Bigco , Inc . transferred long-term receivables with a carrying value of $ 500,000 to Banco for $ 425,000 cash . Banco will collect interest on the receivables during the life of the receivables , but Bigco is obligated to repurchase the receivables prior to their maturity . What amount of receivables has Bigco surrendered control of for accounting purposes ?
Question 14
Which one of the following is not associated with accounting for a transfer of a financial asset treated as a sale by the transferor ?
Question 15
For accounting purposes , which one of the following is not a characteristic associated with the transfer of financial assets ?
Question 16
A change in the fair value of a derivative qualified as a cash flow hedge is determined to be either effective in offsetting a change in the hedged item or ineffective in offsetting such a change . How should the effective and ineffective portions of the change in value of a derivative which qualifies as a cash flow hedge be reported in financial statements ?
Question 17
A financial asset is transferred with one component of the asset appropriately treated as sold and another component appropriately treated as retained . How will the amount to be written off as sold be determined ?
Question 18
On September 1 , 2005 , Hall Corp . redeemed $ 500,000 of its 12 %, 15- year bonds . Related unamortized bond premium and issue costs at that