User Account

All Pages

Find how does company record the receipt of the note

Assignment Help Financial Accounting
Reference no: EM132594723

Question 1: General Motors. Made a loan and received in exchange a 3 year, $120,000 note bearing interest 3.5 percent. The market rate of interest for a note of similar risk is 3.5 percent. How does company record the receipt of the note? Do calculations for discount amortizations if applicable along with early journal entries the company had to pass.

Reference no: EM132594723

Questions Cloud

Make a partial Statement of Cash Flows for Somerset Company : Common Stock exchanged for outstanding Long Term Notes Payable of $150,000. MAKE a partial Statement of Cash Flows for Somerset Company
Unique strategic challenges : What are some of the unique strategic challenges that Christian universities face? How has the unprecedented Covid-19 pandemic crisis impacted your life?
Why does an acquirer need to use fair value measurement : IFRS 3 Business Combinations states, Critically justify why does an acquirer need to use fair value measurement methods with regard to IFRS 3?
Describe the typical developmental stages of children : Choose a child between the ages of 5 and 12 years old. Identify the age of the child and describe the typical developmental stages of children that age.
Find how does company record the receipt of the note : How does company record the receipt of the note? Do calculations for discount amortizations if applicable along with early journal entries company had to pass
Write lex input file that will produce scanner : Write Lex input file that will produce scanner that capitalizes all comments in C program. Write rule in Lex to print integer numbers that are multiple of five.
How does the company record the receipt of the note : How does the company record the receipt of the note? Do calculations for discount amortizations if applicable along with early journal entries
Identify three users of financial statement : Identify Three (3) users of financial statement and briefly explained information that they would like to know from the financial statements.
Find Towson Company Net Cash Flows from Operating Activities : Common Stock exchanged for outstanding Long Term Notes Payable of $125,000, find Towson Company's Net Cash Flows from Operating Activities

Reviews

Write a Review

Financial Accounting Questions & Answers

  Estimate behavior of maintenance costs incurred by liberty

Using the high-low method of cost estimation, estimate the behavior of the maintenance costs incurred by Liberty Bell Fitness, Inc. Express the cost behavior pattern in equation form.

  What is the implied required rate of return on equity

Operating income of Rs. 3,60,000 and the overall capitalization rate of the company, k0 is 18%, what is the implied required rate of return on equity?

  Prepare general journal entries to record adopted budget

The Town of Willingdon adopted the following General Fund budget for fiscal year 2017: Estimated revenues: Taxes $ 15,600,000 Intergovernmental revenues 850,000 Licenses and permits 390,000 Fines and forfeits 120,000 Miscellaneous revenues 70,000 Tot..

  Write income statement presentation

Indicate whether each situation would be included in the income statement in continuing operations (CO) or below continuing operation (BC), or if it would appear as an adjustment to retained earnings(RE). Use the format show below to answer requir..

  What is the contribution margin per unit

Your team has been hired to provide financial analysis for a company. Based on the Break-Even Analysis just performed, what is the contribution margin per unit?

  What are potential advantages and disadvantages of index

What are some potential advantages and disadvantages of the index? What if we don't have any input from managers to calculate Weights?

  Prepare journal entry on bostons books for debt restructure

Prepare the journal entry on Boston's books for the debt restructure. Prepare the journal entry on San Diego's books for the debt restructure.

  Considering income limitations or the standard deduction

In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) neither deductible for nor deductible from AGI before considering income limitations or the standard deduction. Fran spent $97 fo..

  Bill is the president of the company

Bill hires Tom to be a salesman, and gives Tom the right to enter into contracts with customers for the sale of widgets made by the firm.

  Companys overall net operating income

Lusk Company produces and sells 16,100 units of Product X each month. The selling price of Product X is $31 per unit, and variable expenses are $25 per unit. A study has been made concerning whether Product X should be discontinued.

  Using the profitability index-mutually exclusive projects

Using the profitability index, which of the following mutually exclusive projects should be accepted?

  How would you rectify the error made by the bank

Where would you record cheque no 220 which was not yet presented for payment? (refer to "i" in the above information provided to you)

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