The income statement of AS KLO for 2001 includes interest income of 6,100 euros. The statement of financial position (balance sheet) of AS KLO presents interest on receivables of 1,100 euros as of 31 December 2000 and 1,500 euros as of 31 December 2001. What amount of interest was received in 2001?
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The income statement of AS KLO for 2001 includes interest income of 6,100 euros. The
Calculate the current year interest received as follows:
Current year interest = Interest income - Opening interest income + Closing interest income
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- During the year ended December 31, 2012, Francisco Company paid interest totaling P100,000. The prepaid interest expense is P23,500 and P18,000, respectively, on December 31, 2011 and 2012. The interest payable is P45,000 and P53,500, respectively on December 31, 2011 and 2012. What interest expense should be reported for 2012?An extract from the balance sheets of Stevrosanne Pty Ltd showed the following for the years ended 30 June 2009 and 30 June 2010: 30 June 2009 30 June 2010 Current Assets $ $ Bank 41,250 35,880 Accounts receivable 78,200 75,800 Allowance for doubtful debts - 2,800 - 2,800 Inventory 39,100 37,050 Current Liabilities Accounts payable 61,100 57,200 Taxation payable 21,900 26,200 Provision for annual leave 21,800 23,300 Provision for dividend 32,500 34,700 Additional Information: Net profit after taxation is $219,500. This profit was determined after accounting for the following income and expense items: $ Depreciation 28,500 Gain on sale of non-current assets 5,750 Required: Determine the net cash provided from operating activities for the year ended 30 June 2010 by completing the reconciliation with profit after tax.Last year, which is used as the base year, a firm had cash of P46, accounts receivable of P132, inventory of P319, and net fixed assets of P640. This year, the firm has cash of P52, accounts receivable of P147, inventory of P312, and net fixed assets of P576. What is the common-base year value of accounts receivable?
- Last year, which is used as the base year, a firm had cash of P46, accounts receivable of P132, inventory of P319, and net fixed assets of P640. This year, the firm has cash of P52, accounts receivable of P147, inventory of P312, and net fixed assets of P576. What is the common-base year value of accounts receivable? a. 1.11 b. 0.90 c. 1.13 d. 0.88Husemann Co.'s assets include notes receivable from customers. During fiscal 2019, the amount of notes receivable averaged $525,000, and the interest rate of the notes averaged 4.2%. b-2. Prepare a horizontal model to show the collection of this amount. (Use amounts with + for increases and amounts with – for decreases.)-What is XYZ's current ratio on December 31, 2021? -What is XYZ's Accounts Receivables Turnover for 2021? (assume Accounts Receivable, net was $500,000 on December 31, 2020) -What is XYZ's Asset Turnover for 2021? (assume total assets were $14 million on December 31, 2020) Account Balance Data Debit Credit Cash 217,650 Accounts Receivable 545,000 Interest Receivable 1,200 Allowance for Doubtful Accounts 8,450 Merchandise Inventory 778,000 Prepaid Insurance 30,000 Notes Receivable Land 2,000,000 Office Building 4,000,000 Office Equipment 320,000 Store Building 9,000,000 Store Equipment 3,560,000 Accumulated Depreciation - office building and equipment 1,580,000 Accumulated Depreciation - store building and equipment 4,126,000 Goodwill 700,000
- heridan Company had net credit sales during the year of $1047750 and cost of goods sold of $484000. The balance in accounts receivable at the beginning of the year was $110400 and at the end of the year was $143600. What was the accounts receivable turnover?How to calculate the total outstanding receivables?? For example if at the Dec 31 2013, total sales on account and invoiced during the year, the account receivable balance outstanding at the year end, the date when the invoice was issued and the date when the invoice was paid off was given!You are examining the financial statements of Oliver Company for the year ended December31, 2005. You analysis of the 2005 Notes Receivable account follows: 1. As of January 1, 2005, the balances of the following three notes were:a. Macasarte note is P70,000, which has been received on August 31, 2004, andpayable in annual installments of P10,000 principal plus accrued interest at 6% eachAugust 31.b. Jeanina note is P8,000, which has been discounted by a bank to Oliver Company at6% on November 1, 2004 and will due on November 1, 2005.c. Noynay note is P40,000 at 6% interest dated December 31, 2004, and due onSeptember 1, 2005. 2. Other balances as of January 1, 2005 were confirmed:a. Debit of P1,400 in the Interest Receivable account.b. Credit of P400 in the Prepaid Interest Expense account. 3. Analysis of the transactions for the year discloses the following:a. On February 29, received P25,000 6% note due October 29, 2005 from Jeffersonwhose trade account was past due. On the same…
- You are examining the financial statements of Oliver Company for the year ended December31, 2005. You analysis of the 2005 Notes Receivable account follows: 1. As of January 1, 2005, the balances of the following three notes were:a. Macasarte note is P70,000, which has been received on August 31, 2004, andpayable in annual installments of P10,000 principal plus accrued interest at 6% eachAugust 31.b. Jeanina note is P8,000, which has been discounted by a bank to Oliver Company at6% on November 1, 2004 and will due on November 1, 2005.c. Noynay note is P40,000 at 6% interest dated December 31, 2004, and due onSeptember 1, 2005. 2. Other balances as of January 1, 2005 were confirmed:a. Debit of P1,400 in the Interest Receivable account.b. Credit of P400 in the Prepaid Interest Expense account. 3. Analysis of the transactions for the year discloses the following:a. On February 29, received P25,000 6% note due October 29, 2005 from Jeffersonwhose trade account was past due. On the same…Suppose Alladin Travel, Inc., holds a note receivable as an investment. At the endof June, $100 of interest revenue has been earned. Journalize the accrued revenueadjustment at June 30.During the year ended 31 March 2019, a business made sales of GH₵ 560,000 of which 25% were for cash. The trade receivables at 31 March 2018 were GH₵ 52,000 and at 31 March 2019 they were GH₵56,000. What is the trade receivables turnover based on average trade receivables?