Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
On January 1, 2017, Boerne Custom Machines borrowed $500,000 (face value) from a major customer, through a zero-interest-bearing note due on January 1, 2020. Because the note was zero-interest-bearing, Boerne Custom Machines agreed to machines to this customer at lower than market price over the term of the loan. Sales to the major customer are expected to occur equally over the 3 year period. The rate of interest is normally charged on this type of loan is 10%. Required:
a. Prepare the entry to record the initial issuance of the note and related arrangements.
b. Prepare the journal entries at December 31 to recognize interest expense and sales revenue at the end of 2017 assuming that the customer purchases merchandise evenly over the 3 year period of the loan.
Please show ALL work for calculations.
What is the discount rate you used in your work? Could the yearly FNC dividends be computed as an annuity? What is the total pv of the four yearly dividends?
sally is a 16-year-old dependent of her parents. during 2013 sally earned 1800 working part time jobs and she received
mcfriendly software recently developed new spreadsheet software easy-calc which it intends to market by mail through
oslo compnay prepared the following contribution income statement based on a sales volume of 100 units the relevant
Sedona Company set the following standard costs for one unit of its product for 2015. Compute the total variable and total fixed overhead variances
Calculate Marilyn's adjusted basis (outside basis) for her partnership interest at year-end
Edison Company manufactures wool blankets and accounts for production costs using process costing. The following information is available regarding its May inventories.
What GAAP principles govern the consolidation of financial statements - How are consolidated and equity methods of accounting different?
Hernandez Company began 2010 with a $120,000 balance in retained earnings. During the year, the following events occurred:
Inventory $30,000; Allowance for Doubtful Accounts $4,000; Equity Investments (trading) $11,000. Prepare the current assets section of the balance sheet, listing the accounts in proper sequence.
Prepare a 2 page newsletter that identifies and summarises changes / developments and news in the financial reporting environment
jessich inc management estimates that 39 of credit sales will be collected in the month of sale with a 2 prompt payment
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd