User Account

All Pages

Journalize the transactions for elburn supply co

Assignment Help Accounting Basics
Reference no: EM131704630

Question - Elburn Supply Co. has the following transactions related to notes receivable during the last 2 months of 2017. The company does not make entries to accrue interest except at December 31.

Nov. 1 Loaned $14,000 cash to Manny Lopez on a 12-month, 12% note.

Dec.11 Sold Goods to Ralph Kremer, Inc., receiving a $28,000, 90-day, 10% note.

16 Received a $28,600, 180 day, 12% note in exchange for Joe Fernetti's outstanding accounts receivable

31 Accrued interest revenue on all notes receivable.

Journalize the transactions for Elburn Supply Co.

Reference no: EM131704630

Questions Cloud

Compute 3ms accounts receivable turnover : The financial statements of Minnesota Mining and Manufacturing Company (3M) report net sales of $20.0 billion. Compute 3M's accounts receivable turnover
Define governmental-typefund and proprietary-type fund : State which category of funds (governmental-type, proprietary-type, or fiduciary-type) would be used by a state government for each of the following purposes.
Determine overall goals of the marketing plan : Determine overall goals of the marketing plan.Development of the digital platform: how to better find and connect to key influencers.
How procurement type indicates a material is produced : In 3-4 pages, explain how procurement type indicates whether a material is produced in house (via the production process) and obtained externally.
Journalize the transactions for elburn supply co : Elburn Supply Co. has the following transactions related to notes receivable during the last 2 months of 2017. Journalize the transactions for Elburn Supply Co
New macroeconomic equilibrium output : In your answer make sure to discuss the equilibrating process of moving to the new macroeconomic equilibrium output.
Identification of funds used by a large city : This information is extracted from or based on the notes to the financial statements issued by New York City. For each item described, identify the fund.
Discuss special significance for the citizens : Describe a contemporary monument in your city or in another U.S. city and whether it holds some special significance for the citizens
How do these fit within the marketing plan coachs : How do these fit within the Marketing Plan Coach's (2012) description of situational analysis?How does the Dass& Kumar (2014) article affect your perspective.

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