Scarbrough Corp. factored $600,000 of accounts receivable to Duff Corp. on October 1, year 2. Control was surrendered by Scarbrough. Duff accepted the receivables subject to recourse for nonpayment. Duff assessed a fee of 3% and retains a holdback equal to 5% of the accounts receivable. In addition, Duff charged 15% interest computed on a weighted-average time to maturity of the receivables of fifty-four days. The fair value of the recourse obligation is $9,000. Scarbrough will receive and record cash of

Answers

Answer 1

Answer:

$538,685

Explanation:

Calculation to determine what Scarbrough will receive and record cash of

Receivables $600,000

Less: Amount of the hold back ($30,000)

($600,000 x 5%)

Less: Withheld as fee income ($18,000)

($600,000 x 3%)

Less: Withheld as interest expense ($13,315)

($600,000 × 15% × 54/365)

Cash $538,685

($600,000-$30,000-$18,000-$13,315)

Therefore Scarbrough will receive and record cash of $538,685


Related Questions

A cost-based contract is __________. ANSWER Unselected a document that authorizes a supplier to deliver a product or service and often includes key terms and conditions, such as price, delivery, and quality requirements Unselected a document containing terms and conditions for a purchased service that indicate, among other things, what services will be performed and how the service provider will be evaluated Unselected a type of purchasing contract in which the stated price does not change, regardless of fluctuations in general overall economic conditions, industry competition, levels of supply, market prices, or other environmental changes Unselected a type of purchasing contract in which the price of a good or service is tied to the cost of some key input(s) or other economic factors, such as interest rates

Answers

Answer:

a type of purchasing contract in which the price of a good or service is tied to the cost of some key input(s) or other economic factors, such as interest rates.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, cost-based contract, etc.

A cost-based contract is a type of purchasing contract in which the price of a good or service is tied to the cost of some key input(s) or other economic factors, such as interest rates.

Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services.

In sales and marketing, pricing of products is considered to be an essential element of a business firm's marketing mix because place, promotion and product largely depends on it.

Analyse and discuss the term ‘buyer motivation', in relation to innovative banking products and services.

Answers

Answer: Buyer motivation could be described as factors(mind related) that are behind a customer's decision of purchasing an item.

Explanation:

Buyer motivation could be described as factors(mind related) that are behind a customer's decision of purchasing an item. Every customer buying an item will consider a lot of things before getting one, although this varies compared to other person's. Some may buy out of a need, others a want, some panic buy. They all vary. Buying is more of a physiological thing than any other thing.

Shelly Ford is starting a fashion boutique in an upscale mall near San Antonio. She wants to open her store during the time period in which a business like hers can realistically enter the new market. Shelly is trying to open her business while the ________ is open.

Group of answer choices

safe harbor

window of opportunity

portal of entry

doorway of opportunity

safety zone

Answers

Answer:

I cant understant

Explanation:

Can you just write it in a paper then pic it

An organizational model that consists of a company's overseas subsidiaries and is characterized by centralized decision making
and tight control by the parent company over most aspects of worldwide operations is known as the model.
A. international
B. multinational
C. global
D.
transnational
E. intranational

Answers


A multinational company generally has offices and/or factories in different countries and a centralized head office where they coordinate global management. These companies, also known as international, stateless, or transnational corporate organizations tend to have budgets that exceed those of many small countries.

Sharon contributed property to the newly formed QRST Partnership. The property had a $100,000 adjusted basis to Sharon and a $160,000 fair market value on the contribution date. The property was also encumbered by a $90,000 nonrecourse debt, which was transferred to the partnership on that date. Sharon is treated as a general partner. She is allocated 30% of QRST's profits and 20% of QRST's losses. Sharon's basis in the partnership interest after the formation transaction is:

Answers

Answer: $37000

Explanation:

Sharon's basis in the partnership interest after the formation transaction is calculated below:

Adjusted basis of property to Sharon = $100,000

Less: Basis in mortgage = $90000 × (100% - 30%) = $90000 × 70% = $63000

Then, Sharon's basis in the partnership interest after the formation transaction will be:

= $100000 - $63000

= $37000

Why do interviewers ask "Where do you see yourself in five years?"

They want to see how you will deal with a difficult question
They want to get to know you better
They want to get a better sense of your career goals
They want to test your psychic abilities
i am pretty sure its the third one but i want to be sure

Answers

Answer:

This popular interview question helps interviewers and hiring managers get a sense of how your career goals align with the company’s goals. It also helps them gauge whether you’re likely to have a long tenure at their company or if you’ll probably leave after just a few months or a year on the job.

I hope it help you

Answer:

i belive it the 3 one u are right

Explanation:

hopes this helps

Milton Industries expects free cash flows of $ 12 million each year.​ Milton's corporate tax rate is 35 %​, and its unlevered cost of capital is 11 %. Milton also has outstanding debt of $ 47.76 ​million, and it expects to maintain this level of debt permanently. a. What is the value of Milton Industries without​ leverage? b. What is the value of Milton Industries with​ leverage? a. What is the value of Milton Industries without​ leverage? The value of Milton Industries without leverage is ​$ nothing million. ​ (Round to two decimal​ places.)

Answers

Answer:

a. What is the value of Milton Industries without​ leverage?

= Expected free cash flows/Unlevered cost of capital

= $12,000,000 / 11%

= 109090909.0909091

= $10.91 million

b. What is the value of Milton Industries with​ leverage?

= Unlevered cash flows + Corporate tax rate*Outstanding debt

= $109,090,909 + 35%*$47,760,000

= $109,090,909 + $16,716,000

= 125806909

= $12.58 million

Help this is super confusing

Answers

Answer: Reasons

Explanation: Crystals are collected for jewelry, sugar, salt, computer chips. So if it shows you all those examples it would be collected for many reasons. I hope this helped!

Smart tips for selling to business customers include all the following except: a. Emphasize various benefits that meet the differing needs and interests of each member of the buying center b. Offer fresh insight and ideas in e-mails and other correspondence c. Develop a marketing mix to satisfy the needs of the organization as well as the needs of individual purchasing managers d. Show appreciation by offering desirable gifts to purchasing managers e. Explain how products and services will reduce the firm's risk

Answers

Answer:

c. Develop a marketing mix to satisfy the needs of the organization as well as the needs of individual purchasing managers.

Explanation:

In order to have smart selling in business, one needs to have an emphasis on the various benefits that are offered by the product to the client. Such as on the sales of A/C one needs to offer insights and ideas to the buying customers, show appreciation by providing gifts to the purchasing managers.Even explain how the products and services can help boost profit. Rather than developing a marketing plan to meet the need of the customers as it is not their concern.

Lyle and Miranda agree that Lyle will fix the refrigeration unit in Miranda's Bagel Café in exchange for her payment of a debt that Lyle owes to New Credit Corporation. Under this contract, the intended beneficiary is

Answers

Answer:

New Credit Corporation.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

Also, mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.

In this scenario, Lyle and Miranda agree that Lyle will fix the refrigeration unit in Miranda's Bagel Café in exchange for her payment of a debt that Lyle owes to New Credit Corporation. Under this contract, the intended beneficiary is New Credit Corporation as agreed upon by Lyle and Miranda.

An intended beneficiary can be defined as a third-party deemed to be the recipient of an action with respect to the execution of a contract.

i dont know which category this falls under

Answers

Answer:

C

Explanation:

The directors of Acme Corp. unanimously approved a merger agreement between Acme and Generic Inc. The Model Business Corporation Act (MBCA) is in effect in the state where both corporations are incorporated. The two corporations begin performing the various duties set out in the merger agreement. Certain shareholders of Acme then institute suit in an effort to block the merger. The shareholders maintain that the proposed merger should have been submitted to them for approval. Nothing in Acme's articles of incorporation requires the directors to submit such matters to the shareholders. The directors claim that the merger was carefully considered and is in the best interests of the corporation. Under these circumstances, _____.

Answers

Answer: B. the shareholders will be successful in their suit because under the MBCA, approval of all classes of shares is required for a merger or consolidation.

Explanation:

The options are:

a. the directors will prevail if they can prove that the merger was in the corporation's best interests

b. the shareholders will be successful in their suit because under the MBCA, approval of all classes of shares is required for a merger or consolidation

c. the directors will prevail because the MBCA gives them the right to overrule the shareholders' decisions in mergers

d. the shareholders will not be successful in their suit because the directors have acted in the best interests of the corporation

The Model Business Corporation Act (MBCA) is simply a model act that helps in the shaping of the standards for corporate law in the United States.

Based on the scenario in the question, the shareholders will be successful in their suit because under the MBCA, approval of all classes of shares is required for a merger or consolidation.

The primary difference between an underwriting syndicate member and a selling group member in a firm commitment underwriting is that A) the price per share paid by the public (POP) is more if purchasing new shares from a selling group member. B) the size of a syndicate member firm will always be larger than a selling group member firm. C) the syndicate member assumes liability for unsold shares and the selling group member does not. D) the securities offered by each differs within the offering.

Answers

Answer:

C) the syndicate member assumes liability for unsold shares and the selling group member does not.

Explanation:

In the trading of a security, the dealer's spread refers to the difference between the bid and asked prices of a security, which represents the dealer's markup, or profit from a security transaction.

Simply stated, the bid-ask spread refers to the amount by which the bid price by a dealer is lower than the ask-price for a security or an asset in the market at a specific period of time.

The bid-ask spread exists because of the need for dealers to cover expenses and make a profit. A bid-ask spread is use in the transaction of the following items; options, future contracts, stocks, and currency pairs.

The primary difference between an underwriting syndicate member and a selling group member in a firm commitment underwriting is that the syndicate member assumes liability for unsold shares and the selling group member does not.

What is a subcontractor

Answers

Answer:

business or person that carries out work for a company as part of a larger project.

Explanation:

A hun

Why is formal training of workers so important to most employers? Why don't employers simply let people learn about their jobs as they perform them?

Answers

Answer:

The formal training is so important because of the benefits that bring to the company and the problems it could avoid.

Explanation:

To begin with, the fact that most of the companies consider important to provide a training program for their workers in the cases necessary indicates that the companies understand the fact that the workers need to be at their top level if they can when starting to work for the company, so in that order they will make no mistakes or at least the less possible. So that is the main reason why the employers do not let the people start working inmediately and learn from regular experience, so that they can avoid making mistakes and therefore avoid to elevate costs of money and time, etc.

-Select- risk is the risk of a decline in a bond's value due to an increase in interest rates. This risk is higher on bonds that have long maturities than on bonds that will mature in the near future. -Select- risk is the risk that a decline in interest rates will lead to a decline in income from a bond portfolio. This risk is obviously high on callable bonds. It is also high on short-term bonds because the shorter the bond's maturity, the fewer the years before the relatively high old-coupon bonds will be replaced with new low-coupon issues. Which type of risk is more relevant to an investor depends on the investor's -Select- , which is the period of time an investor plans to hold a particular investment. Longer maturity bonds have high -Select- risk but low -Select- risk, while higher coupon bonds have a higher level of -Select- risk and a lower level of -Select- risk. To account for the effects related to both a bond's maturity and coupon, many analysts focus on a measure called -Select- , which is the weighted average of the time it takes to receive each of the bond's cash flows. Conceptual Question: Which of the following bonds would have the largest duration

Answers

Answer:

Find answers below.

Explanation:

Risk management can be defined as the process of identifying, evaluating, analyzing and controlling potential threats or risks present in a business as an obstacle to its capital, revenues and profits. This ultimately implies that, risk management involves prioritizing course of action or potential threats in order to mitigate the risk that are likely to arise from such business decisions.

Price risk is the risk of a decline in a bond's value due to an increase in interest rates. This risk is higher on bonds that have long maturities than on bonds that will mature in the near future.

Reinvestment risk is the risk that a decline in interest rates will lead to a decline in income from a bond portfolio. This risk is obviously high on callable bonds. It is also high on short-term bonds because the shorter the bond's maturity, the fewer the years before the relatively high old-coupon bonds will be replaced with new low-coupon issues. Which type of risk is more relevant to an investor depends on the investor's investment horizon, which is the period of time an investor plans to hold a particular investment. Longer maturity bonds have high price risk but low reinvestment risk, while higher coupon bonds have a higher level of reinvestment risk and a lower level of price risk. To account for the effects related to both a bond's maturity and coupon, many analysts focus on a measure called duration, which is the weighted average of the time it takes to receive each of the bond's cash flows.

The bonds which would have the largest duration is a 10 year - zero coupon bond.

If the labor force is 1000 workers, but 32 are unemployed, what is the unemployment percentage?

Answers

3.2% is the unemployment percentage, if the labor force is 1000 workers, but 32 are unemployed.

What is the reason of unemployment?

Unemployment is influenced by a lot of circumstances on both the demand and supply sides. Rising interest rates, a global recession, and a banking meltdown may all contribute to demand-side decreases. Underemployment and structural employment have a big impact in the supply side.

Thus, it is 3.2 percent.

For more details about reason of unemployment, click here:

https://brainly.com/question/9288794

#SPJ1

also known as books of financial entry

Answers

Answer:

A daybook is a descriptive and chronological (diary-like) record of day-to-day financial transactions; it is also called a book of original entry. The daybook's details must be transcribed formally into journals to enable posting to ledgers.

Explanation:

Hope it helps

True or False: Living expenses aren't considered startup costs.

Answers

yes true , that is true

The statement : "Living expenses aren't considered startup costs." is a True statement. They are known as the cost of living.

Start-Up cost

A start-up cost is the expenses incurred when one established a new business or an organization.

Start Up cost are the expenses or the amount incurred for creating a new business or a trade.

Cost of living

The cost or expenses incurred as a part of living a daily life is knonw as cost of living. It is the cost needed for one's food, housing, bills, groceries, health care, etc.

Thus, a living expenses are not considered as a startup costs.

Learn more about "Start-Up cost" here :

https://brainly.com/question/25881160

Question 9 of 10
Johanna is responsible for setting goals and planning at a medium-sized
company. Her job title is director of communications. What level of manager
is Johanna?
A. Middle manager
B. Top-level manager
C. Executive director
D. Operational manager

Answers

Answer:

B top-level manager

Explanation:

Its top-level manager is the one that is involved in the planning that is long term for the company, and they do not bother about the daily operational report which explains the company how to interact with the customers. Hence, the correct option here is the B, Top Level manager.


Describe at least four ways you can take money out of a checking account. ​

Answers

Answer:

yes

Explanation:

You, as the account owner, can also withdraw or remove funds from the account. You can withdraw by automatic electronic transfer, check, ATM card or debit card. There are many ways these days to withdraw money from your accounts.

Foster Co. adjusted its allowance for uncollectible accounts at year-end. The general ledger balances for the accounts receivable and the related allowance account were $1,000,000 and $40,000, respectively. Foster uses the percentage-of-receivables method to estimate its allowance for uncollectible accounts. Accounts receivable were estimated to be 5% uncollectible. What amount should Foster record as an adjustment to its allowance for uncollectible accounts at year-end

Answers

Answer:

$10,000

Explanation:

The computation of the amount should Foster record as an adjustment to its allowance for uncollectible accounts at year-end is shown below"

= $1,000,000 × 5% - $40,000

= $50,000 - $40,000

= $10,000

Hence, the amount that should be recorded is $10,000

Tim Horton wants to raise funds to open a branch of their coffee shop in Trinidad. To raise the funds, Tim Horton would sell bonds 100 $1,000 par value with a coupon interest rate of 6%. The bonds would mature in 15 years and interest would be paid semi-annually. The required rate of return is expected to be 8%.

Requirement:
a) Calculate the value of one bond
b) What is the total amount Tim Horton would raise if all bonds were sold?

Answers

Answer:

a) The value of one bond is $837.08.

b) The total amount Tim Horton would raise if all bonds were sold is $83,708.

Explanation:

a) Calculate the value of one bond

This can be calculated as follows:

Annual coupon = Bond face value * Coupon interest rate = $1,000 * 6% = $60

Annual coupon discount factor = ((1 - (1 / (1 + r))^n) / r) .......... (1)

Where;

r = required semi-annual rate of return = required annual rate of return / number of semi-annual in a year = 8% / 2 = 0.08 / 2 = 0.04

n = number of semi-annuals = number of years * number of semi-annual in a year = 15 * 2 = 30

Substituting the values into equation (1), we have:

Semi-annual coupon discount factor = ((1-(1/(1 + 0.04))^30) / 0.04) = 17.2920333006645

Present value of coupon = ((Annual coupon / number of semi-annual in a year) * Semi-annual coupon discount factor) = (($60 / 2) * 17.2920333006645 = $528.76

Present value of the face value of the bond = Face value of the bond / (1 + r)^n = ($1,000 / (1 + 0.04)^30 = $308.32

Therefore, we have:

Bond value = Present value of coupon + Present value of the face value of the bond = $528.76 + $308.32 = $837.08

Therefore, the value of one bond is $837.08.

b) What is the total amount Tim Horton would raise if all bonds were sold?

Number of bonds expected to be sold = 100

Value of one bond = $837.08

Total amount that would be raised = Number of bonds expected to be sold * Value of one bond = 100 * $837.08 = $83,708

Therefore, the total amount Tim Horton would raise if all bonds were sold is $83,708.

Who do you think mergers help the most, consumers or the businesses that merge?

Answers

Mergers may improve product quality, which benefits consumers. For example, the merger of two start-up software companies could result in better quality products and faster time-to-market as the merged entity takes advantage of the research capabilities and facilities of their legacy companies.

Which of the following is an example of a long-term debt?
A. A student loan.
B. A debit card purchase.
C. A term life insurance policy.
D. A stock portfolio.

Answers

answer is A. a student loan

Candice bought a shipment of jeans to sell at her store for $20 each. She'd
like to have a 40% markup on the price of the jeans to make sure she can
cover the costs of her store. With this markup, what is the price of each pair
of jeans?
A. $12
O B. $8
O C. $32
O
D. $28

Answers

Answer:

D. $28

Explanation:

Given the following data;

Cost price = $20

Markup = 40%

To find the selling price;

Markup price = 40/100 * 20

Markup price = 800/100

Markup price = $8

Next, we would add the markup to the cost price;

Selling price = markup price + cost price

Selling price = 8 + 20

Selling price = $28

Therefore, the price of each pair of jeans is $28.

Answer: $28 (D)

Explanation: Just took the test

Mill Company began operations on January 1, 20X1, and recognized income from construction-type contracts under different methods for tax purposes and financial reporting purposes. Information concerning income recognition under each method is as follows: Year Tax Purposes Book Purposes 20X1 $ 400,000 $ 0 20X2 625,000 375,000 20X3 750,000 850,000 Required: Assume the income tax rate is 21% in all years and that Mill has no other temporary differences. In its December 31, 20X3, balance sheet, what amount of deferred income taxes should Mill report

Answers

Answer:

Deferred tax asset balance on  December 31, 20X3 =   $115,500

Explanation:

The computation of the amount of deferred income taxes should Mill report is shown below:

Year   Tax purpose   Book purpose   Difference   Deferred tax book

20X1     $400,000          $0                $400,000        $84,000

20X2    $625,000     $375,000         $250,000        $52,500

20X3     $750,000     $850,000        ($100,000)        ($21,000)

Deferred tax asset balance on  December 31, 20X3 =   $115,500

HELPPPPPPPP WIL MARK BRAINLIEST

What types of decisions affect the day-to-day activities of an operation?
Group of answer choices

Those involving new product development

Those involving process technology

Those involving planning and control

Those involving performance measurement

Answers

Answer:

those involving process technologies

Which is considered a retail service?
a. New car tires
b. Car wash
Car engine repair
d. New car

Answers

Answer:

it is option c mate

how u got ur answer ;)

People who purchase goods or services from a business are:
a. Customers
b. Frequent Flyers
c. Patients
d. Visitors

Answers

Customers since they are the clients who are purchasing the supply

Answer: A

Explanation:

Custormer

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