User Account

All Pages

Journalize the previous transactions for sun company

Assignment Help Accounting Basics
Reference no: EM131791969

SUN Company had the following transaction during 2015

September 1,2015 SUN Company sold merchandise of $150,000 to ABZ Company and accepted three notes ;

First Note: $30,000, 12%, 2-months note

Second Note; $45,000,12%, 3-months note

Third Note: $ 75,000, 12%, 4-months note

November 1,2015 SUN Company received full payment for the first note.

December 1,2015 The second note was dishonored but SUN Company expects the ABZ Company will pay at late date.

December 20,2015 SUN Company received full payment from ABZ Company for the second note that was previously dishonored.

December 31,2015 The third note was dishonored. SUN Company does not expect future collection from ABZ Company.

Instructions;- Journalize the previous transactions for SUN Company required during 2015.

Reference no: EM131791969

Questions Cloud

One of the contingencies of influence is discretion : The difference between power and influence lies in the premise that. One of the contingencies of influence is "discretion"
Discuss measures that may be used to assess the quality : Discuss measures that may be used to assess the quality of a firms reported earnings. Obtain an annual report for a large corporation and perform a quality.
Research and analyze a case involving ethical issues : Using the internet, research and analyze a case involving ethical issues surrounding corporate governance from a global position.
Role in someone getting involved in a cult : In what ways do you believe that the need for belonging can play a role in someone getting involved in a cult?
Journalize the previous transactions for sun company : Journalize the previous transactions for SUN Company required during 2015.
Prepare the statement of cash flows of red inc : Prepare the statement of cash flows of Red, Inc. for the year ended December 31, 2011. Present cash flows from operating activities by the direct method
How does change control plan assist : How does a change control plan assist in helping the project manager & his team decide when to initiate a change request process?
Project scope defines : The PMBOK guide refers to. Project Scope defines.
Compute the segment margin to see : Compute the segment margin to see if this segment should be dropped. Remember to include only relevant costs that are avoidable if dropped.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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