What was correct total of vanoy''s current net receivables, Accounting Basics

+44 141 628 6080
[email protected]

What was correct total of vanoy''s current net receivables

On the December 31, 2012 balance sheet of Vanoy Co., the current receivables consisted of the following:
Trade accounts receivable $ 60,000
Allowance for uncollectible accounts (2,000)
Claim against shipper for goods lost in transit (November 2012) 3,000
Selling price of unsold goods sent by Vanoy on consignment
at 130% of cost (not included in Vanoy 's ending inventory) 26,000
Security deposit on lease of warehouse used for storing
some inventories 30,000
Total $117,000
At December 31, 2012, what was the correct total of Vanoy's current net receivables ?

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What was correct total of vanoy''s current net receivables

Reference No:- TGS047819

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : What amount should wilkinson report as a loss on sale

Wilkinson estimates the recourse obligation at $9,600. What amount should Wilkinson report as a loss on sale of receivables?

Q : Which plan best fits for the person-s budget

A mortgae for 30 years, 5.5% fixed, 0 points, with 20% downpayment or a mortgae for 20 years, 5.5% fixed, 0 pots with 20% downpayment. Which plan best fits for the person's budget.

Q : Evaluating the predetermined overhead rate

For the current year overhead is estimated at $2,250,000 and direct labor hours are budgeted at 415,000 hours. Actual overhead was $2,200,000 and actual overhead hours worked were 422,000. (a) Calculate the predetermined overhead rate.

Q : Find the firms equilibrium prices-quantities and profits

Explain why a lower price by its competitor should cause the firm to lower its own price. c.) In equilibrium, the firms set identical prices : P1=P2. Find the firms' equilibrium prices, quantities, and profits.

Q : What was correct total of vanoy''s current net receivables

On the December 31, 2012 balance sheet of Vanoy Co., the current receivables consisted of the following:Trade accounts receivable $ 60,000 ;Allowance for uncollectible accounts (2,000)

Q : Short term capital loss carryover from prior year

The trustee has a $700 short term capital loss carryover from prior year. Prepare a Form 1041, and any needed Schedule K-1 for Barclay Trust. Ignore the alternative minimum tax .

Q : Explain downloaded music is likely to change in the future

Sophisticated pricing schemes for the downloaded music? Do you think that Apple's ability to control the pricing of downloaded music is likely to change in the future? Explain.

Q : Compute the effect of the transfer on the net income

Compute the effect of the transfer on the net income for the Battery Division, Automotive Division, and the total company.

Q : What ace''s uncollectible accounts expense would be

Ace Co. prepared an aging of its accounts receivable at December 31, 2012 and determined that the net realizable value of the receivables was $600,000. Additional information is available as follows:

1931027

Questions
Asked

3,689

Active Tutors

1459174

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What was correct total of vanoy''s current net receivables

Reference No:- TGS047819

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What amount should wilkinson report as a loss on sale

Q : Which plan best fits for the person-s budget

Q : Evaluating the predetermined overhead rate

Q : Find the firms equilibrium prices-quantities and profits

Q : What was correct total of vanoy''s current net receivables

Q : Short term capital loss carryover from prior year

Q : Explain downloaded music is likely to change in the future

Q : Compute the effect of the transfer on the net income

Q : What ace''s uncollectible accounts expense would be

Explain culture-level measures and individual-level measures

Explain individualism and collectivism

Explain the four different acculturation strategies

Addressing leadership issues

Research modes of transmission for common sti

Explore how lobbying fits in with advocacy

Conflict management in human services

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What was correct total of vanoy''s current net receivables

Reference No:- TGS047819

Recent Questions Asked Accounting Basics

Q : What amount should wilkinson report as a loss on sale

Q : Which plan best fits for the person-s budget

Q : Evaluating the predetermined overhead rate

Q : Find the firms equilibrium prices-quantities and profits

Q : What was correct total of vanoy''s current net receivables

Q : Short term capital loss carryover from prior year

Q : Explain downloaded music is likely to change in the future

Q : Compute the effect of the transfer on the net income

Q : What ace''s uncollectible accounts expense would be

Asked Questions