Business Middle School

The bookkeeper for the company has prepared the following balance sheet as at December 31, 2018: Cameron Corp Balance Sheet December 31, 2019 Current Liabilities Long-term Liabilities Shareholders' Equity $.237.500 437,500 494,800 Cash Accounts Receivable (net) Inventories Investments Land Building (net) Copyright (net) $ 40,250 (1) 85,550 (2) 105,000 (3) 60,000 (4) 350,000 (5) 525,000 (6) 4.000 (7) $1.169,800 $1.169.800 The following additional information is provided: 1. The cash balance includes: Petty cash fund Cash advance to employee, payable on demand Saving Account at TD Bank Certificate of deposit (90-days) Chequing account at the Bank of Montreal Bank overdraft at the Scotia Bank Total $ 250 1,000 23,000 10.000 6,750 (750) S_40.250 2. The allowance for doubtful accounts $7,750. 3. - The net realizable value of the inventory that is included in the Balance Sheet is $100,000.- - Inventories do not include $15,000 of merchandise that was in transit at December 31, which was sold to a customer with terms f.o.b. destination. The inventory reached the customer on January 5, 2020 - Inventories also do not include $20,000 inventory that was received by Royale Ltd. for consignment. 4. The investments section includes the following: notes receivable that was issued on September 1st, 2019 bearing interest at 6% and due on August 31, 2020 $20,000; long-term FV-OCI investment $30,000 carrying value (fair value $26,000 at December 31,2019); and FV-NI Investment 500 common shares of Landon Inc. purchased at $10.00 per share (fair value $11.50 per share at December 31,2019). The company expects to sell the FV-NI shares as soon as the market price increases next year. 5. The land balance includes: land used for operations and recorded at its appraised value of $350,000 (the original cost of the land was $275,000). The company uses the historical cost method to account for property, plant & equipment. 6. The building originally cost $750,000. Depreciation for 2019 has already been recorded. 7. The copyright originally cost $10,000 and is being amortized over 5 years on a straight-line basis. Amortization for 2019 had already been recorded. 8. The company borrowed $50,000 from ABC Bank. The bank charges 5% and the loan is due May 1st 2025. As part of the bank loan, ABC Bank required Cameron Corp. to pledge their building as security for the loan (in other words it is the banks collateral). How to do adjustment in Inventories in part (3) and Investment in part (4)?

Answers

Answer 1

Answer:

lolol

Explanation:

Answer 2
What the flip is this on about???!?

Related Questions

U.S. corporation Wright Air Conditions borrows funds to build a factory in the US and a factory in Mexico. Borrowing for factories in which location(s) is included in the U.S. demand for loanable
funds?
O only the U.S.
O only Mexico
O Mexico and the U.S.
O neither Mexico nor the U.S.

Answers

Answer:

The answer is "Mexico and the U.S."

Explanation:

The Wright rising temperature, in the united states company, needs to borrow money to construct the United States and Mexican factories. The United States market with bank credit is required for financing through the companies in Mexico as well as the United States markets, that's why in this question the choice "Mexico and the United States " is correct.

The funds are for the US and Mexico

Which is false?
To satisfy the seminar's requirements
I must be the one who is participating in the seminar,
I may not refer to any of my notes or discuss any information with others.

I may consume alcohol or be under the influence of alcohol or any other intoxicants while taking part of this course,

All of the above

Answers

I may consume alcohol or be under the influence of alcohol or any other intoxicants while taking part of this course

I may consume alcohol or be under the influence of alcohol or any other intoxicants while taking part of this course. This statement is false

What is alcohol?

Alcohol is a  chemical substance found in drinks such as beer, wine, and liquor. It is also found in some medicines, mouthwashes, household products, and essential oils (scented liquid taken from certain plants). It is made by a chemical process called fermentation that uses sugars and yeast. There are different types of alcohol. The type used to make alcoholic drinks is called ethyl alcohol (ethanol). Drinking regular or large amounts of alcohol may increase the risk of certain types of cancer, such as cancer of the mouth, throat, esophagus, br-east, liver, colon, and rectum.

"Alcohols are organic molecules assembled from carbon (C), oxygen (O), and hydrogen (H) atoms. When 2 carbons are present, the alcohol is called ethanol (also known as ethyl alcohol). Ethanol is the form of alcohol contained in beverages including beer, wine, and liquor. Alcohols may be classified as primary, secondary, or tertiary, according to which carbon of the alkyl group is bonded to the hydroxyl group. Most alcohols are colourless liquids or solids at room temperature."

To learn more about alcohol here

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