User Account

All Pages

Prepare the journal entries that parker grocery would record

Assignment Help Accounting Basics
Reference no: EM13871458

The following transactions took place for Parker's Grocery.

a. Jan. 1 Loaned $ 50,000 to a cashier of the company and received back a one-year, 8 percent note.

b. June 30 Accrued interest on the note. 

c. Dec. 31 Received interest on the note. (No interest has been recorded since June 30.)

d. Dec. 31 Received principal on the note. 

Required: 

Prepare the journal entries that Parker's Grocery would record for the above transactions.  

Reference no: EM13871458

Questions Cloud

What is the hedge portfolio in iapm : What assumptions must be added to the traditional CAPM to derive the IAPM? What is the hedge portfolio in IAPM? What is the difference between an integrated and a segmented capital market?
Research proposal and literature review : This task will take the form of a research proposal and literature review. You should choose a topic from your field of study to research. You should then analyse three different texts on the topic. There will also be a short reflective task to bring..
The conversion option allowed the holder of each : On January 1, 2009, when its $30 par value common stock was selling for $80 per share, a corporation issued $10 million of 10% convertible debentures due in 10 years.
What other requirements must be met for the primary : What other requirements must be met for the primary government to be considered financially accountable for that organization?
Prepare the journal entries that parker grocery would record : The following transactions took place for Parker's Grocery. a. Jan. 1 Loaned $ 50,000 to a cashier of the company and received back a one-year, 8 percent note. b. June 30 Accrued interest on the note. c. Dec. 31 Received interest on the note. (No int..
Assignment on mini strategic audit : Mini Strategic Audit
Which financial reporting can assist : List three ways in which financial reporting can assist in fulfilling government duty to be publicly accountable and can also assist users in assessing that accountability.
How does coercion and duress taint the interrogation process : How does coercion and duress taint the interrogation process
What measurement focus and basis of accounting : What measurement focus and basis of accounting should be used in reporting each of the three fund categories in fund financial statements?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Lucinda lopez is a cost accountant for northern apparel inc

lucinda lopez is a cost accountant for northern apparel inc. marcus murry vice president of marketing has asked lucinda

  Howelll audio manufactures military compact discs the

howelll audio manufactures military compact discs. the standard hours 27 minutes standard rate per hour 6.40 standard

  Ramos trucking won a settlement in a lawsuit and was

ramos trucking won a settlement in a lawsuit and was offered four different payment alternatives by the defendants

  In may 2011 french real estate company issued convertible

q. in may 2011 french real estate company issued convertible bonds with a total face value of 480 million. each 1000

  Non-controlling interest income

Jeremy reported net income of $50,000 for 2003. Non-controlling interest income that will appear in the consolidated income statement for 2003 is:

  Image text transcribed for accessibility montana company

montana company produces basketballs. it incurred the following costs during the year.direct materials14863direct

  Determining the tax consequences

Josephine is considering taking a 6-month rotation in Paris for her job. Which type of authority may be especially helpful in determining the tax consequences of Josephine's job in Paris?

  A company allocates 750 overhead to each unit produced the

a company allocates 7.50 overhead to each unit produced. the company uses a plantwide overhead rate with direct labor

  Departmental overhead rates may not correctly assign

departmental overhead rates may not correctly assign overhead costs due to a. the use of direct labor hours in

  Heathrow issues 2000000 of 6 15-year bonds dated january 1

heathrow issues 2000000 of 6 15-year bonds dated january 1 2011 that pay interest semiannually on june 30 and december

  Qualitative characteristics that make financial information

Which of the following is related to the qualitative characteristics that make financial information useful?

  An asset was purchased for 12000 the assets estimated

an asset was purchased for 12000. the assets estimated useful life was 3 years and its residual value was 2000. how

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