User Account

All Pages

Discuss what is the journal entry for the transaction

Assignment Help Accounting Basics
Reference no: EM131817865

On January 2, each company borrowed $400,000 on a 20-year, 7 percent note payable. Interest plus $20,000 principal is due September 30 each year, beginning 20X1.

On September 30, the first $20,000 principal payment plus nine months' interest was made on the note payable described in Transaction 2. What is the journal entry for this transaction?

Reference no: EM131817865

Questions Cloud

Math sat scores are significantly lower : Gather data to see if disabled students' Math SAT scores are significantly lower than those of nondisabled students.
Determine the static budget variances : Tylon's Hardware uses a flexible budget to develop planning information for its warehouse operations. Determine the 20X9 static budget variances
Data actually contradict the onesided alternative hypothesis : In a case like this where the data actually contradict the onesided alternative hypothesis, what can you say about the size of the P-value?
Assembly line after taking flotation costs into account : What is the true cost of building the new assembly line after taking flotation costs into account?
Discuss what is the journal entry for the transaction : principal payment plus nine months' interest was made on the note payable described in Transaction 2. What is the journal entry for this transaction
Thesis statement- technology is changing our lives : Thesis Statement- Technology is changing our lives in three important areas. Poverty has numerous negative consequences for society, including.
Maximum price per share schultz should pay for arras : What is the maximum price per share Schultz should pay for Arras?
Quantitative environmental learning project : The Quantitative Environmental Learning Project (QELP) cited a study by the King County Division of Water and Land Resources on bacteria
Prepare a budgeted income statement : The $200,000 of selling and administrative expenses includes $40,000 of depreciation. Prepare a budgeted income statement for the month ended December

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