Company borrowed 10000 on a 5 year 9 percent installment

Assignment Help Accounting Basics
Reference no: EM13485146

Company borrowed $10000 on a 5 year, 9 percent installment note with quarterly payments of $626.42. How much of the first payment is principal?

Reference no: EM13485146

Questions Cloud

Compare and contrast typical accounting information systems : compare and contrast typical accounting information systems in a small under 2 million sales 10 employees company
Describe the primary services a bank provides to a firm how : describe the primary services a bank provides to a firm. how is the bank compensated for these
Corporation issues a 1000000 three-year noninterest : corporation issues a 1000000 three-year noninterest bearing note how much cash will it receive if the interest rate is
Describe the organizational forms a company might have as : describe the organizational forms a company might have as it evolves from a start-up to a major corporation. list the
Company borrowed 10000 on a 5 year 9 percent installment : company borrowed 10000 on a 5 year 9 percent installment note with quarterly payments of 626.42. how much of the first
Indicate the effects that each of the 5 adjusting journal : indicate the effects that each of the 5 adjusting journal entries will have upon each of the following six sections of
Determine the equivalent units of production for cereal : assume the inventory in process for february 1 for the packing department included 1200 pounds of cereal in the packing
Determine a cash payments schedule for january through : bombs away video games corporation has forecasted the following monthly salesjanuary 100000 july 45000february 93000
Describe the methods available to a firm for expediting the : describe the methods available to a firm for expediting the collection of

Reviews

Write a Review

Accounting Basics Questions & Answers

  Transaction and commercial substance

Corans delivery company and Enrights express delivery changed delivery trucks on Jan 1, 2010. Coran's truck cost $22,000. It has accumulated depreciation of $15,000 and a fair market value of $4000. Enrights truck cost $10,000. It has accumulated ..

  The healthy spring water company sells bottled water for

the healthy spring water company sells bottled water for offices and homes. the price of the water is 20 per 10 gallon

  Role of the different types of auditors

Examine the role of the different types of auditors. Determine what situations are most appropriate for each type of auditor.

  Internal auditors-forensic accounting investigations

How should internal auditors help, if at all, with forensic accounting investigations?

  Discuss tax rates, distributions and operating losses

Discuss and consider tax rates, distributions, operating losses and A and B shareholder loans under each alternative and Discuss and analyze the cases of Moline Properties and Roubik (set forth in Bittker , Chapter 1.05(1)(b) and Chapter 1, foot..

  Why does a corporation buy back its own stock

Why does a corporation buy back its own stock? What do you think this tells you about the corporation?

  Discussion on ifrs why choose ifrs

Discussion on IFRS, why choose IFRS? what is the advantages and disadvantages for developments company to follow IFRS?

  Relevant to decesion about obsolete parts

The part would be sold for $7000 or modified for $10000 and sold for 20300. Which of data is relevant to the decesion about the obsolete parts?

  Sale and the first interest payment

Assume the bonds are sold at par, and that interest is paid semi-annually. Record below the sale and the first interest payment.

  Decreasing both net income and retained earnings

Increase in prepaid insurance expense, an asset, decreasing both net income and retained earnings by $6,000 and decrease in cash of $6,000.

  Differences between tax and accounting income

Woody Corp. had taxable income of $8,000 in the current year. The amount of MACRS depreciation was $3,000 while the amount of depreciation reported in the income statement was $1,000. Assuming no other differences between tax and accounting income..

  Safe travel is concerned with the high upfront cost of

safe travel produces car seats for children from newborn to 2 years old. the company is worried because one of its

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd