User Account

All Pages

Discuss the customer purchasing the land from corporation

Assignment Help Accounting Basics
Reference no: EM131785104

Corporation sold land having a fair market value of $1,400,000 in exchange for a 10 year non-interest bearing promissory note in the face amount of $3,022,488. Corporation purchased the land for $800,000 ten years ago. The customer purchasing the land from Corporation would normally be required to pay 9% interest.

Record the sale on Corporation's books.

Prepare any adjusting entry required at the end of the first year.

Reference no: EM131785104

Questions Cloud

Calculate the income tax rate for your chosen company : Calculate the income tax rate for your chosen company. What effect will an increase in income of $2,000,000 have on your company
Illustrates the effect of technological advancement : Create a graph that illustrates the effect of technological advancement on the different cost curves discussed in this module.
Recalculate the parameters of the trade barriers : Analyze in detail the trade barriers in the international cotton market that impact of the cotton industry
Possible to switch the order of processing of all parts : Suppose it is possible to switch the order of processing of all parts so that material first goes to facility 2 and then to facility 1,
Discuss the customer purchasing the land from corporation : the customer purchasing the land from Corporation would normally be required to pay 9% interest
How many days should janie schedule at each location : Manufacturing the Janie gioffre Drapery Company makes three types of draperies at two different locations. At location I, it can make 10 pairs of deluxe drapes.
Discuss relevant shareholders of the transactions described : Indicate the tax consequences to the relevant shareholders of the transactions described in each of the following independent Cases
What is the amount of cash april woods products received : What is the amount of cash April woods products received from customers during the reported period if its sales were $14 million?
What combination of the foods provides at the lowest cost : Nutrition two foods contain only proteins, carbohydrates, and fats. Food A costs $1 per pound and contains 30% protein and 50% carbohydrates.

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