User Account

All Pages

Journalize the entry to record the receipt of payment

Assignment Help Financial Accounting
Reference no: EM133016436

Question - Valley Designs issued a 90-day, 8% note for $42,000, dated April 17, to Bork Furniture Company on account. Assume 360 days in a year when computing the interest.

a. Determine the due date of the note.

b. Determine the maturity value of the note.

c1. Journalize the entry to record the receipt of the note by Bork Furniture.

c2. Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank.

Reference no: EM133016436

Questions Cloud

Collect data on the number of customer services : ? A bank wishes to collect data on the number of customer services and the frequency ofcustomer use of these services.
What is the total assets : Fixed Assets is 283.50, Net Income is 50.00, Current Liabilities is 105.50, Current Ratio is 3.00x, Sales is 1000.00. Given the data what is the total assets
Conduct a financial cost-benefit analysis : Explain how Amazon might conduct a financial cost-benefit analysis of two day delivery. How would this financial cost-benefit analysis differ from an economic c
Marketing research will be valid resulting in actions : The faster an e-business can respond to the market, the more likely that information from areas such as marketing research will be valid resulting in actions th
Journalize the entry to record the receipt of payment : Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank
What is the seasonal factor for quarter 4 : The seasonal factors (also known as indices) for the first three quarters for the demand of snow blowers are 0.58,0.94,1.24. What is the seasonal factor for qua
Calculate the overhead applied to each job : Job 93 with a beginning balance of $8,650, Calculate the overhead applied to each job during the month of August
Introduce a successful new service : To introduce a successful new service, you should understand the industry in which you'll be offering the service. Select a service business that you'd like to
Improvement of existing product : Identify a good or a service for each of the following product development categories: new-to-the-market, new-to-the-company, improvement of existing product, a

Reviews

Write a Review

Financial Accounting Questions & Answers

  Question browns mill has two working units each of which is

question browns mill has two working units each of which is supposed an investment center for estimate purposes. the

  What changes on the balance sheet and by how much

If net income for the year is 20mm and the company pays 5mm in dividends, what changes on the balance sheet and by how much

  During its first month of operation the rawls repair

during its first month of operation the rawls repair corporation which specializes in bicycle repairs completed the

  Prepare an income statement in the contribution margin

Prepare an income statement in the contribution margin format and calculate the contribution margin per unit and the contribution margin ratio.

  Purchases of materials in january

Diamond (Pty) Ltd has a sales budget for March of $440 000. About 10% are cash sales and the remainder is sold on account.

  What is its EBITDA coverage ratio

A company has EBITDA of 600 million, interest payment s of 60 million, lease payments of 40 million, What is its EBITDA coverage ratio

  Calculate its cash flow on total assets ratio

A company reported operating cash flows of $57,000.00 and average total assets of $962,000.00. Calculate its cash flow on total assets ratio

  Explain the funder mental accountings concept

Explain with examples each of the following terms .. (a) Funder mental Accountings concept... (b) Accounting bases... (c) Accountings policies

  Express income statement data in common-size percents

Express the income statement data in common-size percents. Express the balance sheet trend percents with 2012 as the base year (round percents to two decimals).

  What is the maximum exchange ratio

What is the maximum exchange ratio acceptable to the shareholders of Carl Ltd., if the P/E ratio of the combined firm is 6

  Enter the number in all cells

Enter the number in all cells that contain question marks.

  Prepare income statement for the year ended

The adjusted trial balance for Chiara Company as of December 31, 2013, follows. Debit Credit Cash $ 47,000 Accounts receivable 69,000 Interest receivable 26,500. Prepare statement of retained earnings for the year ended December 31, 2013. Prepare Chi..

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