User Account

All Pages

Make the entries to record the amortization

Assignment Help Accounting Basics
Reference no: EM133079390

Question - Accounting for a Non-Interest-Bearing Note - Zobell Corporation sells equipment with a book value of $8,000, receiving a non-interest-bearing note due in three years with a face amount of $10,000. There is no established market value for the equipment. The interest rate on similar obligations is estimated at 12%. Compute the gain or loss on the sale and the discount on notes receivable, and make the necessary entry to record the sale. Also, make the entries to record the amortization of the discount at the end of the first, second, and third-year using effective-interest amortization.

Reference no: EM133079390

Questions Cloud

Calculate the liability component and the equity component : The market rate of interest to be used in discounting calculations is 7%. Calculate the liability component and the equity component of this bond
Which journal entries correctly records the cost : Assuming normal spoilage is 10% of production for the premium option, which of the following journal entries correctly records the cost
Explain procedures that a company could use : Explain four procedures that a company could use to minimise risk and develop the risk management plan using the risk management plan template
Opening for housekeeping staff at local hospital : What labor markets should be considered when recruiting to fill an opening for a housekeeping staff at a local hospital?
Make the entries to record the amortization : Also, make the entries to record the amortization of the discount at the end of the first, second, and third-year using effective-interest amortization
Types of financing entities covering the cost of healthcare : List at least six types of coverage organization from single-payer to universal coverage. Contrast them from the standpoint of billing.
What account should park debit to record : Park incurred salaries and wages of $800,000 for the month of April year 1. What account should Park debit to record this $800,000
Sampling distribution of the population variance : What is the sampling distribution of the population variance and what are the properties of this distribution?
What are the funds from operations : As at December 31, 202X FFF REIT has 10,000,000 units outstanding with each unit trading at $85. What are the Funds from Operations

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