2015 may 1 received a 9000 12 months 10 note in exchange

Assignment Help Accounting Basics
Reference no: EM13590412

2015 May 1 Received a $9,000, 12 months, 10% note in exchange for Mark Chambers outstanding accounts receivable.

Dec. 31 Accrued interest on the Chamber note.

Dec. 31 Closed the interest revenue account.

2016 May 1 Received principal plus interest on the Chamber note. (No interest has been accrued in 2016.)

Reference no: EM13590412

Questions Cloud

A car traveling at 364 ms takes 270 minutes to travel a : a car traveling at 36.4 ms takes 27.0 minutes to travel a certain distance according to the drivers clock in the car.
As students sell books they bring the cash or checks to the : the soccer club decided to sell coupon books as a fund-raising activity. the books allow users to enjoy restaurants
080g of sodium hydroxide naoh pellets are dissolved in : 0.80g of sodium hydroxide naoh pellets are dissolved in water to make 6.5l of solution. what is the ph of this
Silverado company purchased equipment having an invoice : silverado company purchased equipment having an invoice price of 8000. the terms of sale were 210 n30 and silveradopaid
2015 may 1 received a 9000 12 months 10 note in exchange : 2015 may 1 received a 9000 12 months 10 note in exchange for mark chambers outstanding accounts receivable.dec. 31
Grand valley apparel company uses a job order cost system : grand valley apparel company uses a job order cost system. the following data summarizes the operations related to
For example electricity costs are 1300 per month plus 006 : lavage rapide is a canadian company that owns and operates a large automatic carwash facility near montreal. the
Joeys recording studio rents studio time to musicians in : joeys recording studio rents studio time to musicians in 2-hour blocks. each session includes the use of the studio
A paintball is aimed at a target and shot at an angle of : a paintball is aimed at a target and shot at an angle of 25 degrees above horizontal and lands at its original height

Reviews

Write a Review

Accounting Basics Questions & Answers

  John has earned income of 4200 he has 32900 of unearned

john has earned income of 4200. he has 32900 of unearned income.a. if he does not participate in an employer-sponsored

  Prepare the corrected income statement

Prepare the corrected income statement for theyear 2007 and 2008

  In may of this year mary-mark enterprises a business that

in may of this year mary-mark enterprises a business that uses the calendar year as its tax reporting year acquired a

  Problem regarding preferred stockholders

No dividends were paid the previous 2 years. If Koon declares $400,000 of dividends in the current year, how much will preferred stockholders receive if the preferred stock is cumulative?

  Assets cash and marketable securities 95 164 receivables

here are simplified financial statements of phone corporation from a recent year income statement figures in millions

  Donnelly corporation manufactures and sells t-shirts

donnelly corporation manufactures and sells t-shirts imprinted with college names and slogans. last year the shirts

  Entry to write off uncollectible account

Under the allowance method of recognizing uncollectible accounts, the entry to write off an uncollectible account

  2 years ago aspen ridge purchased a photo with the intent

1. for 2011 compete aspen ridge limited partnerships page 1 of form 1065 schedule k on page 4 of form 1065 complete

  Compute the total cost per unit at a production level

company manufactures a product that sells for 1.75 per unit. management recently finished analyzing the results of the

  Vidgam a consulting firm has just completed its first year

vidgam a consulting firm has just completed its first year of operations. the company sales growth was explosive. to

  Why is it important for financial statements and other

why is it important for financial statements and other external reports to be based on generally accepted accounting

  When a company uses the allowance method of accounting for

1. when using the direct write-off method of accounting for uncollectible receivables the account allowance for

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