User Account

All Pages

Prepare journal entries to record mortgage loan for jernigan

Assignment Help Accounting Basics
Reference no: EM131822149

Problem

Jernigan Co. receives $199,200 when it issues a $199,200, 15%, mortgage note payable to finance the construction of a building at December 31, 2014. The terms provide for semiannual installment payments of $16,600 on June 30 and December 31.

Prepare the journal entries to record the mortgage loan and the first two installment payments.

Reference no: EM131822149

Questions Cloud

Claim that the mean is the same before and after the viewing : Ten different families are tested for the number of gallons of water a day they use before and after viewing a conservation video. At the 0.05 significance leve
Write a research problem that would be best studied : Discuss why this research problem is best studied using a probability sample, and what type of probability sample you would likely use.
Test the claim that the training helps : Using a 0.05 level of significance, test the claim that the training helps to improve the athletes' times for the 800 meters.
Level of expected sales : If expected sales are revised based on the first year’s performance, below what level of expected sales would it make sense to abandon the project?
Prepare journal entries to record mortgage loan for jernigan : Prepare the journal entries to record the mortgage loan and the first two installment payments.
Describe eliza in shaws play : This final project will require you to gather research material, analyze it, evaluate it, and bring it together to act as support for your writing.
Compute the monthly break-even point for the new product : The product would sell for $2.50 per unit. Compute the monthly break-even point for the new product in units and in total dollar sales
Find the probability of each element of the sample space : Thus rolling the die has 3 possible outcomes, r,b,g. This die is rolled twice. Denote the nine possible outcomes by RR, RB, etc.
Compute the cost per ton of crushed rock for production : Weighted-Average Process Costing at Nally & Gibson Nally & Gibson produces crushed limestone, among other products, used in highway construction.

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