User Account

All Pages

Make Ayayai journal entries for the January

Assignment Help Accounting Basics
Reference no: EM132482898

Question - Ayayai Corporation issued a 4-year, $74,000, zero-interest-bearing note to Brown Company on January 1, 2017, and received cash of $42,310. The implicit interest rate is 15%.

Required - Make Ayayai's journal entries for (a) the January 1 issuance and (b) the December 31 recognition of interest.

Reference no: EM132482898

Questions Cloud

Compute which of the two statements is correct : Compute Which of the two statements is correct? The one-year interest rates for the USD and EUR are: rUSD = 1% and rEUR = 5%.
Prepare the journal entry for Arness to record the sale : Arness estimates the fair value of the recourse liability to be $8,000. Prepare the journal entry for Arness to record the sale
Probability that the average time : Suppose 5 returns are selected at random. What is the probability that the average time taken to audit these 5 returns will be at least 24 minutes?
What is the profit from taking advantage of the mispricing : What is the profit from taking advantage of the mispricing of the spot rate (based on UIRP)? X0USD/EUR = 1.05; rUSD = 2%; rEUR = 7%
Make Ayayai journal entries for the January : The implicit interest rate is 15%. Make Ayayai's journal entries for (a) the January 1 issuance and (b) the December 31 recognition of interest
What the spot exchange rate is : Assume that the price of a bushel of corn is EUR 3.50 in the Euro Zone and USD 4.00 in the U.S. market. Currently the USD/EUR spot exchange rate is
What is the effect of recording the fair value option : Carla Company commonly issues long-term notes payable to its various lenders. What is the effect of recording the fair value option
Determine which of the two statements is correct : Assume that J.C. Inc. pays his Italian suppliers in EUR. If X0USD/EUR = 1.05 to X1USD/EUR = 1.13. Which of the following two statements is correct?
Prepare journal entry to record shipment of goods to pina : Prepare the journal entry to record the shipment of goods to Pina. The goods cost Blossom $19,570 and Blossom uses a perpetual inventory system.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is Kyle filing status

Kyle, whose wife died in December 2016, filed a joint tax return for 2016. What is Kyle's filing status in 2019? Please explain

  At the beginning of the year hernandez company had total

at the beginning of the year hernandez company had total assets of 800000. and total liabilities of 50000. if total

  On january 1 2010 valuation allowance for

on january 1 2010 valuation allowance for available-for-sale securities has a credit balance of 3400. on december 31

  How do trading securities relate to cash and cash equivalent

How do trading securities relate to cash and cash equivalents, What is an unrealized gain or loss

  Compute the total cost of the becker pool

Compute the total cost of the Becker pool as shown on the job cost sheet at date of completion

  Prepare the bank reconciliation statement as at june

Prepare the bank reconciliation statement as at June 30, 2017. To do this, you will need to use: the previous month's bank reconciliation statement

  Write a paper about the american company apple

Write a paper about the American company APPLE and Discuss its comapny revenue and what are the impact in market. elaborate in details

  Dewayne is a us citizen and resident he spends much of each

brown corporation had consistently reported its income by the cash method. the corporation should have used the accrual

  What is the net operating loss

What is the Net Operating loss? Break even point in units? Break even point in dollar sale? what selling price per unit would the company generate this profit

  Evaluating a manager performance

A static budget is appropriate in evaluating a manager's performance if:

  A company must decide between scrapping or reworking units

a company must decide between scrapping or reworking units that do not pass inspection. the company has 15000 defective

  Before proceeding check the hint given at the end of the

the board of education for the central catskill school district is considering the acquisition of several minibuses for

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