User Account

All Pages

Prepare an instalment payment schedule

Assignment Help Accounting Basics
Reference no: EM132549300

Question - Andreas Wines Ltd. issued an $810,000, five-year, 6 percent mortgage note payable on December 31, 2020, to help finance a new warehouse. The terms of the mortgage provide for semi-annual blended payments of $94,957 on June 30 and December 31 of each year.

Required -

1. Prepare an instalment payment schedule for the first two years of this mortgage.

2. Record the issuance of the mortgage note payable on December 31, 2020.

3. Report mortgage payable on the December 31, 2020, balance sheet. Use the principal reduction to calculate the current portion.

4. Journalize the first two instalment payments on June 30, 2021, and December 31, 2021.

Reference no: EM132549300

Questions Cloud

Devise an implementation strategy in brief : Devise an implementation strategy that would guarantee the support of the divisional presidents for the shared customer service center.
Discuss approaches for producing valid results : Discuss approaches for producing valid results in data mining problems. What about statistical testing for cluster analysis and/or anomaly detection?
Drug court judge and drug user is appearing : You are a drug court judge and a drug user is appearing before you for the fourth time. This offender has more potential than you have seen in a long time.
Compute the variances for june for direct materials price : Corporation, Compute the variances for June Direct materials price and usage variances. Direct labor rate and efficiency variances.
Prepare an instalment payment schedule : Andreas Wines Ltd. issued an $810,000, five-year, Prepare an instalment payment schedule for the first two years of this mortgage
Determine the standard purchase price for one gram : Find the standard purchase price for one gram of "A-B". Compute the standard quantity of "A-B" per unit of "Abab" that passes final inspection.
Substantive law-procedural law-criminal law : Discuss the differences between substantive law, procedural law, criminal law, civil law, common law, and statutory law.
How the loss of the systems would affect the organization : Explain why you believe planning is important. Select one of the following businesses: a large bank, a government agency, or a hospital, and explain which.
What is the degree of operating leverage : You are considering a new product. It will cost $966,000 to launch, have a 3-year life, and no salvage value. What is the degree of operating leverage

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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