User Account

All Pages

Prepare the adjusting entry at December

Assignment Help Accounting Basics
Reference no: EM132454087

Problem - On August 31, Jenks Co. partially refunded $180,000 of its outstanding 10% note payable, made 1 year ago to Arma State Bank by paying $180,000 plus $18,000 interest (having obtained the $198,000 by using $52,400 cash and signing a new 1-year $160,000 note discounted at 9% by the bank).

Required -

(1) Make the entry to record the partial refunding. Assume Jenks Co. makes reversing entries when appropriate.

(2) Prepare the adjusting entry at December 31, assuming straight-line amortization of the discount.

Reference no: EM132454087

Questions Cloud

Different types of mutagenic techniques : discuss what directed evolution is, what it is used for , different types of mutagenic techniques ( chemical mutagenesis) ,
Compare and contrast two different types of platforms : COMPARE and CONTRAST: PRECISION HAWK LANCASTER 5 and DGI MAVIC PRO!research paper that will compare and contrast two different types of platforms.
CC17-2 Object Oriented Programming Assignment : CC17-2 Object Oriented Programming Assignment Help and Solution, Majan University College - Assessment Writing Service - Develop an application using Swing
Discuss what are planning to model : What have you learned from the project and what would you suggest for future work to understand the results more fully.Discuss what are planning to model
Prepare the adjusting entry at December : On August 31, Jenks Co. partially refunded $180,000. Prepare the adjusting entry at December 31, assuming straight-line amortization of the discount
Describe the path of blood through the cardiac circuits : Classify and characterize white blood cells. Discuss a variety of blood disorders. Describe the path of blood through the cardiac circuits
How much preferred and common stockholders should receive : Show how much the preferred and common stockholders should receive if the preferred stock is cumulative and fully participating
Explain what is meant by the term normal accident : List at least four general behaviors or actions that Garcia took, which violated accepted industry safe practices for work in confined spaces.
What would be the diluted earnings per share : Assuming the income tax rate was 30%, what would be the diluted earnings per share for the year ended December 31, 2018? Show all computations

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