User Account

All Pages

Prepare an amortization table for the five-year notes

Assignment Help Financial Accounting
Reference no: EM133027744

Question - On January 1, 2020, Yankees Corp. grants a loan to Orioles Company and receives a $100,000, five-year note, bearing interest at 4% with interest payable semi-annually. The market rate for similar loans with similar credit risks is 6%.

Required -

From the Yankees' perspective, calculate the present value of this loan. Please round your answer to the nearest dollar.

Prepare the journal entry to record this transaction.

With proper format and headings, prepare an amortization table for the above-mentioned five-year notes from the inception day to June 30, 2021.

Reference no: EM133027744

Questions Cloud

Are there additional licenses or certifications you may need : Are there additional licenses or certifications you may need? How can you make sure you are following all of the necessary rules
How much will bill need to save for one-years tuition : He will graduate from high school in five years. Roughly how much will Bill need to save for one-year's tuition to account for an annual rate of inflation of 3%
Explain the term off balance sheet financing : Question - Explain the term "off balance sheet financing" and why it is considered to be problematic. Provide a clear example of how this might occur
Prepare any necessary journal entries : For each date, prepare any necessary journal entries, if required. The market price on the date of declaration was $30 per share
Prepare an amortization table for the five-year notes : With proper format and headings, prepare an amortization table for the above-mentioned five-year notes from the inception day to June 30, 2021
How much will you have in seven years : An investment pays 12% per year and you find it a good investment opportunity. So, you invest $400. How much will you have in seven years
How many units were sold : An inventory at the end of December shows that 240 mufflers remain. How many units were sold? (Assuming no goods stolen or damaged)
Compare companies that offer similar computers : Compare based upon your chosen factors of comparison with the intent of purchasing 10 computers from that company.
What price do you need : If you want to earn a 10.6% return on your? investment, what price do you need if you expect to sell the share immediately after it pays the? dividend

Reviews

Write a Review

Financial Accounting Questions & Answers

  What does Bill believe the inflation rate

Bill Bernanke thinks the total real return on this investment will be only 3.0 percent. What does Bill believe the inflation rate will be over the next year

  Solve the extra period added to the term of the loan

Solve the extra period added to the term of the loan. Calculate the new monthly repayment if Scott pays off the loan by the originally agreed date.

  What is the future value of the gic

Kristen deposits $1,000 into a GIC paying 4% per annum. What is the future value of the GIC if it is left untouched for 5 years

  Determine which call outstanding callable bonds choose

Determine Which of the events would make it more likely that a company would choose to call its outstanding callable bonds? explain

  What is the approximate amount of life insurance needed

Assuming an annual investment return of 5% and an average tax rate of 30%, what is the approximate amount of life insurance needed?

  Prepare a classified balance sheet with a proper heading

Prepare a classified balance sheet with a proper heading on a spreadsheet. For assets, use the classifications of current assets, plant and equipment, intangibles, and other assets.

  Determine goodwill on bargain purchase at acquisition

Thor Ltd acquired its 80% interest in Loki Ltd, Show acquisition analysis at 30 June 2019, to determine goodwill or gain on bargain purchase at acquisition.

  Create journal entry on to record pension expense

Prepare journal entry on 12/31/2018 to record pension expense for 2018.On January 1st, 2018 United Company provides the information.

  The final trial balance called post-closing-true or false

A reversing entry is a journal entry which is the exact opposite of a related adjusting entry made at the end of the period- True or false

  Question 1 you are a graduate accountant employed by murray

question 1 you are a graduate accountant employed by murray certified practising accountants. one of your clients sandy

  Prepare a chart showing how four different inventory methods

Prepare a chart showing how the four different inventory methods would affect the cost of goods sold. Explain the four merchandise inventory methods

  Utilize three methods to internally account for investment

CCES Corporation acquires a controlling interest in Schmaling, Inc. CCES may utilize three methods to internally account for this investment. Class, what are these methods? Could you discuss their advantages and disadvantages?

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