Reference no: EM133055526
Questions -
Q1. On January 1, 20x1, BLATANT NOISY Co. acquired a piece of equipment by paying cash of 400,000 and issuing a noninterest-bearing note of 4,000,000 due on January 1, 20x4. There is no cash price equivalent for the equipment.
On January 1, 20x1, Sunday Calm Co. issued a 4,800,000, 3-year, noninterest-bearing note due in equal semi-annual payments starting July 1, 20x1. The effective interest rate is 10%.
On January 1, 20x1, DWINDLE DECREASE Co. acquired a vehicle in exchange for cash of 400,000 and a noninterest-bearing note of 4,000,000 due in 4 equal annual installments starting on December 31, 20x1. The prevailing rate of interest for this type of note is 12%.
The effective interest rate on the note is 12%. How much is the carrying amount of the note on initial recognition?
A. 2,847,120
B. 3,247,120
C. 2,000,000
D. 2,786,309
E. None of these
How much interest expense should Sunday Calm Co. recognize in 20x1?
A. 203,028
B. 350,780
C. 279,830
D. 376,207
E. None of these
How much is the current portion of the note on December 31, 20x1?
A. 711,780
B. 613,409
C. 814,342
D. None of these
E. 718,324
|
Calculate the cost of goods sold
: WCE has N$74 million of accounts receivable, N$60 million of inventory, and N$128 million of accounts payable. Calculate the Cost of Goods Sold
|
|
Fake gucci and organized crime
: So what's the big deal about purchasing a fake designer handbag ? The Continuing Criminal Enterprise Statute (CCE) to combat global organized financial crimes
|
|
What is the IRR of this investment
: Gamma Electronics is considering the purchase of testing equipment that will cost $500,000 to replace old equipment. What is the IRR of the investment
|
|
Child pornography is found on corporate computer
: If Child Pornography is found on a corporate computer, what should an employee avoid doing? Are deleted files ever really gone? Why or why not?
|
|
How much is the carrying amount of the note
: DWINDLE DECREASE Co. acquired a vehicle in exchange for cash of 400,000. How much is the carrying amount of the note
|
|
What is the contribution margin per unit
: In terms of costs; an employee gets paid $30 per lesson and the annual fixed costs are $18 000. What is the contribution margin per unit
|
|
What is the minimum price per batch
: The customer has requested 1,500,000 metres of boards for a total of $7,182,000. What is the minimum price per batch
|
|
What must be the price
: Question - What must be the price of a $1,000 bond with a ?5.6% coupon?rate, annual? coupons, and 20 years to maturity if YTM is 9.9%? APR
|
|
Show the journal entries to be made by both Crane and Walsh
: The building has a fair value of $ 22,500, a book value to Crane of $ 15,500, Show the journal entries to be made by both Crane and Walsh
|