User Account

All Pages

Prepare the journal entry for the purchase of the land

Assignment Help Accounting Basics
Reference no: EM132466114

Question (a) Discuss how MacDougall Corporation would determine a value for the land in recording the purchase from Silverman Corporation.

Question (b) What is the difference between a promissory note payable and a mortgage note payable? Why would Silverman Corporation insist on obtaining a mortgage note payable from MacDougall Corporation?

Question (c) Calculate the purchase price of the land and prepare an effective-interest amortization table for the term of the mortgage note payable that is given in the exchange.

Question (d) Prepare the journal entry for the purchase of the land.

Reference no: EM132466114

Questions Cloud

How much must be deposited every three months : If the account pays 12.5% APR compounded monthly, how much must be deposited every three months?
What is avery wacc : Avery Corporation's target capital structure is 35% debt, 10% preferred, and 55% common equity. The interest rate on new debt is 6.50
How would complying with the sarbanes-oxley : How would complying with the Sarbanes-Oxley and PCAOB Auditing Standard No. 2201 change the company's responsibilities for internal control?
How much in us dollars will the mnc lose on transaction : How much in U.S. Dollars will the MNC lose on the transaction?
Prepare the journal entry for the purchase of the land : What is the difference between a promissory note payable and a mortgage note payable? Why would Silverman Corporation insist on obtaining a mortgage
What is the standard deviation of returns of the mutual fund : Using the data above; assume the correlation between stock and bond returns is 0.36 and the correlations between the bond and risk-free returns
Distinguish between data and information : Distinguish between data and information? What about between information systems and computer literacy? How was your original understanding different.
Prepare effective-interest amortization table for five years : Prepare any adjusting journal entry that is required at the end of the ?scal year and the ?rst payment made on June 1, 2015, assuming no reversing entries
Develop and Implement Business Plan Assignment : Develop a business plan to support the company's strategic and operational goals. Develop a plan for communicating the business plan to relevant parties

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