Bartleby Expert
- A bank makes an amortizing loan of $200,000 with a maturity of 8 years and equal payments every year. What is the principal outstanding at the end of year 6 if the interest rate is 6%? A $27,041.78 B $30,384.41 C $59,048.42 D $86,092.20Determine the dollar settlement of the 3 x 6 FRA for the amount $300,000 assuming (a) the settlement occurs on the date of loan initiation and (b) if settlement occurs on the date of loan repayment. Use the following data to carry out the calculations. Interest rates are expressed as stated annual interest rates.A 167 day simple interest loan for $10,456 has a maturity value of $10,961. What is the simple interest rate and the equivalent bank discount rate? Use Banker's Rule
- The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r. P = $2300, A = $2722, t = 6 months.A loan of $10,000 is taken out on November 7, 2020 at a simple interest rate of r = 9%. The loan will be paid back on May 11, 2021. If the bank uses ordinary interest (the Banker's Rule), how much interest is charged? a $450.00 b $456.16 c $443.84 d $462.50A loan is to be amortized by n level annual payments of X where n > 5. You are given (1) The amount of interest in the first payment is 604.00 (2) The amount of interest in the third payment is 593.75 (3) The amount of interest in the fifth payment is 582.45 Calculate X.
- USE THE FOLLOWING INFORMATION FOR THIS QUESTION: Installment note payable borrowed from the bank Present value interest factor from table Signed for Annual interest rate Payments are made 195,060 $7,802 $99,442 The outstanding loan balance at the end of year 3 equals what amount? $103,420 zero $287,000 unable to determine 2.77509 3 years 4% AnnuallyAn investor invests the following amounts of money in banks account R18850 on 1 September 2019,R15575on 31 May 2021 and R19465 ON 1 FEBRUARY 2023.From 1 October 2021 up to 30 April 2023 an amount of R980 invested at the start of every month. From 1 July 2020 up to 31 March 2022 an amount of RX is invested at the end of each quarter. On 1 January 2019 the total present value of all the investments is R75998,34.If the interest rate is 8,75% per year, Calculate the value of X?Problem 1 (Loans Receivable) Solid bank loan P5 million to a borrower on January 1, 2018. The terms of the loan require principal payments of P1 million each year for five years plus interest at 8%. The first principal and interest payment is due on January 1, 2019. The borrower made the required payments during 2019 and 2020. However, during 2020 the borrower began to experience financial difficulties, requiring the bank to reassess the collectability of the loan. On December 31, 2020, the bank has determined that this remaining principal will be collected as originally scheduled but the collection of the interest is unlikely. The bank did not accrue the interest on December 31, 2020. Question No. 1.1: What is the impairment loss for 2020? Question No. 1.2: What is the carrying amount of the loan receivable on December 31, 2021?
- Use the following information for the next two questions. BPI Davao provided the following information regarding its Loans Receivable at December 31, 2023: Loan A B C Gross CA P3,000,000 2,000,000 1,000,000 Lifetime ECL P300,000 400,000 500,000 12-month ECL P50,000 40,000 60,000 Credit risk assessment Low credit risk 31 days past due Credit-impaired The loss allowance that BPI Davao should recognize at December 31. 2023 is?Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Paid on Interest Rate Payment Paid Principal Balance 11.6% $425.57 $64.23 $361.34 $6,280.78 Fill out the amortization schedule below. Annual Interest Paid on Payment Balance Interest Rate Paid Principal 11.6% $425.57 $64.23 $361.34 $6,280.78 (Round to the nearest cent as needed.)Fl in an amortization table (in dollars) for a loan of $8,500 to be paid back over 2 years, at an annual interest rate of 1.3, compounded quarterly. For eech value in the table, round your answer to the nearest cent and use this value to calculate the next value. Payment number Payment amount Payment amount to interest Payment amount to debt Outstanding principal S0.500 13 14