User Account

All Pages

Make all journal entries necessary on slidells books

Assignment Help Financial Accounting
Reference no: EM13504657

On January 1, 2015, Slidell Company received a two-year, $500,000 loan, with interest payments occurring at the end of each year and the principal to be repaid on December 31, 2016. The interest rate for the first year is the prevailing market rate of 7%, and the rate in 2016 will be equal to the market interest rate on January 1, 2016. In conjunction with this loan, Slidell enters into an interest rate swap agreement to receive a swap payment (based on $500,000) if the January 1, 2016, interest rate is greater than 7% and will make a swap payment if the rate is less than 7%.

The interest swap payment will be made on December 31, 2016.

Make all journal entries necessary on Slidell's books in 2015 and 2016 to record this loan and the interestrate swap. On January 1, 2016, the interest rate is 6%.

Reference no: EM13504657

Questions Cloud

What is the electric flux through the cube : A particle of charge +1.5 nC is placed at a corner of a Gaussian cube with sides 12.0 cm. What is the electric flux through the cube
Record all necessary depreciation and amortization entries : Record all necessary depreciation and amortization entries on December 31, 2009 and prepare a partial balance sheet for Withers on December 31, 2009.
Prepare in good form a classified comparative balance sheet : Post the necessary entries to the work sheet to record the cash transactions for the year (adjustments column). Keep a separate record of the journal entries posted with a brief explanation in a general journal.
Explain what is the molality of glycerol in a solution : What is the molality of glycerol in a solution of 2.05 g of glycerol (C3H8O3) and 80.3 g of ethanol (C2H6O)
Make all journal entries necessary on slidells books : Make all journal entries necessary on Slidell's books in 2015 and 2016 to record this loan and the interestrate swap. On January 1, 2016, the interest rate is 6%.
Define carbon dating is a well-calibrated radiometric system : Carbon dating is a well-calibrated radiometric dating system used for items generally younger than 50,000 years old (14 C has a half-life of 5730 years).
Calculate the speed of the heavier fragment : An unstable particle at rest breaks up into two fragments of unequal mass. The mass of the lighter fragment is 2.30 10-28 kg, what is the speed of the heavier fragment
Compute the estimated warranty expense payable amount : Analysis shows that around 2 percent of A-line sales require after-sale repairs. Beginning July 1, 20x1, Jake's Computer Sales and Repair provides customers with a limited product warranty on each A-line computer sold. Sales of A-line computers to..
Estimate the total mechanical energy of the glider : A 0.550 {\rm kg} glider on an air track is attached to the end of an ideal spring with force constant 458 {\rm N}/{\rm m}; Compute the total mechanical energy of the glider at any point in its motion

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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