User Account

All Pages

Prepare the journal entries for eagle

Assignment Help Accounting Basics
Reference no: EM13901174

Use the information in Exercise 14-14 to prepare the journal entries for Eagle to record the loan on January 1, 2013, and the four payments from December 31, 2013, through December 31, 2016.
In Exercise 14-14, On January 1, 2013, Eagle borrows $ 100,000 cash by signing a four year, 7% installment note. The note requires four equal total payments of accrued interest and principal on December 31 of each year from 2013 through 2016. 

1. Compute the amount of each of the four equal total payments. 

2. Prepare an amortization table for this installment note like the one in Exhibit 14.14. 

1132_267-B-A-L (3020).png

Reference no: EM13901174

Questions Cloud

Pounds of nitrogen into its river : Golden Olives is a 7000 watershed. The problem is that Golden Olives discharges an excess of 1000 more pounds of nitrogen into its river than it can handle, with serious eutrophication which adversely affects fishing and swimming.
Use the straight line method of interest amortization : Duval Co. issues four year bonds with a $ 100,000 par value on June 1, 2013, at a price of $ 95,948. The annual contract rate is 7%, and interest is paid semiannually on November 30 and May 31.
Compute the amount of each of the four equal total payments : The note requires four equal total payments of accrued interest and principal on December 31 of each year from 2013 through 2016.
Draw a graph that shows the progress of the race : Tortoise leaves the starting line, "sprints" at the rate of 4 meters per minute, and runs a steady race. Hare leaves the starting line running at a rate of 20 meters per minute and runs steadily for 2 minutes. Draw a graph that shows the progress ..
Prepare the journal entries for eagle : Use the information in Exercise 14-14 to prepare the journal entries for Eagle to record the loan on January 1, 2013, and the four payments from December 31, 2013, through December 31, 2016.
Prepare a cost of goods sold statement for skilz-accountants : Using the above information, prepare a cost of goods manufactured statement. Using the above information, prepare a cost of goods sold statement.
Prepare a cost of goods sold statement for last year : Prepare a cost of goods sold statement for last year. Prepare an income statement for last year. Show the percentage of sales that each line item represents.
What is the prime cost per unit and conversion cost per unit : Of the unit manufacturing cost calculated in Requirement 2, $3.20 is direct materials and $9.80 is overhead. What is the prime cost per unit? Conversion cost per unit?
Which costs in the value chain would be considered : Which costs in the value chain would be considered by each of the following managers in their decision regarding Glaxane?

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