subject
Business, 09.11.2019 07:31 Jackpumpkin

On february 1, 2020, sheridan company factored receivables with a carrying amount of $71 to pharoah company. pharoah company assesses a finance charge of 4% of the receivables and retains 6% of the receivables. relative to this transaction, you are to determine the amount of loss on sale to be reported in the income statement of sheridan company for february. assume that sheridan factors the receivables on a with recourse basis. the recourse obligation has a fair value of $3500. the loss to be reported is

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 15:30
In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?
Answers: 1
question
Business, 22.06.2019 16:00
Arnold rossiter is a 40-year-old employee of the barrington company who will retire at age 60 and expects to live to age 75. the firm has promised a retirement income of $20,000 at the end of each year following retirement until death. the firm's pension fund is expected to earn 7 percent annually on its assets and the firm uses 7% to discount pension benefits. what is barrington's annual pension contribution to the nearest dollar for mr. rossiter? (assume certainty and end-of-year cash flows.)
Answers: 2
question
Business, 22.06.2019 21:00
After hearing a knock at your front door, you are surprised to see the prize patrol from a large, well-known magazine subscription company. it has arrived with the good news that you are the big winner, having won $21 million. you have three options.(a) receive $1.05 million per year for the next 20 years.(b) have $8.25 million today.(c) have $2.25 million today and receive $750,000 for each of the next 20 years.your financial adviser tells you that it is reasonable to expect to earn 13 percent on investments.
Answers: 3
question
Business, 22.06.2019 23:00
How an absolute advantage might affect a country's imports and exports?
Answers: 2
You know the right answer?
On february 1, 2020, sheridan company factored receivables with a carrying amount of $71 to pharoah...
Questions
question
Mathematics, 17.07.2019 13:00
question
History, 17.07.2019 13:00
question
History, 17.07.2019 13:00