User Account

All Pages

Prepare the journal entries to record the mortgage loan

Assignment Help Accounting Basics
Reference no: EM13532085

Kitov Co. receives $280,000 when it issues a $280,000, 6%, mortgage note payable to finance the construction of a building at December 31, 2012. The terms provide for semiannual installment payments of $14,285 on June 30 and December 31.

Instructions

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

Reference no: EM13532085

Questions Cloud

Identify a microeconomic theory of interest to you : Identify a microeconomic theory of interest to you.
Explain the empirical formula of the organic compound : Carbon-Hydrogen compound is burned in an excess of oxygen to give 1.76g of CO2 and .9g of H20 as the products of combustion. What is the empirical formula of the organic compound. How many grams of the organic compound was burned.
Largest number of different offspring genotypes : What is the largest number of different offspring genotypes that could possibly result if you crossedtwo parents of the same genotyp
Determine the vertical distance the electron is deflected : An electron with a speed of 1.6 × 107 m/s moves horizontally into a region where a constant vertical force of 5.0 × 10-16 N acts on it. Determine the vertical distance the electron is deflected
Prepare the journal entries to record the mortgage loan : Prepare the journal entries to record the mortgage loan and the first two installment payments.
The domestic supply curve of the good : 3. A small country can import a good at a world price of 10 per unit. The domestic supply curve of the good is S = 20 + 10P , D = 400 - 5P.
Define element mol-% to determine the cation si:fe ratio : According to XRF my sample has 41 wt-% of SiO2 and 59 wt-% of Fe2O3. How do I convert the oxide wt-% to element mol-% to determine the cation Si:Fe ratio
What should be reported under long-term liabilities : What amounts should be reported under current liabilities related to the note on December 31, 2012 and what should be reported under long-term liabilities?
Explain oxygen to form how many grams of water vapor : In the explosion of a hydrogen-filled balloon, .5 grams of hydrogen reacted with 4.0 grams of oxygen to form how many grams of water vapor. (Water vapor is the only product.)

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