User Account

All Pages

Calculate the imputed interest rate

Assignment Help Financial Accounting
Reference no: EM132934520

Question - A private enterprise sold some merchandise for $160,000 on January 1, 2020. The customer paid $20,000 in cash and issued a note for the remainder. The principal will be due in 2 years, and a 5% interest is due every December 31st.

The customer's borrowing rate is unknown

Assume that the customer's borrowing rate is unknown and that the merchandise cash price is $150,000 (everything else holds true). Calculate the imputed interest rate and the interest revenue to be recorded on December 31, 2020 under IFRS.

How do compute the borrowing rate if it is interest bearing note?

Reference no: EM132934520

Questions Cloud

Maintaining healthy blood sugar levels : Explain the role that exercise plays in maintaining healthy blood sugar levels. (short and simple answer)
Amino acid sequence of the protein : Explain why one of the mutations on page 12.9 did not result in any change in the amino acid sequence of the protein.
Examine personality theories from the cognitive theoretical : Analyze Mrs. C's symptoms, including cultural considerations, from the perspective of a key idea from a theorist that you identified from the cognitive
Name the three types of muscle tissue : Name the three types of muscle tissue and answer the following questions about each:
Calculate the imputed interest rate : Calculate the imputed interest rate and the interest revenue to be recorded on December 31, 2020 under IFRS
What is percentage in other countries : United States, there is a rate of childhood obesity of roughly around 15%. But what is this percentage in other countries?
Discuss how perception of counseling has changed : Discuss how your perception of counseling has changed (if at all). Discuss how you imagine counseling fitting into your future as a professional.
What would you do to better off your operation : As a manager of a multi billion company earning an average annual net income of 500 Million. What would you do to better off your operation
What specific multicultural counseling competencies : What specific Multicultural counseling competencies will facilitate additional trust between Riza and Steve? Discuss the materials that you read in chapter.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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