User Account

All Pages

How much is the carrying amount of the note on december

Assignment Help Accounting Basics
Reference no: EM133145554

Question - On January 1, 2019, a company acquired transportation equipment by paying cash of P400,000 and issuing a noninterest-bearing note payable of P4,000,000 due in 4 equal annual installments starting December 31, 2019. The prevailing rate of interest of this type of note is 12%.

Required -

1. How much is the interest expense in 2019?

2. How much is the carrying amount of the note on December 31, 2019?

3. How much is the noncurrent portion of the note on December 31, 2019?

Reference no: EM133145554

Questions Cloud

How can you support sustainable work practices : 1. How can you identify and comply with sustainability legislation/regulations and organisational policies and procedures?
What is the equity component of the convertible debt : On January 1, 2021, Rowlet Corporation. Issued a 3 year, 8,000, P1,000 convertible bonds at 110. What is the equity component of the convertible debt
Type of culture change : When a company is not performing to its maximum potential, the culture and employees are often considered since employees are the biggest asset of a company. Wh
Employee relationships for hm fashion company : How can knowledge transfer create value in employee relationships for H&M fashion company?
How much is the carrying amount of the note on december : On January 1, 2019, a company acquired transportation equipment by paying cash of P400,000. How much is the carrying amount of the note on December
Patient self-collection of data : What challenges does patient self-collection of data (e.g., personal health monitors, at-home blood pressure, and blood glu testing) present in terms of data in
Sustainable development of the corporation : The hotel and resort corporation you work for, which is one of the largest in the US, has asked you to identify a shortlist of candidates to recruit to be the n
Implement in order to retain employees : One of them being the lack of pay and other benefits. What are some solutions that companies can implement in order to retain employees?
Falciani whistleblowing from two ethical perspectives : Write an analysis, on the actions of Mr Harve Falciani whistleblowing from two ethical perspectives (use two from the following list: Utilitarianism, Ethical Eg

Reviews

Write a Review

Accounting Basics Questions & Answers

  Sales- analysis study appendix 2a the rocky mountain

sales- mix analysis study appendix 2a. the rocky mountain catering company specializes in preparing mexican dinners

  How many shares must be sold

The share currently sells for $8.00 and there are 150 million shares outstanding. How many shares must be sold if the subscription price is $7.50

  Discuss lisa had experience operating a small bakery

Jeff currently owned a fast-food franchise business while Lisa had experience operating a small bakery

  What is the absolute return to assets

Total assets end of the year - $200.000, Net Farm Income = $23.000, Interest Expense -SI 5.000, and Leverage ratio =1.5. What is the absolute return to assets.

  Find the date of issue the township general long-term

Find the date of issue the Township's General Long-Term Liability accounts would reflect total liabilities for bonds payable liability of

  What is the internal rate of return

Question - Locil Corporation recently purchased a new machine for $240,310 with a five-year life. What is the internal rate of return

  Compute the estimated inventory at May

Inventory, May 1 $174,600. Compute the estimated inventory at May 31, assuming that the gross profit is 25% of net sales

  Ending retained earnings balance problem

The following selected amounts are available for Sanders Company. What is its ending retained earnings balance?

  Its income statement reported the following items income

the esposito import company had 1 million shares of common stock outstanding during 2013. its income statement reported

  Compute the total cost of borrowing for bonds

Cullumber Company issued $650,000 of 5-year, 9% bonds at 96 on January 1, 2020. Compute the total cost of borrowing for bonds

  Transaction impact the accounting equation

Suppose your company sold $25,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation? Suppose your company sold $50,000 in merchandise to a customer for cash. How does this transaction impact the accou..

  Prepare the journal entries needed for evans at december

Prepare the journal entries needed for Evans at December 31, 2017. Determine how the entry for the sale in 2016 would affect the SCF.

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