Solution-Prepare the journal entry at the date of purchase

Prepare the journal entry at the date of purchase

Assignment Help Accounting Basics

Reference no: EM132170067

Question - Ayayai Corporation purchased a computer on December 31, 2016, for $144,900, paying $41,400 down and agreeing to pay the balance in five equal installments of $20,700 payable each December 31 beginning in 2017. An assumed interest rate of 10% is implicit in the purchase price.

Prepare the journal entry at the date of purchase.

Reference no: EM132170067

Questions Cloud

What is the amount of interest that should be capitalized : During 2017, Bonita Industries constructed assets costing $3960000. What is the amount of interest that should be capitalized by Bonita during 2017

Streamline chain-supply management : How does Walmart use Global Positioning Satellite technology to streamline chain-supply management?

How will your system adapt to new products and processes : Explain how your information system addresses or can adapt to the introduction of these new product offerings.

What was your main term course : What was your Main term course? Reflect on the connection between knowledge or concepts from this courses and how those have been or could be applied.

Prepare the journal entry at the date of purchase : Ayayai Corporation purchased a computer on December 31, 2016, for $144,900, Prepare the journal entry at the date of purchase

Discuss the purpose of the security development life cycle : Discuss the purpose of the security development life cycle and how it is used for testing security systems. Using the Internet, find two to three tools.

The public traded company that was chosen is sonos : The public traded company that was chosen is Sonos. The company is a technology company and went as an initial public offering (IPO) on August 2, 2018.

What dollar amount of sales for each product is required : If the sales mix remains constant, what dollar amount of sales for each product is required to achieve a net income of $400,000 for the year

Define risk and costs of compromised data integrity breaches : Discuss the risk and costs of compromised data integrity breaches. Focus on integrity not confidentiality. Look at military, education, science, medicine.

User Account

All Pages

Prepare the journal entry at the date of purchase

Reference no: EM132170067

Reference no: EM132170067

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT