Environmental consulting services for hayduke co

Reference no: EM131779542

Question: On December 31, 2015, Grouper Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Grouper Co. agreed to accept a $261,600 zero-interest-bearing note due December 31, 2017, as payment in full. Hayduke is somewhat of a credit risk and typically borrows funds at a rate of 10%. Grouper is much more creditworthy and has various lines of credit at 6%.

Prepare the journal entry to record the transaction of December 31, 2015, for the Grouper Co. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Reference no: EM131779542

Questions Cloud

Bond yields for treasury securities : The Wall Street Journal or Barron's, find the bond yields for Treasury securities with the following maturities: three months, six months

Determine the new ending balance for each account : At December 31, 2015, certain accounts included in the property, plant, and equipment section of Townsand Company's balance sheet had the following balances.

Hula-hoops out of plastic tubing on machine called extruder : Hudsucker makes hula-hoops out of plastic tubing on a machine called an extruder.

What amount should vaughn record : At what amount should Vaughn record the leased equipment on October 1, 2017? (Round your answer to the nearest whole dollar.)

Environmental consulting services for hayduke co : On December 31, 2015, Grouper Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Grouper Co.

Example of a business or manager : Give an historical example of a business or manager that suffered from excessively focusing on profits for either the company or themselves.

Immigration deals with the meaning and power of words : One aspect of the debate over immigration deals with the meaning and power of words.

How would you proceed with handling the scenario : What elements of that style do you feel will be most helpful in resolving the problems faced? How would you proceed with handling the scenario?

What is the amount of residual value guaranteed by reagan : On December 31, 2015, Reagan Inc. signed a lease for some equipment having a nine-year useful life with Silver Leasing Co.

User Account

All Pages