User Account

All Pages

Prepare the wage entries Orange County will do

Assignment Help Accounting Basics
Reference no: EM132646130

Question - Orange County purchased a computer at a cost of $ 45,000. To finance the purchase, he signed a five-year promissory note, which requires five equal annual payments. Orange County will make the first payment in a year. Each payment will be in the amount of $ 12,795.

Required -

a. Determine the interest rate on this note.

b. Prepare the wage entries Orange County will do for the first payment and for the last payment.

c. Suppose that immediately after making the second payment, Orange County refinances and signs a new three-year note for the amount owed on the first note and the interest rate is 10.25%, how much will be the annual payment on the new note.

Reference no: EM132646130

Questions Cloud

Were revisions to financial statements correct or incorrect : Were the revisions to the financial statements correct or incorrect? Why or why not? Be sure to use detailed reasons to support your response
Calculate net pay for stephanie kaur : Calculate Net Pay. Stephanie Kaur is an employee in Alberta and is paid semi-monthly. She worked 82 hours this pay period at his regular rate of $30.50
Determine the employee income tax for the pay period : TD1 forms claiming the basic personal amount only. Determine the employee's income tax for this pay period, showing all calculations for full marks
How do calculate the income tax payable : How do Calculate the Income Tax Payable. To date he has had $773.40 in Canada Pension Plan contributions and $561.20 in Employment Insurance premiums deducted.
Prepare the wage entries Orange County will do : Orange County purchased a computer at a cost of $ 45,000. Prepare the wage entries Orange County will do for the first payment and for the last payment
Complete the last three columns of the tables : Complete the last three columns of the tables.The following tables list the hours worked by an employee over the period of a month. There are no compressed work
Calculate current ratio and acid-test ratio : Calculate each of the following ratios: (a) Current ratio (b) Acid-test ratio (c) Debt-to-total-assets ratio (d) Rate of return on assets
Compare the electoral college results with popular vote : Describe how the Electoral College works, discuss the results of the Compare the Electoral College results with the popular vote.
Find and complete an adjusted trial balance at september : Find and Complete an adjusted trial balance at September 30, 2018. The account have normal debit or credit balance. Assume the year ended on September 30, 2018.

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