User Account

All Pages

Explain how the notes payable would be reported

Assignment Help Accounting Basics
Reference no: EM132692458

Problem - On the first day of the fiscal year, Shiller Company borrowed $85,000 by giving a seven-year, 7% installment note to Soros Bank. The note requires annual payments of $15,772, with the first payment occurring on the last day of the fiscal year. The first payment consists of interest of $5,950 and principal repayment of $9,822. Explain how the notes payable would be reported on the balance sheet at the end of the first year.

Reference no: EM132692458

Questions Cloud

What amount of realized gain or loss should dutch company : Dutch Company has 60,000 ordinary shares of Grand Company. What amount of realized gain or loss should Dutch Company recognize in selling these shares?
Explain the cost structure of many high-technology firms : Explain the cost structure of many high-technology firms and articulate the strategic implications of this structure.
What is financial accounting : What is financial accounting? How does it differ from managerial accounting?
What is the carrying value of the securities on december : What is the carrying value of the securities on December 31, 2020 on Dickinson's balance sheet. No sales occurred during 2020
Explain how the notes payable would be reported : The first payment consists of interest of $5,950 and principal repayment of $9,822. Explain how the notes payable would be reported on the balance sheet
Explain benefit corporations and b lab certification : Discuss the differences between co-operatives, benefit corporations and B Lab certification.
Explain and calculate debt-equity ratio : Explain and calculate Debt-equity ratio. Trade and other receivables (all trade debtors) 110 000. Inventories (all trading stock) 1 640 000
Different roles and activities required for hr managers : What are different roles and activities required for HR Managers?
How the revenue recognition principle applies : How the revenue recognition principle applies. Do you believe that the cash-basis or the accrual-basis income statements are more useful to management?

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