Compute for the gain or loss on discounting of promissory

Assignment Help Accounting Basics

Reference no: EM132836854

Problem 1: On January 1, 2020, BSA Company loaned money to ABC Company in exchange for 12%, one-year promissory note.. On August 31, 2020, the promissory note was discounted at 15% and received P622,440.00 as proceeds. Compute for the gain or loss on discounting of the promissory note. (Show computations). Prepare the entries on January 1, 2020 and on August 31, 2020.

Reference no: EM132836854

Questions Cloud

Enter the balances on the proper side of the t account : Enter the balances on the proper side of the T account. Johnson cleaning service has the following account balances on december 31 20X1

How you identified opportunities to use digital tools : In 250-500 words, provide a rationale explaining why you chose the specific instructional strategies for your lesson plan. How did your chosen research-based.

What was the amount of cost of goods manufactured last month : What was the amount of cost of goods manufactured last month? TechCom Inc. manufactures laptops. Last month, direct materials (e.g., computer components)

Understanding of microbial growth control : In this activity you have the opportunity to apply your understanding of microbial growth control.

Compute for the gain or loss on discounting of promissory : Compute for the gain or loss on discounting of the promissory note. (Show computations). Prepare the entries on January 1, 2020 and on August 31, 2020.

What is the expected rate of return : The company has a beta coefficient of 1.5. The risk free rate of return is 4%. What is the expected rate of return for the shareholders of the company

Describes information processed by management accountants : American Institute of Certified Management Accountants have established which of the following Standard of Ethical Conduct for management accountants

In what way do you feel connected to buildings in your life : "Architecture is not about math or zoning - it's about visceral emotions," says Marc Kushner. Discuss your thoughts on the Marc Kushner video.

MASC 0011 Quantitative Methods Assignment : MASC 0011 Quantitative Methods Assignment Help and Solution, Middle East College - Assessment Writing Service - Construct and solve Linear Programming models

User Account

All Pages