How much is the interest income for the year ending december

Assignment Help Financial Accounting

Reference no: EM132831674

Question - LINDT Corporation manufactures and sells electrical generators. On May 31, 2020, it sold an electrical generator costing 700,000 for 1,000,000. The buyer paid 100,000 down and signed a 900,000 non-interest bearing note payable in three equal installments starting May 31, 2021. Assume the prevailing interest rate for a note of this type is 12%. The present value of an ordinary annuity of 1 for three periods is 2.4018. How much is the Interest income for the year ending December 31, 2021?

Reference no: EM132831674

Questions Cloud

Search in internet for ford motor company : What are Ford Motor company mission statement and the names and background of the key leaders?

What costs should be assigned to equipment : Company A made a lump sum purchase of three pieces of equipment for P2,000,000 from Nihon Company. What costs should be assigned to equipment

Understanding of reference groups : Based on your own understanding of reference groups, how effective would brand ambassadors be as reference groups for relatively expensive

Difference between extrinsic and intrinsic motivation : What motivates you? Which theories of motivation do you think best explain your own motivation?

How much is the interest income for the year ending december : The present value of an ordinary annuity of 1 for three periods is 2.4018. How much is the Interest income for the year ending December 31, 2021

LAW 6001 Taxation Law Assignment : LAW 6001 Taxation Law Assignment Help and Solution, Laureate International Universities - Assessment Writing Service - Identify and analyse the tax treatment

Prepare the journal entry to record the purchase order : On January 18, purchase order #12098 was approved to acquire 30 ink cartridges for $22 each from Office Depot. Prepare the journal entry to record the purchase

Differences between cash from operating activities : What are the differences between cash from operating activities, cash from investing activities, and cash from financing activities?

Reflect on kolb learning preferences : Reflect on Kolb's Learning Preferences. What is your learning preference?

User Account

All Pages