User Account

All Pages

Prepare the journal entry to record the transaction

Assignment Help Accounting Basics
Reference no: EM132488348

Question - On December 31. 2017, Carla Vista Co. sold equipment to Tamarisk, Inc. Carla Vista Co. agreed to accept a $430,000 zero-interest-bearing note due December 31, 2019, as payment in full. Tamarisk, Inc. incorporated in 2017 and had very little credit history at the time of the transaction with Carla Vista. Therefore, at that time, Tamarisk typically borrowed funds at a rate of 8%. Carla Vista has along and positive credit history. Therefore, Carla Vista has various lines of credit at 4%. Prepare the journal entry to record the transaction of December 31, 2017, for Carla Vista CO.

Reference no: EM132488348

Questions Cloud

Which type of sampling and sampling type would : Which type of sampling and sampling type would a quantitative researcher choose when population is characterized by 3 groups
What is the approximate value of the inventory : Assuming the rate of gross pro?t to selling price is 40%, what is the approximate value of the inventory that was destroyed
Confidence interval for the average 10-week weight : Find the 90% confidence interval for the average 10-week weight for golden retriever puppies. Show/explain your work, and identify the following:
What is the present value of the five payments : The present value of an annuity (series of payments) for 5 periods at 6% is 4.2124. What is the present value of these five payments?
Prepare the journal entry to record the transaction : Carla Vista has various lines of credit at 4%. Prepare the journal entry to record the transaction of December 31, 2017, for Carla Vista CO
Prepare the companys multiple-step income statement : Prepare the company's multiple-step income statement for 2020. (Enter all amounts as positive values.). The following list of items was extracted from the Dec
LMR30 Learning Management and Research Assignment : LMR30 Learning Management and Research Assignment Help - The culture of fear withinworkplace health and safety - Your role as an insider-researcher
Estimating the mean gas : How large of a sample is required in order to be 90% confident of estimating the mean gas in the 2,000 milliliter container to within 20 milliliters?
How do you try to reassure the people : All of them are very suspicious and upset when they get a memo from HR saying their jobs are going to be evaluated. How do you try to reassure them?

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