User Account

All Pages

Prepare journal entries to record the transactions completed

Assignment Help Accounting Basics
Reference no: EM132674132

Problem 1: Prepare journal entries to record the following transactions completed by meskel company during the year 20X2.

September-1- Received a Birr 10,000.00, 12%, 60-day note from yasin Co. as full settlement of his open account.

October 20- sold merchandise on account to Heaven Co. for Birr 25,000.00 by receiving a 90-days, 10% note.

October 31- Received full payment from Yasin co. for note received on September 1.

December 31- Record the adjusting entry required for a accrued interest arised from

October 20 transaction. (Assume that the Accounting period ends on December-31-)

Reference no: EM132674132

Questions Cloud

What are the five steps in a dispute : What are the five steps in a dispute/ grievance process?
Prepare the adjusting entries to record estimated bad debts : Prepare the adjusting entries to record estimated bad debts expense using the percentage of receivable basis under each of the following independent assumptions
How can the workplace relations tribunal assist in dispute : How can the workplace relations tribunal assist in dispute resolution?
Review problem of global organization : KPMG LLP is a large global organization that provides audit, tax, risk, and advisory services. Especially during tax season, stress and long hours are common.
Prepare journal entries to record the transactions completed : September-1- Received a Birr 10,000.00, 12%, Prepare journal entries to record the transactions completed by meskel company during the year 20X2.
What are some of the consumer protections available : What are some of the advantages and disadvantages of choosing a federally-insured account? What are some of the consumer protections available?
Identify and rank your most important bargaining issues : Determine your own individual target point, resistance points, and starting point for the CBA. Identify and rank your most important bargaining issues.
Determine the maximum price : The company can expect to get a 9 percent return on any investment. Determine the maximum price that they can afford to pay for the machine up front?
What are the five steps in the negotiation process : What are the five steps in the negotiation process? What is an advocate?

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