Krum marina sells a 42 foot exploratory submersible on

Reference no: EM13587850

Krum Marina sells a 42 foot exploratory submersible on October 1, 2013 and receives a $790,822 non-interest bearing note due in five years. Krum's cost cost of borrowing money is 4%. Krum's fiscal year-end is September 30.

a. How much revenue should Krum record on October 1, 2013?

b. Show the balance sheet presentation for the note receivable at September 30, 2014 and September 30, 2015.

c. How much interest income, related to the notes receivable, should Krum report for the years ending September 30, 2014 and 2015?
Image text transcribed for accessibility Krum Marina sells a 42 foot exploratory submersible on October 1, 2013 and receives a $790,822 non-interest bearing note due in five years. Krum's cost cost of borrowing money is 4%. Krum's fiscal year-end is September 30. How much revenue should Krum record on October 1, 2013? Show the balance sheet presentation for the note receivable at September 30, 2014 and September 30, 2015. How much interest income, related to the notes receivable, should Krum report for the years ending September 30, 2014 and 2015?

Reference no: EM13587850

Questions Cloud

Describe the following with examples where necessary : 1. describe regulatory strategies and tactics to air quality control.2. describe the following with examples where

What is the appropriate treatment in an interim financial : what is the appropriate treatment in an interim financial report for variances arising from the use of a standard

Comment on the adequacy of net cash provided by operating : presented below are selected financial statement items for preacher corporation for december 31 2014. inventory

What molarity of aqueous sodium chloride solution can be : question what molarity of aqueous sodium chloride solution can be expected to show the same conductivity as 0.0050 m

Krum marina sells a 42 foot exploratory submersible on : krum marina sells a 42 foot exploratory submersible on october 1 2013 and receives a 790822 non-interest

Briefly explain the disposal of collected material from : 1. describe regulatory strategies and tactics to air quality control.2. describe the following with examples where

The controller peggy kingman is concerned about the : shady lady sells window coverings shades blinds and awnings to both commercial and residential customers. the following

Question if one starts with pure no2g at a pressure of 0500 : question if one starts with pure no2g at a pressure of 0.500 atm the total pressure inside the reaction vessel when

The specific heat of liquid bromine is 0226 jg-k how much : the specific heat of liquid bromine is 0.226 jg-k. how much heat j is required to raise the temperature of 10.0 ml of

User Account

All Pages