Journalize the entry to record the transaction on june

Assignment Help Accounting Basics

Reference no: EM131012383

Fixed Asset Purchases with Note: On June 30, Techcram Management Company purchased land for $350,000 and a building for $450,000, paying $400,000 cash and issuing a 6% note for the balance, secured by a mortgage on the property. The terms of the note provide for 20 semiannual payments of $20,000 on the principal plus the interest accrued from the date of the preceding payment. For a compound transaction, if an amount box does not require an entry, leave it blank.

a. Journalize the entry to record the transaction on June 30.

b. Journalize the entry to record the payment of the first installment on December 31.

c. Journalize the entry to record the payment of the second installment the following June 30.

Reference no: EM131012383

Questions Cloud

Determine the maximum deflection of point a : The horizontal member is a solid steel beam with a height of 12 inches and a width of 3 inches. Determine the maximum load, P, that the structure can carry.

Define a teratogen : Define a teratogen and then choose either the embryonic period or the fetal period and describe the effect a teratogen may have during that period

Equal nominal annual payments : You buy a car, and take out a loan for $14,000 that has equal nominal annual payments over the next five years. The real rate of return on the loan is 4.3%, and the annual inflation rate is 2.6%. What will the payments be?

Savings account that earns effective annual interest rate : You plan to invest $600 in your savings account this year and then you intend to increase the amount that you invest by 3% each year. If you invest in a savings account each that earns an effective annual interest rate of 7% how much money will you h..

Journalize the entry to record the transaction on june : Journalize the entry to record the payment of the second installment the following June 30.

What should be length of tank to trap the particle in tank : A suspended solid particle of density 2200 kg/m3 is moving at 0.25 m/s of horizontal and 0.15 m/s of vertical velocity respectively in a sedimentation tank. If the depth of the tank is 2.0 m what should be the length of tank to trap the particle i..

Application of foundational cognitive developmental theories : Second, critique the statement that the Montessori Method may be the most sensitive to diversity of the application of foundational cognitive developmental theories

Provide values for shear and moment at nodes a and b : The system is made up of a contilever beam connected by pin at C to simply support the beam. Draw a shear / moment diagram. Provide values for shear and moment at nodes A,B,C,D,E, and F.

Compare the theories of piaget and vygotsky : In your initial post, compare and contrast the theories of Piaget and Vygotsky on cognitive development, the role of sociocultural influences, and the ability to account for typical and atypical development across developmental domains

User Account

All Pages