What amount should be presented as Trade Accounts Receivable in the Statement of Financial Position as of December 31, 2017?A. 699,000B. 822,000C. 849,000D. 894,500 The Morning Star Corporation includes in its trial balance for December 31, 2017 Trade Accounts Receivableof P1,114,500. The balance consists of the following items:P 523,000Due from regular customers...Installment accounts receivable, including P150,000 collectible beyond2018, granted within theusual installment termsof the224,000220,00045,50075,00027,000P1,114,500company...Loans to officers...Advances to creditors for goods ordered.Accounts receivable assigned as security for loans payable.Notes receivable past due plus interest on these notes..Total..What amount should be presented as Trade Accounts Receivable in the Statement of Financial Position asof December 31, 2017?

Trade Receivable at the end of year 31st December 2017 Particulars Amount Due from Regular…

Answered: What amount should be presented as…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Орen High Low Prior settlement Last trade Change Volume Swiss Franc, USD per CHF, 125,000 CHF June 2015 1.0781 1.0935 1.0770 1.0782 1.0924 +0.0142 18,325 Sept. 2015 1.0899 1.0975 1.0899 1.0824 1.0965 +0.0141 17 The table above presents information available on a given date that is 1.20 months before the expiration for the June contract. Estimate the Swiss Franc spot price in USD per CHF on that given date. $1.0914 $1.0835 $1.0765 $1.0728
1 . PL Co purchased goods on credit from a US supplier costing $US 225,000 on 5th June 2020 when the exchange rate was A$1 = US0.69 . On 30 June 2020, balance date , the exchange rate was A$1 = US0.72 . PL Co paid the US supplier on 7th July 2020 when the exchange rate was A$1 = 0.74. Required : Prepare the journal entries for the above
1 - Enterprise A's FX safe balance is 1000 $ and the registered exchange rate is 4.60 TL. The entity made a year-end valuation. Since the announced rate is 4.70 TL, what is the registration to be made?A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 100 02 Dollars Case 100 646 Foreign Exchange Profit 100 B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 100 01 TL Case 100 646 Foreign Exchange Profit 100C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 100 02 Dollars Case 1100 646 Foreign Exchange Profit 1100D) THE CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 100 01 TL Cash 1100 646 Foreign Exchange Profit 1100E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 656 Foreign Exchange Loss 100 100 02 Dollars Case 100
Information for questions 12 and 13 The following are extracts from the financial statements of a company for the two years ended 31 December 2016 and 2017. Statement of financial position as at 31 December Inventory Trade receivables Cash and bank balances Bank overdraft Trade payables 2016 £000 590 275 25 200 1,218 1,536 2017 £000 465 425 76 450 710 2,728 Non-Current assets Non-Current liabilities 0 300 Issued £1 Ordinary Shares 5,000 5,500 The income statement for the year ended 31 December 2017 shows an operating profit of c) £1,265,000 d) £1,815,000 £1,500,000 after charging depreciation of £600,000 and a profit on disposal of a non-current asset of £52,000. Q12. The change in the company's cash and cash equivalents for the year ended 31 December 2017 was: a) Outflow £199,000 b) Inflow £1 16,000 c) Outflow £89,000 d) Inflow £51,000 Q13. The cash flow from operations of the company for the year ended 31 December 2017 was: a) £1,515,000 b) £1,619,000
H12.C6
18 - In the form of payment with acceptance credit, which is the journal entry to be made if the policies sent by the exporter are accepted by the importer?A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 121 02 RECEIVABLES-FC XX 601 01 FOREIGN GOODS SALES XX B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 120 02 FOREIGN BUYER XX 601 01 FOREIGN GOODS SALES XX C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 120 02 FOREIGN BUYER XX 121 02 RECEIVABLES-FC XX D) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 121 02 RECEIVABLES-FC XX 120 02 FOREIGN BUYER XXE) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 BANK X DTH XX 121 02 RECEIVABLES-FC XX
in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working!!!!!!!
How should the payment of GST of $100 of a New Zealand resident company be recorded in the company’s imputation credit account.
Adjusting Entry at Balance Sheet Date Yum! Brands, Inc. has the following receivables and payables denominated in foreign currencies, prior to closing on December 31. The spot rates at December 31 are also given. Item Current $ balance FC balance December 31 spot rate 1. Receivable $65,000 1,000,000 Mexican pesos $0.06 2. Receivable 165,000 225,000 Canadian dollars 0.75 3. Payable 556,000 400,000 Jordan dinar 1.41 4. Payable 56,000 200,000 Saudi Arabian riyal 0.27 Required Prepare the adjusting entry recorded by Yum! Brands at December 31. Description Debit Credit AnswerAccounts receivableCashExchange gainExchange loss? AnswerAccounts receivableCashExchange gainExchange loss? Accounts payable
23 - Our business, 27.06.202. On the date of purchase, $14,000 was exchanged at the exchange rate of $1 = 6.95. Which of the following calculations is correct in this situation? a) 646 Exchange Profits Hs. 97,300 TL (Creditor) B) 646 Exchange Profits Hs. 4.900 TL (Borrower) NS) 646 Exchange Profits Hs. 4.900 TL (Creditor) D) 656 Foreign Exchange Losses Hs. 4.900 TL (Creditor) TO) 656 Foreign Exchange Losses Hs. 4.900 TL (Borrower)
Do not give image format
How should the payment of FBT of $500 of a New Zealand resident company be recorded in the company’s imputation credit account.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

What amount should be presented as Trade Accounts Receivable in the Statement of Financial Position as of December 31, 2017? A. 699,000 B. 822,000 C. 849,000 D. 894,500