The information taken from the books of Lyle Co. as of December 31, 2021 are the following: Trade accounts receivable - 2,000,000 Allowance for doubtful accounts - 100,000 Claim against shipper for goods lost in transit in November 2021 - 300,000 Selling price of unsold goods sent by Lyle Co. on consignment to Aly Co. at 150% of cost - 600,000 Security deposit on lease of warehouse - 200,000 How much should be shown as trade and other receivables at the current asset section of the statement of financial position on December 31, 2021?
The information taken from the books of Lyle Co. as of December 31, 2021 are the following: Trade accounts receivable - 2,000,000 Allowance for doubtful accounts - 100,000 Claim against shipper for goods lost in transit in November 2021 - 300,000 Selling price of unsold goods sent by Lyle Co. on consignment to Aly Co. at 150% of cost - 600,000 Security deposit on lease of warehouse - 200,000 How much should be shown as trade and other receivables at the current asset section of the statement of financial position on December 31, 2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The information taken from the books of Lyle Co. as of December 31, 2021 are the following:
Trade
Allowance for doubtful accounts - 100,000
Claim against shipper for goods lost in transit in November 2021 - 300,000
Selling price of unsold goods sent by Lyle Co. on consignment to Aly Co. at 150% of cost - 600,000
Security deposit on lease of warehouse - 200,000
How much should be shown as trade and other receivables at the current asset section of the
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