Determine the maturity value of the note

Assignment Help Managerial Accounting
Reference no: EM133150355

Question - Entries for Notes Receivable - Autumn Designs & Decorators issued a 120-day, 6% note for $30,000, dated April 13 to Zebra Furniture Company on account. Assume a 360-day year when calculating interest.

Required -

a. Determine the due date of the note.

b. Determine the maturity value of the note.

c1. Journalize the entry to record the receipt of the note by Zebra Furniture. If an amount box does not require an entry, leave it blank.

c2. Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank.

Reference no: EM133150355

Questions Cloud

Planning and managerial application : As a manager, why is Profit-Cost-Volume important in planning? Support your response with numerical example(s).
What value does certification of a house : What value does certification of a house (such as ICC 700, Energy Star, etc.) bring to the homeowner?
Discuss the expectancy model in the book : How does Anne Harrington discuss the expectancy model in the book called the Cure Within, explain with examples discuss how the exectancy model cam be used in t
Locate four examples of ponzi schemes : Conduct a search of the internet (be sure to use reputable sources) and locate four examples of Ponzi schemes.
Determine the maturity value of the note : Autumn Designs & Decorators issued a 120-day, 6% note for $30,000, dated April 13 to Zebra Furniture Company on account. Determine the maturity value of note
Assignment on banking services : Feel free to choose one of the services provided by banks and perform a comparative analysis of this service. Compare service similarities and differences (rate
Significant currency fluctuation or a change in government : List recent changes in Japan that may have an impact on business relationships there; for example, significant currency fluctuation or a change in government.
How much must you pay each quarter : If you will repay this loan in 16 equal quarterly payments beginning 3 months from now, how much must you pay each quarter
What is the nominal pre- tax terminal value : Assume that the real terminal value of this investment is $8,600 at the end of five years. What is the nominal pre- tax terminal value

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd