User Account

All Pages

Prepare companys journal entry to record the notes issuance

Assignment Help Managerial Accounting
Reference no: EM13546714

On january 1 a company borrowed $70000 cash by signing a 9% installment note that is to be repaid with 4 annual year-end payments of $21607 the first which is due on december 31 year 1.

a. prepare the company's journal entry to record the note's issuance

b. prepare the journal entries for the first and second installment payments

Reference no: EM13546714

Questions Cloud

Bad debt expense for the year balance : Bad debt expense for the year balance in the allowance account after the adjustment of Dec 31
What would be the indifferent point : What would be the indifferent point?
Discuss the capital budgeting process : Discuss the capital budgeting process and the inputs that are used in capital budgeting.
Clay was extracted from a soil sampling tube to form : Clay was extracted from a soil sampling tube to form a cylindrical sample 100 mm in diameter and 100mm in length.the sample was weighed in its natrual moist state and found to have a total mass of 1531g
Prepare companys journal entry to record the notes issuance : Prepare the company's journal entry to record the note's issuance, prepare the journal entries for the first and second installment payments
Prepare a report for the firm ceo indicating : Prepare a report for the firm's CEO indicating which projects should be accepted and why
How does it impacts the accounting equation : How does it impacts the accounting equation. Make sure to identify the two accounts impacted. Why is it important to record your selected transaction?
Determine the expected net realizable value : Determine the expected net realizable value of the accounts receivable as of Dec 31 and journalized the adjusting entry.
Which material will result in the lightest member : Which material will result in the lightest member if you want to limit the elongation to 0.20 in.? Which material will be cheaper under these conditions?

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Maga company which has only one product has provided the

maga company which has only one product has provided the following data concerning its most recent month of

  Find differences between governmental entities and nonprofit

At least 1 slide should explain at least 2 differences between governmental entities and nonprofit, nongovernmental agencies, including an example of each difference.

  Problem 1on 1 january johnson set up valleyviewplaygyms

problem 1on 1 january johnson set up valleyviewplaygyms company tomanufacture and sell childrens outdoor playgyms. he

  Computing advantage to making or buying

Curtis Corporation is beginning to manufacture Mighty Mint, a new mouthwash in a small spray container. The product will be sold to wholesalers and large drugstore chains in packages of 30 containers for $19 per package.

  Question 1sue grabbit amp runne is a firm of

question 1sue grabbit amp runne is a firm of solicitors.there are three partners anne mary and jane.there is a

  Determining cost systems-tioga company

Tioga Company manufactures sophisticated lenses and mirrors used in large optical telescopes. The company is not preparing its annual profit plan.

  About the merger and acquisition activity of the coca cola

Select one acquisition the company has undertaken during recent history and explain details of the deal. About the merger and acquisition activity of the Coca Cola

  Determining retail management

You are a retail store manager (big box retailer) that needs to present the district team with a proposal. A family owned sporting goods store is closing. You (the store manager) need to come up with a proposal and give the presentation to the dis..

  The biggest challenges that accounting profession will face

The biggest challenges that the accounting profession will face over the next decade

  Find an article on intercultural or international issues

Perform a search in the Business Week archives. Find an article on intercultural or international issues in managerial or corporate communication.

  What is the current dividend

Dividends are expected to continue to grow at a rate of 8% annually. If investors in High Brow require a 13% rate of return, what is the current dividend?

  You are a manager in a fictitious company of your choice

you are a manager in a fictitious company of your choice. your director has asked you to explain to the department

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