ABC Company has several subsidiaries that are included in its consolidated financial statements. In its December 31, year 1 trial balance. ABC had the following intercompany balances before eliminations: In its December 31, year 1 consolidated balance sheet, what amount should ABC report as intercompany receivables?
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ABC Company has several subsidiaries that are included in its consolidated financial statements. In its December 31, year 1
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- Interest Revenue on the income statement is $3.900, beginning Interest Receivable is $360, ending Interest Receivable is $420, and Net Sales Revenue is $31,800. What is the cash receipt for interest? OA. $27,860 OB $3,100 OC. $3,140 OD. $3.86014 - Entity A sold its registered $ 1000 at a rate of 4.60 TL at a rate of 4.65 TL. Which of the following accounts is correct in the journal entry to be made?A) 100 02 DOLLAR CASH ACCOUNT RECEIVABLE 4600 TLB) NoneC) 656 EXCHANGE LOSS ACCOUNT DEBTED 150 TLD) 100 01 TL CASH ACCOUNT RECEIVABLE 4.650 TL E) BORROWED 646 EXCHANGE PROFIT ACCOUNT 50 TLAt what amount will accounts receivable be reported on the balance sheet if the gross receivable balance is $100,000 and the allowance for uncollectible accounts is estimated at 6% of gross receivables? a. $94,000 b. $60,000 c. $106,000 d. $100,000
- MC Qu. 12-154 Southview Company's interest revenue for the... Southview Company's Interest revenue for the period is $14,600 and the beginning and ending Interest recelvable balances are $1,620 and $6,200, respectively, cash recelved for Interest Is: Multiple Cholce $8.400. $10,020. $14,600. $19,100.U. PunUS IOW SIalement Ans: (a) Decrease in WC Rs. 7,000 (b) FFS Rs. 1,08,000; FFO Rs 19. 2073 Set D QNo. 16 Following information are given: Particulars Inventories Debtors General reserve Creditors Cash Year 1 (Rs.) 80,000 2,50,000 20,000 70,000 1,00,000 20,000 Year 2 (Rs. 1,00,000 2,00,000 40,000 1,00,000 1,40,000 25,000 Expenses payable Additional Information: Profit of the year: Rs. 80,000 i. Provision for tax: Rs. 10,000 Required: a. ii. Depreciation on fixed assets: Rs. 20,000 iv. Profit on sales of fixed assets: Rs. 5,000 Schedule of changes in working capital b. Funds from operation Ans: (a) Decrease in WC Rs. 25,000 (b) FFO Rs. 1,05, 20. 2072 Supp Q.No. 16 The following figures are extracted from the two years balance sheet of a company: Year 1 Year 2 Rs. 6,00,000 Rs. 1,50,000 Rs. 5,000 Particulars Share capital Fixed assets Rs. 5,00,000 Rs. 1,00,000 Goodwill Rs. 10,000 Additional Informátion: Net profit: Rs. 75,000 ii. Purchases of fixed assets: Rs. 70,000 Loss on fixed…ADBRI Limited (ABC, formerly Adelaide Brighton Limited) is an integrated construction material and lime producing group of companies focused on the construction, engineering, infrastructure and resource sectors in Australia. ABC has three main operating divisions being: Cement, Lime, Concrete and Aggregates and Concrete Masonry Products. Acrow (ACF, formerly NMG Corporation Limited) operates in the Australian construction services industry, hiring formwork, falsework and scaffolding equipment and undertaking sales of formwork and scaffolding related consumables. The Formwork operation involves the supply of the temporary mould that supports concrete structures in their construction. The Scaffolding operation supplies scaffolding equipment and access solutions to builders and building contractors when working at heights. Below are extracts of ACF and ABC Limited's income statements and balance sheets for 2020. Item ACF ABC Limited Income Statement Income Statement Operating Revenue…
- Problem 84 (LAA) Summa Company revealed the following account balances on December 31, 2020 Accota payable Accounta receivable, net of allowance for doubtful accounts PS0.000 Accrued taxes Aecrued interest receivable Autherined sbare capital, 60,000 aharea. P100 par Building, net ofaccumulated depreciation of P500,000 3,000.000 Cash on hand Cash in bank Bond sinking fund Furniture and equipment, net ofaccumulated depreciation of P900,000 Iaventory Investment property Land Deferred tax liability Bonds payable due June 30, 2021 Notes payable Notes reoeivable Patent Ocher accrued liabilities Prepaid expenses Share premium Retained earninge appropristed for contingencies Retained eantings Share ubecription receivable Subscribed share capital E000 shares Unianoed share capital 1000,000 50.000 30,000 5,000.000 50.000 650.000 2000.000 1,500,000 1,200,000 700.000 1,000,000 650.000 2.000.000 850.000 200,000 370,000 150,000 100,000 300,000 200,000 2.700,000 500,000 L000,000 2.000,000 Required:…OkyOTcw/a/MjUwNDEyNDM20TEx/details Particulars Credit (RM) 48,400 Debit (RM) Capital Drawings Trade receivables Trade payables Sales Purchases Sales returns Purchases retums Wages and salaries Discounts allowed Discounts received Provision for doubtful debts Insurance Inventory as at 1 September 2018 Utilities 3,500 9,000 12,500 40,400 31,000 300 250 5,600 120 200 300 700 2,400 950 350 10,000 3,000 20,000 Rates Premises Fixtures and fittings Motor van Cash in hand Cash at bank TOTAL 330 14,800 102.050 102.050 Additional information as at 31 August 2019: i. Inventory as at 31 August 2019 amounted RM3,300 ii. An entity from whom there is accounts receivables of RM200 was unable to settle his debt and this amount is to be written off as bad debts. iii. The provision for doubtful debts is 1% of the outstanding trade receivables. iv. The owner took RM100 worth of goods from the business for his own use Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year…Make the cost of goods sold and balance sheet Cash ₱ 5,596.00 Account Recievable 20,760.00Equipment 9,000.00Supplies 6,500.00Notes Payable ₱ 20,000.00Capital 52,000.00Personal 2,050.00Purchases 73,020.00purchase Return 1,200.00Purchase Discount 302.00Frienght In 275.00Sales 54,960.00Sales Return 753.00Sales Discount 558.00Freight Out 225.00General Expenses 950.00Miscellenous Exp. 750.00Salary Expense 4,500.00Rent Expense 3,000.00Selling Expense 350.00Tax Expense 175.00Totals ₱ 128,462.00
- On December 31, 2021, Doctor Jones Inc.'s "Accounts Receivable" balance per ledger of P1,250,000 includes the following: P 10,000 20,000 2,000 4,000 MasterCard credit sale of merchandise to customer Overpayment to supplier for inventory purchased on account Insurance claim on automobile accident Advances to sales manager due in one year 5-year note receivable due from company president (this was issued by the president for the loan granted to him) 300,000 Interest due on 5-year note from company president; interest payable annually Acceptance of 6-month note for past due account arising from 6,000 sale of inventory 5,000 100 Accrued interest receivable on the note above Overpayment by customer of an accounts receivable Accounts receivable to customers definitely uncollectible Other trade accounts receivable – unassigned Trade accounts receivable – assigned Notes receivable from customer (this note is for a cash loan made to this (5,000) 4,000 50,000 10,000 customer collectible in 3…Life-Positive’s Account Balances 2021 ($) 2022 ($) accounts payable 24,600.00 21,250.00Accounts receivable 15,700.00 12,340.00Cash 23,450.00 28,600.00Cost of goods sold 19,700.00 23,000.00Depreciation 3,090.00 4,590.00Dividends 5,800.00 10,800.00Interest 2,340.00 2,890.00Inventory 7,050.00 8,640.00Long-term debt 28,000.00 30,000.00Net fixed assets 41,500.00 48,000.00Other expenses 2,400.00 2,800.00Sales 58,000.00 62,500.00Short-term Notes Payable 2,890.00 2,340.00Shares outstanding 85,000.00 90,000.00 tax rate is 32% 4. Calculate the cash flow from assets, cash flow to creditors,and cash flow to stockholders…Account$ 51,000Accounts payable$33, 700 Land Notes payable49,000Accounts receivable 71, 2000perating expenses 102,000Building86, 500Prepaid insurance3.100Cash3, 200Service revenue172.000Equipment35, 700Unearned revenue 3,000J. Koizumi, capitalJ. Koizumi, drawings99, 0004, 000(c) Determine the amount overKoizumi Kollections has the following alphabetical list of accounts and balances at July 31. 2017: