Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question: Omega Chemicals Ltd. took a $450,000 two-year note receivable from a customer in connection with a major sale transaction on 1 May 2017. The note required annual 30 April interest payments of 4%, and the principal was due on 30 April 2019. Omega has a 31 December year-end.
Required: 1. Make journal entries to record the initial sale transaction and each payment on the books of Omega, assuming that the market interest rate is 4%
2. Assume now that the market interest rate is 5%. Calculate the present value of the note, and make a schedule that shows the interest for each year of the note receivable.
3. Make journal entries to record the initial sale transaction and each payment on the books of Omega, consistent with requirement 2. Use the gross method to record the note.
4. Assume that the market interest rate is 7%. Calculate the present value of the note, and make a schedule that shows the annual interest using the straight-line method of amortization.
You notice in the WSJ a bond that is currently selling in the market for $1,081 with a coupon of 9%, calculate the promised yield on this bond
If Belle Epoch Fashion uses the FIFO inventory cost flow assumption, what is its gross profit for the month
Lisa Gish is preparing for a meeting with her banker. Her business is finishing its fourth year of operations. In the first year, it had negative cash flows.
santaigos salsaproduction costsapril 2008production 20000 jars of salsaingredient cost variable 16000labor cost
Jinjie owns two parcels of business land (§ 1231 assets). Both land parcels have been held more than one year. What should Jinjie do based upon these facts
What is a strictly selfish commercial view? Why should a professional abandon the strictly selfish commercial view and keep in mind the advantage of the client?
Which one of the following successful strategies will increase the Return on Assets (ROA)? Earnings Before Interest (EBI) adjusts net income for which one of the following groups of items?
the federation of student societies wants to offer a one-day training course to help students in job hunting and to
determine the variable factory overhead controllable variance,- fixed factory overhead volume variance, - and total factory overhead cost variance.
Each employee works in excess of 600 hours and is paid wages of $7,500 during the year. Determine the amount of Lincoln's work opportunity credit
Prepare journal entries to record the accounting for both the normal and abnormal rework. What were the total rework costs of XD1 chips in August 2011?
Myles Company budgeted 10,500 pounds of direct materials costing $23.50 per pound to make 5300 units of product. What is the direct materials quantity variance?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd