User Account

All Pages

How would enter on an accounting journal entry

Assignment Help Financial Accounting
Reference no: EM132476569

Point 1: Your parents lend the company $10,000 cash in exchange for a two-year, 6% note payable. Interest and the principal are repayable at maturity.

Question 1: How would enter this on an accounting journal entry. There are two spots to enter debits and 1 spot to enter credit. Would calculate the interest rate and enter it under debit and then the sum of both debits under credit?

 

Reference no: EM132476569

Questions Cloud

Classical arguments for trade protection and restriction : Discuss and evaluate the two classical arguments for trade protection and restriction
Republic of sirius balance of payments in 2018 : Organize the above data into the appropriate categories for the current and capital accounts; determine the current account balance, the capital account balance
What would happen to its foreign-currency reserves : What would that government buy? What would it sell? What would happen to its foreign-currency reserves?
Compute the recorded cost of the machine : On August 1, 2018, Dahomey Corp. purchases a new machine. Dahomey pays installation costs of $1,000. Compute the recorded cost of the machine
How would enter on an accounting journal entry : Enter debits and 1 spot to enter credit. Would calculate the interest rate and enter it under debit and then the sum of both debits under credit?
Flattening of the philips curve : Do you think that technological advances attributed to the flattening of the Philips Curve?
What are the returns to scale of the production function : Suppose that the economy is characterized by this Cobb-Douglas production function: Y = 60K1/3L2/3
Explain under what conditions oligopolistic market structure : Explain under what conditions oligopolistic market structures lead to higher productive and allocative efficiency and more choice for consumers compared
What do you want to be when you grow up : What do you want to be when you grow up? Still not sure? Ask around. You're not alone. Chances are, your friends and relatives aren't certain either.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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