Entry when conan collects the principal and total interest

Assignment Help Financial Management
Reference no: EM131490486

On 10/1/12, Conan lent $30,000 to another company. The other company signed a nine-month, 12% note that is dated 10/1/12 and matures with interest on 6/30/13. Prepare the 12/31/12 adjusting entry and the entry when Conan collects the principal and total interest on 6/30/13.

Reference no: EM131490486

Questions Cloud

What is the optimal distribution of income : Suppose there are only two people, Simon and Charity, who must split a fixed income of $100. For Simon, the marginal utility of income is MUs = 400 - 2Is.
Weekly payment plan have less total cash outflow each? year : Why does the weekly payment plan have less total cash outflow each? year?
What went wrong in the revenue cycle : These questions are: What went wrong in the revenue cycle? How would you suggest rectifying this issue
Moving past the ground observer : What would the period of oscillation be (as measured by the same observer) if the mass and spring were moving past the ground observer at a speed of 0.600c?
Entry when conan collects the principal and total interest : Prepare the 12/31/12 adjusting entry and the entry when Conan collects the principal and total interest on 6/30/13.
Elemental analysis of materials : Does elemental analysis of materials by EDX method is dependent on phase (solid, liquid, gas) or state of chemical bonding (metallic, ionic, covalent).
Show how to convert an in-kind subsidy into a cash subsidy : President Vladimir Putin of Russia recently pro-posed replacing in-kind subsidies such as free public transportation and rent free apartments for government.
The fund used the fee and carry structure : how much carry would GP have received, and how much distribution would LP have received?
Can we conclude that an individual would be worse off : A food stamp is a voucher that can be used only to purchase food. Suppose that the government provides eligible people with food stamps worth 20 units of food.

Reviews

Write a Review

Financial Management Questions & Answers

  Assume that sales-operating costs-total assets-tax rate

Last year Hamdi Corp. had sales of $500,000, operating costs of $450,000, and year-end assets of $355,000. The debt-to-total-assets ratio was 17%, the interest rate on the debt was 7.5%, and the firm's tax rate was 35%. The new CFO wants to see how t..

  Correct discount rate for cash flows from developed wells

An oil company is drilling a series of new wells that are adjacent to an existing oil field. About 20% of the new wells will be dry holes and will produce zero oil. If the wells do, in fact, strike oil, they have different expected values. What is th..

  Is futures overpriced or underpriced relative to fair value

The current price of silver is $30 per ounce. Assume that the storage cost is zero. The 3-month interest rate is 4% per annum (with continuous compounding). A CME silver futures contract is current trading at $28 (per ounce) will mature in three mont..

  Method of transferring ownership interest in corporation

A hostile takeover is the main method of transferring ownership interest in a corporation. Unlimited liability and limited life are two key advantages of the corporate form over other forms of business organization. A corporation is a legal entity th..

  Make deposits into an educational savings account

Suppose that a young couple has just had their first baby and they wish to insure that enough money will be available to pay for their child's college education. They decide to make deposits into an educational savings account on each of their daught..

  Future value of an annuity-time for a lump sum to double

Find the future values of these ordinary annuities. Compounding occurs once a year. Round your answers to the nearest cent. How long will it take $400 to double if it earns the following rates? Compounding occurs once a year. Round each answer to two..

  Universal toddler industries stock market conditions change

As an equity analyst you are concerned with what will happen to the required return to Universal Toddler Industries stock as market conditions change. Suppose rRF=5% rM =12% and bUTI = 1.4. Under the current conditions what is rUTI, the required rate..

  How much would it have to pay at the maturity date

Assume an organization could issue a zero coupon bond at an annual interest rate of 4 percent with semi-annual compounding for 20 years. If it receives $2,264.45 for the bond, how much would it have to pay at the maturity date?

  Treasurer effectively hedge away

The treasurer for Pittsburgh Iron Works wishes to use financial futures to hedge her interest rate exposure. She will sell five Treasury futures contracts at $143,000 per contract. It is July and the contracts must be closed out in December of this y..

  What is the annual ordering cost of post card inventory

Post card depot, a large detailer of post cards orders 7,664,874 post cards per year from its manufacturer. Post card depot plans on ordering post cards 12 times over the next year. Post card depot receives the same number of post cards each time it ..

  Breakeven analysis-calculate breakeven price

Breakeven Analysis: Calculate the breakeven price from the information. total variable costs and total revenue intersect. total revenue outpaces total avoidable fixed costs. total costs and total revenue intersect.

  How does a futures contract differ from a forward contract

How does a futures contract differ from a forward contract?

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