How much is the carrying amount of the receivable

Assignment Help Accounting Basics
Reference no: EM132886786

Question - On January 1, 20x1, ABC Co. sold machinery with historical cost of 3,000,000 and accumulated depreciation of 900,000 in exchange for a 3-year, 2,100,000 noninterest-bearing note receivable due in equal semi-annual payments every July 1 and December 31 starting on July 1, 20x1. The prevailing rate of interest for this type of note is 10%. How much is the carrying amount of the receivable on December 31, 20x1?

Reference no: EM132886786

Questions Cloud

Growth of management theories and approaches : Discuss the following external factors below that influence HR: Political-Legal factors, Social-Cultural factors, Economic factors, Technological factors
Prepare the company equity section from December : On January 1, 2016, Sunlight purchased 200 shares of its common stock for $60 per share. Prepare the company equity section from December
Sentiment analytics and product development : Investigative Report - Sentiment Analytics & Product Development and Discuss the value proposition of chatbots and outline the business opportunities
Do you think that organizational culture can be changed : Organizational culture can be an instructive but also an elusive concept.
How much is the carrying amount of the receivable : The prevailing rate of interest for this type of note is 10%. How much is the carrying amount of the receivable on December 31, 20x1
What is constructive criticism : What is constructive criticism? How should constructive criticism be used?
What is constructive criticism : What is constructive criticism? How should constructive criticism be used?
Downsizing scenario for management approval : - Provide the 30 % downsizing scenario for management's approval with financial calculations and risks.
Determine the value of Barry gifts : Barry creates a trust with property valued at $7 million. In the month the trust is created, the interest rate is 4.4%. Determine the value of Barry's gifts

Reviews

Write a Review

Accounting Basics Questions & Answers

  Yut company paid a utility bill of 500 and paid rent of

yut company paid a utility bill of 500 and paid rent of 700 in december. by how much would these events reduce

  Prepare journal entries to record the transactions

Flora Accounting Services completed these transactions in February: Purchased office supplies on account, $300, Prepare journal entries to record transactions

  Prepare the journal entries to reflect expiration

Prepare the journal entries to reflect expiration of the insurance and correctly report the balance of the Supplies account

  Which costs is a period cost for a manufacturing company

Which costs is a period cost for a manufacturing company? staff welfare for factory employees. / insurance on factory equipment

  Explain the concept of cost-volume-profit

Problem - Greenfield Corporation uses a calendar year end. The memo should clearly explain the concept of cost-volume-profit (CVP) analysis

  Determine cash from operations

Using an indirect method statement of cash flows from a publicly traded company, discuss an item that was recorded when calculating net income

  How can we say that price equals to the present value

How can we say that price equals to the present value of all future cash flows when many actual investors may be seeking capital gains and planning to hold their shares for only a year or two? Explain.

  What is chloe federal income tax filing status

Christopher died in 2017 and is survived by his wife, Chloe, and their 18-year-old son, Dylan. What is Chloe Federal income tax filing status

  Calculate the amount of instalment

Calculate the amount of instalment Assuming small corporation assume the combined federal and provincial taxes payable for the year ending December

  Estimate the stock current market value

Nachman Industries just paid a dividend of D0 = $1.32. Analysts expect the company's dividend to grow by 30% this year, by 10% in Year 2, and at a constant rate of 5% in year 3 and thereafter. The required return on this low risk stock is 9%. What..

  Fastball delivery company acquired an adjacent lot of

fastball delivery company acquired an adjacent lot of construct a new warehouse paying 30000 and giving a short-term

  The market value of mason corporation

The market value of Mason Corporation's common stock had become excessively high.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd