User Account

All Pages

What are the proceeds of the note

Assignment Help Accounting Basics
Reference no: EM132534014

Question - On July 1, Year 1, Broadway Financing agrees to loan Choctaw Investment Group money in exchange for a non-interest bearing note with a face value of $800,000, due in four years. The current market interest rate is 11%. Broadway has a fiscal year that ends on December 31.

Required -

1. What are the proceeds of the note?

2. Prepare the journal entry to record the issuance of the note.

3. Prepare the adjusting journal entries for December 31 Year 1 and Year 2.

4. What is the carrying value of the note at the end of Year 2?

Reference no: EM132534014

Questions Cloud

Estimate the change in market conditions : Estimate the change in market conditions (percentage change in price) per month, assuming we equally weight the two properties in our analysis
Who and what is the institute of management accountants : What is the purpose (mission) of the organization? Who and what is the Institute of Management Accountants?How many members are there
Make decisions about investing in stocks : As an investment manager, you frequently make decisions about investing in stocks versus other types of investments, and about types of stocks to purchase.
Explain the economic intuition behind amount : Explain the economic intuition behind this amount, and compare it to the socially optimal amount without solving for the socially optimal amount.
What are the proceeds of the note : The current market interest rate is 11%. Broadway has a fiscal year that ends on December 31. What are the proceeds of the note
Creating a poster to summarize your project outcomes : Effectively disseminate research outcomes to a variety of audiences using highly developed communication skills and work productively within a team of experts
What was the return on investment for the year : Bricker Fabrics reported a profit margin during the year of 20 per cent and an investment turnover of 40 per cent. What was return on investment for the year?
Global teams and globalization strategy : Pick one of the following terms for your research: economies of scale, economies of scope, global companies, global teams, globalization strategy,
Different types of problems small businesses : Small and medium enterprises have long been the engine of growth for economies around the world. Critically discuss the various economic contributions

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: +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