Bigco, Inc. transferred long-term receivables with a carrying value of $500,000 and a fair value of $450,000 to Banco for $425,000 cash. Of the $450,000 fair value, $45,000 is attributable to collection of future fees and penalties, which Bigco will retain. The surrender of control requirements have been met, therefore the transfer qualifies as a sale. What amount of loss should Bigco recognize at the time of the transfer?
Answers: 2
Business, 21.06.2019 21:30
1. gar principles or "the principles"are intended to do what? a. foster an awareness of the hierarchical structure of the organization b. explain the best method of implementing biometric security techniques c. foster an awareness of the importance of good employee training d. foster an awareness of getting upper level management on board in understanding the need to implement an ig program e. foster an awareness of good record keeping principles
Answers: 1
Business, 22.06.2019 14:20
For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?
Answers: 3
Business, 23.06.2019 02:30
Complete electronics inc. sells a point-of-sale computer with a two-year service contract. complete collects $ 2 comma 500 cash for the selling price of the computer and $ 576 for the two-year service contract. how is revenue recognized?
Answers: 2
Business, 23.06.2019 08:30
Ryan receives an e-mail that states the internet is being cleaned up and that he should leave his computer powered-off for 24 hours after receipt of this message. after careful review of the message contents and verifying the information with the desk he realizes this is:
Answers: 2
Bigco, Inc. transferred long-term receivables with a carrying value of $500,000 and a fair value of...
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