1. Rami Inc. factors $600,000 of its accounts receivables without…

Question Answered step-by-step 1. Rami Inc. factors $600,000 of its accounts receivables without… 1. Rami Inc. factors $600,000 of its accounts receivables without recourse for a financecharge of 6%. The finance company retains an amount equal to 10% of the accounts.receivable for possible adjustments. What is the journal entry that Rami should have?  2. Rami Inc. factors $600,000 of its accounts receivables with recourse for a financecharge of 4%. The finance company retains an amount equal to 10% of the accountsreceivable for possible adjustments. Tami estimates the fair value of the recourse liabilityat $30,000. What is the journal entry that Rami should have? AUS Co. assigned $700,000 of accounts receivable to Rayan Finance Co. as security for a loanof $500,000. Rayan charged a 2% commission on the amount of the loan; the interest rate on thenote was 10%. During the first month, AUS collected $230,000 on assigned accounts receivables after deducting $1760 of discounts. AUS accepted returns worth $2,700 and wrote off assigned accounts totaling $5,960. 3. The journal entry by AUS for the received from Rayan at the time of the transfer was 4. Give the entries during the  first month for the collections by AUS  Use the following to answer questions 5-6On 1-1, 2021 AUS Roads sold $125,000 of goods and accepted the customer’s $125,000 9%, 3-ears note receivable in exchange. Assuming 10% approximates the market rate of return5.  write  AUS’s journal entry for the initial transaction on 1-1, 2021. 6. write  the journal entry to recognize the interest for the first year 2021 (Only)  7. Sami and Hamda want to begin saving for their baby’s college education. They estimate that They will need $110,000 in eighteen years. If they are able to earn 7% annually. How muchmust be deposited at the beginning of each of the next eighteen years to fund the education?8. Sarah wants to cash in her winning lottery ticket. Either he can receive ten $105,000semiannual payments starting today, or he can receive a lump-sum payment now based on a 6% annual interest rate. What is the equivalent lump-sum payment?  9. A firm leases equipment under a capital lease that calls for 12 semiannual payments of $30,000. The first payment is due at the inception of the lease. The annual rate on the lease is 6%. What is the value of the leased asset at inception of the lease?  10. On October 1, 2020, Dina Company purchased equipment from Hind Inc. in exchange for a noninterest-bearing note payable in five equal annual payments of $500,000, beginning Oct 1,2021. Similar borrowing have carried 10 % intrest rate. The equipment would be recorded at:  11. Dubai Publishers purchased a multi-color offset press with terms of $50,000 down and anoninterest-bearing note requiring payment of $20,000 at the end of each year for five years.The interest rate implicit in the purchase contract is 10%. Dubai would record the asset at:  12. Amina Inc. offers a new employee (Y ara) a lump-sum signing bonus at the date ofemployment. Alternatively, the employee can take $30,000 at the date of employment andanother $50,000 two years later. Assuming the employee’s time value of money is 8% annually,what lump sum at employment date would make her indifferent between the two options?  13. AUS Ltd. sells an asset with a $1 million fair value to AUB Inc. AUB agrees to make sixequal payments, one year apart, commencing on the date of sale. The payments includeprincipal and 5% annual interest. Compute the annual payments 14.ABC Company will issue $5,000,000 in 6%, 10-year bonds when the market rate of interestis 7%. Determine how much cash ABC Companv will realize from the bond issue.  15. Sajeda Soap Corporation had the following items listed in its trial balance at 12/31/2019:      Currency and coins$ 940      Balance in checking account 2,500       Customer checks 1,100     Treasury bills, purchased on 11/1/2019,        mature on 4/30/20203,000     Marketable equity securities 10,200    Commercial paper, purchased on 11/1/2019,        mature on 1/30/20205,000What amount will Sajeda Soap include in its year-end balance sheet as cash?    Accounting Business Financial Accounting ACC 301 Share QuestionEmailCopy link Comments (0)