What would be recorded as a gain on transfer of receivables
Sun Inc assigns $2,000,000 of its accounts receivables as collateral for a $1 million 8% loan with a bank. Sun Inc. also pays a finance fee of 1% on the transaction upfront. What would be recorded as a gain (loss) on the transfer of receivables?
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At December 31, 2010, the estimated future costs to complete the project total $3,300,000. Prepare Turner's 2010 journal entries using the percentage-of-completion method.
a. A $1,000 bond has a 7.5 percent coupon and matures after 10 years. If current interest rates are 10 percent, what should be the price of the bond?
Blackstone, Inc. has a five-year bond outstanding that pays $60annually. The face value of each bond is $1,000, and the bond sells for $890. What is the bond's coupon rate?
Kindschuh Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.05 direct labor-hours. The direct labor rate is $9.90 per direct labor-hour. The production budget calls for producing 3,800 units
Compute the standard pounds of direct materials allowed for the production of 120,000 units. Compute the standard direct labor hours allowed for theproduction of 120,000 units.
Cardinals Corporation had a 1/1/14 balance in the Allowance for Doubtful Accounts of $20,000. During 2014, it wrote off $14,000 of accounts and collected $4,100 on accounts previously written off.
The cash account in the general ledger shows a balance of $90,000 before reconciliation. The bank statement does not include a deposit of $4,600 made on the last day of the month.
The machine hours for the month of April for all of the jobs was 4,780. What is the amount that will be applied to all of the jobs for the month of April?
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