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How to enter these in a Interest expense, InterestReceivable, Interest Income Journal. Some how my ending balance isnot going to good, i don't want to use the computer calcuator iwant to learn how to calcualate it manually.
NOTES PAYABLEDate.......Description...............................InterestRateJan 1......100,000 note due in 9 mths...............9 %Feb 1......75,000 note due in 6 mths................12%NOTES RECEIVABLEFeb 1......60,000 note due in 3 mths.................6%
Assume all interest is paid at maturity and none of the notesare paid early.What should be the entry for interest expense on March31?What entry should be recorded in the interest receivableaccount for Friday?How much interest income should be recorded for the yearending December 31?How much interest expense is recorded for the year endingDecember 31How much cash will be paid for the January 1 note, plusinterest, on October1?
In a manufacturing company the proper journal entry (without numbers) to record the purchase of direct materials would be:
Ending inventory consisted of 5,000 units which were 80% complete with respect to materials and 60% complete with respect to conversion costs.
Which of the following items on the income statement is not disclosed net of tax?
Suppose the two firms act as perfect competitors and try to out compete each other and do not collude, what would be the optimal industry price and output?
A corporation issues for cash $2,000,000 of 8%, 15-year bonds, interest payable annually, at a time when the market rate of interest is 7%. The straight-line method is adopted for the amortization of bond discount or premium. Which of the followin..
Matthew was a participant in his employer's contributory qualified pension plan. The plan balance of $2 million is paid to Olivia, Matthew's daughter and beneficiary. The distribution consists of the following.
At the end of the first year of operations, 7,500 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows.
Its U.S. net assets and liability amounts are $4,000,000 and $2,000,000 at the beginning of the year and $4,200,000 and $2,300,000 at the end of the year, respectively. What is Ou's dividend equivalent amount?
Slagle Corporation is a large manufacturing organization. Over the past several years, it has obtained an important component used in its production process exclusively from Harrison, Inc., a relatively small company in Topeka, Kansas. Harrison ch..
A recent college graduate is trying to save for his retirement. He believes that he will most likely be able to place $1800 in his retirement account at the beginning of each of the next 40 years. His goal is to retire after 40 years of work with ..
Dirt Bike Co in Japan has a division that manufactures two-wheel motorcycles. Its budgeted sales for Model G in 2003 is 800,000 units. Dirt Bike's target ending inventory is 100,000 units, and its beginning inventory is 120,000 units.
Listed below are transactions dealing with various stock benefit plans of Fortune-Time Corporation during the period 2009-2011. The market price of the stock is $45 at January 1, 2009. Prepare the Journal entries that Fortune-Time recorded for each..
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