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IA Valix 2020 (Problem 4-1 Answer)

The document lists various receivable accounts including trade receivables, notes receivables, installment receivables, advances to suppliers, claims receivables, subscription receivables, and accrued interest receivable. It notes that advances to subsidiaries should be classified as long-term investments, while customer credit balances and advances from customers are short-term liabilities that are included in trade and other payables.

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7K views

IA Valix 2020 (Problem 4-1 Answer)

The document lists various receivable accounts including trade receivables, notes receivables, installment receivables, advances to suppliers, claims receivables, subscription receivables, and accrued interest receivable. It notes that advances to subsidiaries should be classified as long-term investments, while customer credit balances and advances from customers are short-term liabilities that are included in trade and other payables.

Uploaded by

Baby Mushroom
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© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Problem 4-1

a.) Trade accounts receivables 775,000


Trade notes receivables 100,000
Installments receivables 300,000
Advances to supplies 150,000
Advances to subsidiary 400,000
Claim to receivable 15,000
Subscribtion receivables 300,000
Accrued interest receivable 10,000
Customers credit balance 30,000
Advances from customer 20,000
Receivables 2,000,000

b.) Trade accounts receivables 775,000


Allowance for doubtfulaccounts (50,000)
Trade note receivables 100,000
Installment receivables 300,000
Advances to supplies 150,000
Claim to receivable 15,000
Subscribtion receivables 300,000
Accrued interest receivable 10,000
1,600,000
c.) Advances to subsidairy is classified as non-current and presented as long term investment
Customers credit balance and Advances from customerare calssified as current liabilities and
included as a part of " trade and other payable.
tment
ilities and

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