On october 1 2012 a company issued a 5 month note

Assignment Help Accounting Basics

Reference no: EM13566275

'On October 1, 2012. a company issued a 5 month note receivable to morearms inc at an annual interest rate of 16%. principle and interest will be paid at the end of the 5 months. the note was recorded in notes receivable and is the only note outstanding.'

What would be the adjusting entry for that? The note recevable was a debit for 5000 in the unadjusted trial balance.

Reference no: EM13566275

Questions Cloud

When are multiple rates of return likely to occur in an : when are multiple rates of return likely to occur in an internal rate of return computation? what should be done when a

Pattillo industries makes a product that sells for 25 a : pattillo industries makes a product that sells for 25 a unit. the product has a 5 per unit variable cost and total

Describe the relationships among accounts payable : describe the relationships among accounts payable inventories accounts receivable and the cash account by tracing the

What is the rationale behind the npv method according to : what is the rationale behind the npv method? according to npv which projects should be accepted if they are

On october 1 2012 a company issued a 5 month note : on october 1 2012. a company issued a 5 month note receivable to morearms inc at an annual interest rate of 16.

Over the last two years barton company had net income as : over the last two years barton company had net income as follows 2009 80000 net income 2010- 100000 net income what was

What is the underlying cause of ranking conflicts between : what is the underlying cause of ranking conflicts between npv and

Underwriters of a new issue of preferred stock would : def companys preferred stock is currently selling for 28.00 and pays a perpetual annual dividend of 2.00 per share.

What is the reinvestment rate assumption and how does it : what is the reinvestment rate assumption and how does it affect the npv versus irr

Reviews

Write a Review

Required(*) Message

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

User Account

All Pages