Question: 3-24 Lake Co. receives non-refundable advance payments with special orders for containers constructed to customer specifications. Related information for 2009 is as follows ($ in millions): Customer advances balance Dec 31, 2008 $110 Advances received with 2009 orders Advances applicable to orders in 2009 $195 $180 Advances from orders cancelled in 2009 $45 What amount should Lake report as a current liability for advances from customers in its Dec. 31, 2009, balance sheet?

M Corp. receives advance payments with special orders for containers constructed to customer specifications. Related information for 2022 is as follows ($ in millions):          Customer advances balance, Dec. 31, 2021 $ 100   Advances received with 2022 orders   204   Advances applicable to orders shipped in 2022   189   Advances from orders canceled in 2022   53      What amount should M Corp. report as a current liability for advances from customers in its December 31, 2022, balance sheet?   Multiple Choice   $62 million.   $0.   $304 million.   $115 million.

Brief Exercise 8-4 (Part Level Submission) At the end of 2019, Sheffield Corp. has accounts receivable of $739,200 and an allowance for doubtful accounts of $67,900. On January 24, 2020, the company learns that its receivable from Megan Gray is not collectible, and managernent authorizes a write-off of $6,500. > (a) v (b) X Your answer is incorrect. Try again. What is the cash realizable value of the accounts receivable (1) before the write-off and (2) after the write-off? Before Write-Off After WWrite-Off Cash realizable value 671100 671100 SHOW LIST OF ACCOUNTS

Problem 6-6 (AICPA Adapted) On January 1, 2021, Remarkable Company had the following account balances: Note receivable from sale of an idle building Note receivable from an officer 7,500,000 2,000,000 The P7,500,000 note receivable is dated May 1, 2020, bears interest at 9% and represents the balance of the consideration received from the sale of an idle building to Solid Company. Principal payments of P2,500,000 plus interest are due annually beginning May 1, 2021. Solid Company made the first principal and interest payment on May 1, 2021. The P2,000,000 note receivable is dated December 31, 2018, bears interest at 8% and is due on December 31, 2023. The note is due from the president of Remarkable Company. Interest is payable annually on December 31 and all interest payments were made through December 31, 2021. On July 1, 2021, Remarkable Company sold a parcel of land to Boom Company for P4,000,000 under an installment sale contract. Boom Company made a P1,200,000 cash down payment…