User Account

All Pages

Calculate the portion of the year based

Assignment Help Accounting Basics
Reference no: EM131765619

On December 1, DEF Company agreed to accept a $10,000 45-day note from a customer which bears 6% interest. Assume that no interest has been recorded during the year. If DEF uses the cash basis, how much interest revenue needs to be recorded on December 31? (calculate the portion of the year based on 360 days and round to the nearest dollar)

Reference no: EM131765619

Questions Cloud

Majority shareholder of unique new investment corporation : Tank is a director and the majority shareholder of Unique New Investment Corporation (UNIC).
Frequency of urination and urgency : Ms. Smith is 27 years old and has been experiencing painful and difficult urination (dysuria), frequency of urination and urgency.
Especially vulnerable for terrorist attacks : The constant flow of large numbers of people in and out of hotels during daily business hours makes them especially vulnerable for terrorist attacks.
What is the gain recognized on this reorganization : The assets transferred have a basis of $14 million. What is the gain recognized on this reorganization
Calculate the portion of the year based : calculate the portion of the year based on 360 days and round to the nearest dollar
What is economic production quantity-inventory level : What is the economic production quantity? What will be the maximum inventory level? What will be the maximum inventory level?
Evaluate the role played by contract auditors : Evaluate the role played by contract auditors. Write clearly and concisely about cost and price analysis using proper writing mechanics.
Effectiveness of using epidemiologic principles : Evaluate the cost effectiveness of using epidemiologic principles as a prophylactic measure, as opposed to a lack of health oversight in disadvantaged.
What is the depreciation schedule per year : Purchased a truck for $140,000 cash on the 1st of January. The truck will be depreciated overan 8 year period. You decide to use the 200% declining-balance.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Most long-term notes payable are paid in installments the

1.a company should use the depreciation method that best matches depreciation expense against the revenues produced by

  Why a company would use straight-line depreciation for

cape horn company purchased a building on march 1 1988 at acost of 4186000. for financial reporting purposes the

  If oakland college outsources maintenance it will be able

oakland college is considering outsourcing grounds maintenance. in this regard oakland has received a bid from highline

  Which type of financing, debt or equity

Which type of financing, debt or equity, increases the risk factor of a business?

  Astaire company uses the gross profit method to estimate

astaire company uses the gross profit method to estimate inventory for monthly reporting purposes. presented below is

  Bp makes a variety of ceramic sinks and tubs ebp has just

bp makes a variety of ceramic sinks and tubs. ebp has just developed a line of sinks and tubs made from a mixture of

  Determine phylliss deductible travel expenses

Determine Phyllis's deductible travel expenses.(This is a tax research case for grad school that I have to prepare a presentation for).

  Product using the production method

Assuming Sunny Day accounts for the by product using the production method, what is the inventoriable cost for each product and Sunny Day's gross margin?

  Trying to get the priceearning ratio for the coca-cola

trying to get the priceearning ratio for the coca-cola company for the last 5 years starting in 2011.

  Axillar beauty products corporation is considering the

axillar beauty products corporation is considering the production of a new conditioning shampoo that will require the

  Prepare a one-page memorandum for clemens

Dustin Clemens is the accounting and finance manager for a manufacturer. At year-end, he must determine how to account for the company's contingencies.

  Liquidation expenses were expected

Inlcuded in Perry's capital balance is a $20,000 partnership loan owed to Perry. Perry, Quincy, and Renquist shared profits and losses in a ratio of 2:4:4. Liquidation expenses were expected to be $15,000.

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