Desrocher ltd. issued an instalment note on january 1, 2014, Accounting Basics

Assignment Help:

Desrocher Ltd. issued an instalment note on January 1, 2014 (with a required yield of 9%), in exchange for land that it purchased from Safayeni Ltd. Safayeni's real estate agent had listed the land on the market for $120,000. The note calls for three equal blended payments of $43,456 that are to be made at December 31, 2014, 2015, and 2016.
A)Prepare an effective-interest amortization table for the instalment note for the three-year period.


Related Discussions:- Desrocher ltd. issued an instalment note on january 1, 2014

What is intangible assets, Q. What is Intangible Assets? Intangible ass...

Q. What is Intangible Assets? Intangible assets consist of the nonmonetary, noncurrent, nonphysical assets of a business. Companies should charge the costs of intangible assets

The weighted average number of common shares, On December 31, 2003, Jamfest...

On December 31, 2003, Jamfest Travel Inc. had 450,000 shares of no-par common stock issued and outstanding. All shares were sold for $7.50. On June 30, 2004, the firm issued an add

Social responsibility accounting, Social Responsibility Accounting: So...

Social Responsibility Accounting: Social responsibility accounting is a modern phase in the development of accounting and owes its birth to rising social awareness that has be

Accounting principle , The salaries paid in 2004 is Rs. 5,00,000; Salaries ...

The salaries paid in 2004 is Rs. 5,00,000; Salaries outstanding  is  Rs. 20,000; Salaries paid in advance for 2004 is Rs. 30,000. What is the actual salary expenditure for 2004? Wh

Explain the difference between various funds, Research the major funds of y...

Research the major funds of your state or local government and nonprofit organizations. • What are the major funds of your state or local government, and how do they differ in n

Explain about trial balance, Q. Explain about Trial balance? Trial bala...

Q. Explain about Trial balance? Trial balance -- at the close of an accounting period, transactions posted in the ledger areadded up. A trial or test balance sheet is prepared

A light truck is purchased on january 1 at a cost of $27, A light truck is ...

A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for t

Chnages, What is the latest change taking place in the accounting world tha...

What is the latest change taking place in the accounting world that will make a big difference to the way accountants prepare accounts?

Write Your Message!

Captcha
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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd