User Account

All Pages

A business issued a 30-day 4 note for 60000 to a creditor

Assignment Help Accounting Basics
Reference no: EM13598402

A business issued a 30-day; 4% note for $60,000 to a creditor on account. Illustrate the effects on the accounts and financial statements of recording:

a. The issuance of the note and

b. The payment of the note at maturity, including interest.

Reference no: EM13598402

Questions Cloud

According to a summary of payroll of newman publishing co : according to a summary of payroll of newman publishing co. 600000 was subject to the 7.5 fica tax. also 50000 was
Post to the stockholders equity accounts use j5 as the : alexia corporation was organized on january 1 2012. it is authorized to issue 14510 shares of 8 100 par value preferred
Awesome audio works inc warrants its products for one year : awesome audio works inc. warrants its products for one year. the estimated product warranty is 2 of sales. assume that
Fairfax company uses weighted-average process costing to : fairfax company uses weighted-average process costing to account for its production costs. direct labor is added evenly
A business issued a 30-day 4 note for 60000 to a creditor : a business issued a 30-day 4 note for 60000 to a creditor on account. illustrate the effects on the accounts and
Berkley company a manufacturer of many different products : berkley company a manufacturer of many different products changed its inventory method from fifo to lifo. the lifo
Monthly budgeted fixed overhead is 6000 revenues for the : moran labs performs steriod testing services to high schools colleges and universities. because the comapny deals
Lon warwick is an ordained clergyman serving his local : which of the following is a taxable fringe benefit?employer pays for subscriptions for professional journals delivered
Vidro company prepares monthly cash budgets revevant data : vidro company prepares monthly cash budgets. revevant data from operating budgets for 2012 are january sales 350000

Reviews

Write a Review

Accounting Basics Questions & Answers

  Break-even point and margin of safety

In the middle of the year, the price of Lake Corporation's major raw material increased by 8%. How would this increase affect the company's break-even point and margin of safety?

  Make a cost of goods manufactured schedule

Elias Corporation has the following cost records for February 2013- Prepare a cost of goods manufactured schedule for February 2013

  Various costs associated with the operation of factories

various costs associated with the operation of factories are given below. classify each cost as either variable or

  He company charges a price of 650 total fixed cost is

he company charges a price of 6.50 total fixed cost is 314400 per year and the break even point is 131000 units. what

  Intern in preparing some key reports

Management of Berndt Corporation has asked your help as an intern in preparing some key reports for August. The beginning balance in the raw materials inventory account was $33,000.

  Journalize the entries to record the transactions

The following selected transactions were completed by Bodyworks Co. during October of the current year. Journalize the entries to record the transactions of Bodyworks Co. for October.

  Efficient use of organisational operational precedures

Briefly describe the two types of strategies that companies may choose to persue. how can the efficient use of organisational operational precedures promote the effective implementation of company strategy?

  Units were started into production in department

How many units were started into production in Department 1?

  What is the amount of sj corporations loss

Jennie purchased 50 percent of the shares of SJ Corporation, a calendar year S corporation, for $7,000. She also guaranteed a corporate loan of $6,000. For 2011, SJ Corporation had an operating loss of $22,000. What is the amount of SJ Corporation..

  Northwick company dividend revenue

The following January, Shaver announced a $100,000 net income for 2011 and declared a cash dividend of $.50 per share on its 100,000 shares of outstanding common stock. The Northwick Company dividend revenue from Shaver Corp. in January 2011 would..

  Calculate the maintenance cost

Calculate the maintenance cost that would be budgeted for the month of May in which 5,700 machine hours are planned to be used.

  Compute i the contribution margin for the current year and

lopez corporation has collected the following information after its first year of sales. net sales were 1600000 on

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