User Account

All Pages

Record the initial entry and adjustment needed on december

Assignment Help Accounting Basics
Reference no: EM132460679

Question 1. On June 1, 2019, Abt Associates pays for a 36 month insurance policy totaling $45,000 that starts immediately. They pay this so early because the vendor gives them a 10% discount. The $45,000 reflects the discounted price.

Problem a. Record the initial entry and the adjustment needed on December 31, 2019.

Reference no: EM132460679

Questions Cloud

What is the maximum lease payment : What is the NAL for Wildcat? What is the maximum lease payment that would be acceptable to Wildcat?
What is triangular arbitrage : What is triangular arbitrage? What is a condition that will give rise to a triangular arbitrage opportunity?
Exchange rate between the british pound : Over the past five years, the exchange rate between the British pound and the U.S. dollar has changed from about 1.90 to about 1.45.
Which set of cash flows is worth more now : Use what you have learned about the time value of money to analyze each of the following decisions:
Record the initial entry and adjustment needed on december : Record the initial entry and the adjustment needed on December 31, 2019. They pay this so early because the vendor gives them a 10% discount.
Restructure debt and reforms with better terms : How did greece restructure debt and reforms with better terms in order to get their country out of debt? How did this benefit them?
Determine the common stock is no-par with a stated value : List the journal entries for these transactions, assuming that the common stock is no-par with a stated value of $2 per share,the common stock has a par value
What is its return on equity : A firm has Total Assets of $4,800 and Total Equity of $3,200. If its Total Asset Turnover rate is 1.25, and a profit margin of 8%, what is its Return on Equity?
Tax system regressive-progressive-proportional : Based on your calculations for these individuals, is the tax system regressive, progressive or proportional? Why?

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