User Account

All Pages

Determine necessary general journal entries to record

Assignment Help Accounting Basics
Reference no: EM132478649

Point 1: On 1 November 2014 Morelife Manufacturing arranged a $22,000 note receivable for a customer who was having issues paying an account receivable. The life of the note was 90 days, with an interest rate of 9%/annum. Assume the annual accounting period ends on December 31st and reversing entries are not performed. Assume a 365 day year.

Question 1: You are required to show all the necessary general journal entries to record the above information to ensure that the issue and maturity of the note are properly reported for Morelife Manufacturing (Show calculations in your answer).

Reference no: EM132478649

Questions Cloud

What is the four-firm concentration ratio of the hamburger : What is the four-firm concentration ratio of the hamburger industry in this town?
Create a statement of cash flows for anderson corporation : Create in good form (showing essential information), a statement of cash flows for Anderson Corporation for the year ended December 31, 20X2
What role does marketing research play in marketing plan : What role does marketing research play in our overall marketing plan? What are its strengths and weaknesses. Be sure to identify at lease one strength.
What are the long-run marginal and average cost functions : What is the long-run equilibrium price in the market, and how much will each firm produce in equilibrium?
Determine necessary general journal entries to record : Determine necessary general journal entries to record to ensure that the issue and maturity of the note are properly reported for Morelife Manufacture
Find a criminal case that involved digital forensics : Do a bit of research on-line. Find a criminal case that involved Digital Forensics. Using WORD, write an ORIGINAL brief essay of 350 words about 3 paragraphs.
Define hardware in health information systems : Define hardware in Health Information Systems and give at least 2 examples of hardware.
What is the price elasticity of supply of bananas : 1. Economics research is more than conventional sciences. Discuss four (4) reasons in support of the given statement.
What makes such significant field to be in its applicability : Data Science is a vastly growing field. Part of what makes this such a significant field to be in is its applicability to many other fields and nearly every.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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