Emerald Home Repose Ultra Soft Chofa LSF Chaise Sectional.
Couch is very comfortable; however, the cushions need some settling. Minus one star for the connector between the two pieces that we had to reposition as it arrived misaligned and frequently disconnects. Equal monthly payments required for 48 months. We're ok w/ that since you can easily screw this piece on and off than having to return and/or replace the entire sofa. Emerald home furnishings sectional. Minimum purchase required. We wanted a wide chaise to fit two people. The setup should be very simple, but ours had multiple issues.
Double your pleasure and your style with this sectional. Classic linen colored textured upholstery. Is brought to you by Sadler's Home Furnishings. My cat has managed to get some threads loose with repeated scratching but it's holding up the high quality otherwise. Worth every dime I paid! Emerald home sectional sofa costco. This couch fits perfectly in my new apartment. The neutral full details. It's simple and inexpensive to purchase extended warranties and one of the smartest ways to protect your investment. Ended up fastening that leg with my own 2" wood screws. The quality of the product is fine, although attaching the legs were challenging. Love this couch so much!
Delivery was quick - received within 2 weeks! Dovemont - LAF Corner Chaise 36"W x 90"D x 39"H - 122. With a sophisticated, soft gray fabric, padded rolled arms, and contrasting pillows, this sectional is sure to add a comfortable feel to your space. I had 2 issues with the product. Berlin 3-Piece L-Shape Sectional | Sadler's Home Furnishings | Sectional - Sofa Groups. Rawcliffe - Parchment - LAF Sofa 86"W x 44"D x 38"H - 135. From reclining sectionals to chaise sectionals, you can find what you're looking for right here. The 2nd issue is that it took over 4 weeks to receive even though it was in stock. Sleek, sultry and tailored to a T—with.. full details. It is a LEFT-FACING Chaise, which is exactly what we wanted. The Cloud 3PC Sectional Sofa will make you wish your own bed was this comfy!
0 lbs Alessio - Beige - Wedge 33"W x 33"D x full details. It's only been a few days since the delivery and we're glad we chose this sofa even without seeing it in person. The second issue was that the bracket and gator were screwed in too far apart from the edge of each piece of the sectional, therefore the chair and the chaise could not latch to one another. The neutral, platinum palette and contemporary design elevate the style of your home and make this the perfect place to entertain or just lie back and relax. If you can spare a few thousand dollars without batting an eyelash for new. Emerald home 3 piece sectional sofa with chaise. 0 lb Kellway - Bisque - Armless Chairs Corner full details. 0 lbs Bovarian - Stone - RAF Sofa full details. Double up on comfort, style and texture with this sectional.
We also installed the legs ourselves. U3029-11-13-12-13-K. |. See if you prequalify in seconds with zero impact to your credit bureau score. The dimensions of the couch are approximately 8 feet in the back with a 6 foot sectional. To be honest, that was a waste of $50. I love the soft cloth covering on this couch and the firm yet conforming cushions.
Date 2007 Dec. 31 31 2008 May 11 June 12. The three major types of receivables are as follows: (1) Accounts receivable are amounts owed by customers on account. SOLUTIONS TO BRIEF EXERCISES BRIEF EXERCISE 8-1 (a) (b) (c) (d) (e) (f). Estimated Uncollectible $ 1, 800 1, 920 8, 100 31, 200 $43, 020% 1. B) Dec. Accounting principles third canadian edition chapter 8 answers pdf. 31 Bad Debts Expense [($500, 000 x 4%) + $800]........... 20, 800 Allowance for Doubtful Accounts. Sales Recovery Collection recovery Collections Write-offs Interest charges.
Suncor's current ratio has improved from 0. Establishing an allowance for doubtful accounts satisfies the matching principle because when the year end adjusting journal entry is prepared bad debts expense is increased and the allowance for doubtful accounts is also increased. 2 Property, plant and equipment Equipment................................................... Accounting principles third canadian edition chapter 8 answers key. $2, 310. Accounts and notes receivable are sometimes called trade receivables because they result from sales transactions and occur in the normal course of business operations. Interest Revenue $15, 000 x 4. 5/12 Total accrued interest.
9 Merchandise inventory................................................. 841. The percentage of sales approach is called the income statement approach because the calculation and the bad debts expense are based on a percentage of net credit sales; both are amounts that appear on the income statement. This method emphasizes the matching of expenses with revenues. B) Accounts Receivable.............................................. Accounting principles third canadian edition chapter 8 answers to worksheet. $718, 970 Less: Allowance for Doubtful Accounts................ 21, 569 Net Accounts Receivable........................................ $697, 401 (c). Bad debt (d) 38, 400 End. Days to sell inventory.
Cash [$20, 000 - $3, 500 + $289].......... 16, 789 Accounts Receivable..................... 16, 789. During the year Toys for Big Boys has experienced a significant increase in sales due to the efforts of the sales staff. ANSWERS TO QUESTIONS 01. However, it is important that the sales staff be aware that, in order for the company to generate the cash it needs to continue operations, it is essential that Toys for Big Boys be able to generate cash from these sales. This is evidenced by the decrease in the average collection period from 36. Reliable customers may suddenly not be able to pay bills because of an unexpected decrease in revenues or an unexpected increase in expenses. Merchandise Inventory............... 1, 050. Interest Receivable............................ ($100, 000 x 5% x 3/12). The growth rate should be a product of management and operating results, not of "creative accounting". Q8-18 Q8-19 Q8-20 Q8-22 E8-12. Accounts Receivable......................... 639, 900 Sales............................................... Allowance for Doubtful Accounts. The decision to write-off an account simply identifies which accounts are not going to be collected. The inventory turnover and days sales in inventory will provide additional information – the days sales in inventory will tell you how long, on average it takes for inventory to be sold.
3 = 50 days 365 ÷ 7. 31 Accounts Receivable—DNR Co.... Notes Receivable—DNR Co...... Interest Receivable [$4, 800 x 6. D) $51, 000 [$48, 000 + $3, 000] (e). In order to determine if the increase is an improvement in financial health, other ratios that should be considered include: Quick ratio, receivable turnover and collection period; inventory turnover and days sales in inventory ratios. Net realizable value of accounts receivable and account for bad debts. Debit Balance Sales Collections Write-offs Recovery Payment. 5% x 7/12 = $700 $40, 000 x 8. It may be more relevant for the company to determine a percentage of receivables that it deems doubtful each year and adjust the balance in the doubtful accounts by recognizing a bad debts expense annually. 4 Less: Accumulated amortization............. 1, 144. The collection of an account that had previously been written off would decrease the net realizable value of accounts receivable. It would appear that Forzani's is managing their inventory more efficiently which has resulted in the decrease in number of days to sell inventory and overall operating cycle.
The company may have determined that the fees associated with selling the receivables are less than the cost of having to use short-term borrowings to finance operations. By regularly selling its accounts receivable, Suncor is able to more quickly convert receivables into cash. Jan. 5 Accounts Receivable................ 19, 000 Sales...................................... 20 Cash [$4, 500 - $146].................. Credit Card Expense [$4, 500 x 3. By allowing sales staff to assume the role of managing the credit function it appears that they have become too focused on sales without considering the quality of the sales and the ability of the customer to pay the receivable within a reasonable period of time. Accounts receivable. 2) Notes receivable are claims for which a formal credit instrument has been issued as proof of the debt. QUESTIONS (Continued) 18. B) June 1 Accounts Receivable...................... Application BE8-2 P8-2A BE8-3 P8-7A BE8-4 P8-9A E8-1 P8-1B E8-2 P8-2B E8-3 P8-7B P8-1A P8-9B BE8-5 P8-4A BE8-6 P8-5A BE8-7 P8-7A BE8-8 P8-8A BE8-9 P8-1B E8-4 P8-2B E8-5 P8-3B E8-6 P8-4B E8-10 P8-5B P8-1A P8-7B P8-2A P8-8B P8-3A BE8-10 E8-9 BE8-11 P8-8A BE8-12 P8-9A BE8-13 P8-8B E8-7 P8-9B E8-8 BE8-13 P8-7A BE8-14 P8-9A E8-3 P8-7B E8-9 P8-9B E8-10. ASSIGNMENT CHARACTERISTICS TABLE Problem Number 1A. Sales Returns and Allowances......... Accounts Receivable..................... 546, 300.
75% x 15/12 = $3, 291. Accounts receivable transactions. Bad Debts Expense 45, 500 Bad Debts Expense.................................... Allowance for Doubtful Accounts (e)... 45, 500 45, 500. Interest Receivable at September 30, 2008. When a customer makes a purchase using a credit card you will have to pay a percentage of the sale to the credit card company. Accounts Receivable..................................................... $255, 250 Less: Allowance for Doubtful Accounts........................ 20, 420 Net Realizable Value....................................................... $234, 830 The bad debts expense on the income statement would be $22, 870 – the amount required to bring the allowance to 8% of Accounts Receivable. 16, 455 Allowance for Doubtful Accounts [$22, 155 - $5, 700]................................... 26, 000 Accounts Receivable............................. 16, 455. 2007 # of Days Outstanding 0-30 days outstanding 31-60 days outstanding 61-90 days outstanding Over 90 days outstanding. Both can be sold to another party.
The interest previously accrued on this note should be written off, as well as the note itself. PROBLEM 8-9B (Continued) (c) Notes Receivable Explanation Ref. 1 Cash [$9, 000 + $45]............................ 9, 045 Notes Receivable—Brooks Company Interest Revenue [$9, 000 x 6% x 1/12]....................... 9, 000 45. From the income statement perspective, adjusting entries allow the correct expenses to be subtracted from revenue, which produces a correct net income. To keep financial statements relevant, IFRS allow assets to be revalued at some point after purchase in order to reflect fair market values. Weygandt, Kieso, Kimmel, Trenholm, Kinnear.
Bad Debts Expense................... 33, 300 Allowance for Doubtful Accounts. 5% x 3/12] 25 Notes Receivable—Avery.................. Accounts Receivable—Avery........ 6, 000. EXERCISE 8-7 (Continued) Dec. 31 Interest Receivable............................. Interest Revenue*.......................... *Calculation of interest revenue: Morgan: $24, 000 x 8% x 2/12 Wright: $4, 500 x 6% x 1/12 Barnes: $8, 000 x 7% x 0. Accounts receivable, at approximately 54% ($623 ÷ $1, 149) of current assets, are a material component. An increase in the current ratio normally indicates an improvement in short-term liquidity. A note usually bears interest for the entire period. From Chapter 6 Operating Cycle. 380 100 Andrew Noren Ref. Accounts Receivable................... 69, 580. 29, 000 ($35, 000 - $6, 000) is the amount Hohenberger would record as bad debts expense. Stewart Department Store Credit Card: July 11. BLOOM'S TAXONOMY TABLE Correlation Chart between Bloom's Taxonomy, Study Objectives and End-ofChapter Material Study Objective. 1 Notes Receivable............................... Accounts Receivable..................... 9, 000 9, 000. Bad Debts Expense (f)......................... Allowance for Doubtful Accounts (d) ($22, 750 - $21, 550 - $26, 350 = $25, 150).
If reporting periods were not divided into equal portions of time, then a business's financial statement could not be compared to a previous one. Show balance sheet presentation. The balance rose from $6, 000 to $15, 600. Amount $120, 000 32, 000 45, 000 78, 000 $275, 000. EXERCISE 8-7 Nov. 1 Notes Receivable–Morgan................. 24, 000 Cash................................................ Dec. 1 Notes Receivable–Wright.................. Each of the major types of receivables should be identified in the balance sheet or in the notes to the financial statements. The data contained in these files are protected by copyright. The number of days to sell inventory has decreased from 150. As a result, it is often easier for a retailer to sell the receivable to another party who has expertise in billing and collection matters. 25% of $1, 950, 000 net credit sales). Feb. 1 Notes Receivable—George................ 16, 000 Accounts Receivable—George..... Mar.