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Question
Submitted by JackDanIV on Wed, 2012-06-20 11:27
due on Wed, 2012-06-27 11:00
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Receivables, Liabilities and Fixed Assets

This is a three-part assignment, you will use a scenario where you will help justify the company loan decisions, complete journal entries for a warranty period, and determine the book value of the company by performing various accounting tasks. Use all 3 parts [attached files] to complete the scenario outlined in the Overview File.

Please be neat and organized. I have several other problems and will be a return customer several times over.

Answer
Submitted by Kumail Raza on Thu, 2012-06-21 06:11
teacher rated 24 times
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price: $30.00

Answer file is attached. Feel free to contact for any further assistance

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file1.xlsx preview (713 words)

Part1

xxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Spoiled Baby Corps
xxxxxx xx
xxxxxx xx be xxxxxxxxxxxxxxxx
xxxxxxxxxx xxxx @6.0%
xxxxxx xxxxxxxxx months
xxxxxxx balance xxxxxxx balance Interest
x xxxxxx
Year 01-Jan-00xxxxxxxx xxxxxxxx $30,000
Year01-Jan-00 xxxxxxxx $545,668xxxxxxx
$45,668
xxxxxx xx
xxxxxx xx be borrowedxxxxxxxxxx
Interest x6.2%xxx
xxxxxx18-Jan-00 months
Opening xxxxxxx xxxxxxx balance xxxxxxxx
x xxxxxx
xxxx 01-Jan-00xxxxxxxx$531,000$31,000
Year 01-Jan-00 xxxxxxxx$547,213 xxxxxxx
xxxxxxx
xxxxxx
Recommendation:
xx xxxxxxxx xxxxxxx on non discounted xxxx (option xx is more than the xxxxxxxx xxxxxxx on xxxxxxxxxx note xxxxxxx xx xx x xxxxxx therefore, xxxxxx x is xxxxxxxxxxx to board of xxxxxxxxx for approval.

Part2

xxxxxx
Spoiled xxxx xxxxx
Estimated warranty xxxxx rate6.0%
xxxx xxxxx$481,000
xxxxxxxxx xxx xxxxxxxx (D) $28,860
Datexxxxxx Date xxxxxxxxxxx

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Answer
Submitted by shahimermaid on Fri, 2012-06-22 19:48
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the answers are in original files and are attached

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file1.docx preview (224 words)

xxxxxxx Baby xxxx xxxxx xxxx buggies and xxx xxxxxxx xx expand xxx xxxxxxxxxxx xx needs xx xxxxxx $500,000 xxx 18 xxxxxx and xxx xxxx xxx xx xxxxxxxxx with xxx bank.

The bank is more xxxx xxxxxxx to lend xxx money xx the xxxxxxx xxx is xxxxxxxx xxx xxxxxxx x discounted xxxx at xxx xxx Moneybags, the xxxxxxx xxx indicated that this xx quite a xxxx and non-discounted notes are xxxxxxxxx being charged 6.2% xxx

As the company xxxxxxxxxx you must xxxxxxx xxx necessary xxxxxxxxxxx xx xxxxxxx your recommendation to the xxxxx of Directors.

Sir, xx have struck x good xxxx xxxx the xxxxx xxxx are xxxxxxxx xx a short-term xxxx in the xxxx xx discounted note at 6% xxxxx xx the xxxxxxxxxxxxxx xxxxx xxx xxxxx xxxxxxx xx 6.2% from the general xxxxxxx

xxxxxxxx xxxxx do xxx xxxx interest payments; instead xxx xxxx xx xxxxxxx xx x par value xxxxx xxx xxxxxxxx price, xxx xxx price appreciation is xxxx xx calculate the xxxxxxxxxxxx yield.  

xxxxxxx xxxxx will

xxxx Dr.------------

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file2.docx preview (202 words)

Spoiled xxxx xxxx (SPC) xxxxx baby xxxxxxxx Recent changes xx the xxx xxxxxxxx SPC to warranty xxx products xxx 90 days and xxx must set xx the xxxxxxxx accounts. xxxxxxxxxx Data xxxxxxxxx xxxx xx xx xxxxxxx sales xxxxxx xx warranty xxxxxxx The xxxx 20x1 xxxxxxx sales xxx xxxxxxxxx

481000 x xxxxxx 28,860

xxxxxxx xx xxx xxxxxxx for June xxxxx xxxxxxxxx

xxx xxxxxxxxx warranty xxxxxx xxxx xxxx against xxxx xxxxxx

July xxxxxxxxxx 14 450

xxxx xxxxxxxxxxx xxxxxx

July 26 421 July 28 772

xxxx warranty xxxxxxx xxxx

xxx 4 1,795 Aug 8 921

Aug xxxxxxxxxx xxxxxxxx

xxx 25 186 Aug 27 755

Aug 29 548 Aug 30 899

xxxxxx warranty xxxxxxxxxxx

xxxx 2 111 Sept 3 219

Sept 5 1,135 Sept xxxxxx

Sept xxxxxxxxxxx 24 987

Sept 27 147 Sept 28 1,587

xxxx xxxxxxxxxxx xxxxxx

September xxxxxxxx xxxxxxxxxxx

xxx xxxxxxxxxx xxxxxx

Oct 14 489 Oct xxxxxx

xxx xxxxxxxxxxxx 27 927

xxx 28 683 Oct xxxxxx

xxx xxxxxxxxxx xxxxxxx

xxxxxxx warranty xxxxxxxxxxxx

xxxxx xxxxxxxx xxxxxxx till October xxx June xxxx xx xxxxx

Total warranty xxxx 90 days xxxxx June sales is 16052

xxxxxxxxx xxxxxxxx x 2629

Prepare xxx Journal entries xxxxxxxx xx create xxx close xxx xxxxxxxx xxxxxxx

x

xxxxxxxx

June xxxx

xxxx xx xxxxxxxx xxxxxxxxxx –Dr.

Sales revenue

481,000

481,000

xxxx xxxx

xxxxxxxx xxxxxxx

Warranty xxxxxxxxx

xxxxxx

28,860

xxxx 20x1

xxxxxxxx Liability

Repair xxxxx xxxxxxxxxx xxxxx xxxxxxxx xxxx xxxx

3138

3138

xxxxxx 20x1

xxxxxxxx xxxxxxxxx

Repair xxxxx xxxxxxxxxx xxxxx

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file3.docx preview (557 words)

Spoiled xxxx xxxx xxxxx xxxx buggies xxx xxx begun xx equipment replacement xxxxxxxx You are xxxxxxxx xx determine xxx xxxx Value of each of its fixed assets and xxxx xxxxxxxxx xxxxxxxxx the xxxxxxxxxx xxxxxxx and xxxxxxxxxxx xx xxxxxxx assets.

Indicate xxxx xxxxxxxxxxxxxx and justify xxxx position for xxxx xx xxx following xxxxxxx

xxx xxxxxxxxx a xxxx xxxxxxxx on April xx 2007 xxx xxxxxxxx It xxx x xxxxxx life xx 10 years and x xxxxxxxx xxxxx xx $4,000. xxx used xxxxxx declining balance xxxxxxxxxxxx for this xxxxxx xx xxxxxxxx 19, 2012 SPC xxx an offer xx xxxx this unit for xxxxxx

Purchase=27,000

Residual xxxxxx 4000

Depreciation xx xx claimed=23,000 over xx xxxxx

Per year depreciation xxxxx straight line xxxxxxx xxxxx

xxxxxxxxxx xxxxx 10%

Double xx to xxx

After 5 xxxxxx the value of xxx asset will be

xxxxxxxxx

xxxx

xxxxxxxxxxxx

xxxxxxx value xx asset xx xxxxx 3

x

xxxxx x 20/100=4600

xxxxx

x

xxxxx x 20/100=3680

14720

3

xxxxx x xxxxxxxxxxx

xxxxx

x

xxxxx x

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