User Account

All Pages

Prepare the journal entry to record the purchase

Assignment Help Accounting Basics
Reference no: EM132251688

Question - Splish Brothers, Inc. purchased two trucks by issuing a $134,400, 6-year, zero-interest-bearing note to GEC Funding Inc. The market rate of interest for obligations of this nature is 8%.

Prepare the journal entry to record the purchase of the two trucks.

Reference no: EM132251688

Questions Cloud

Comment on grammers and sentences structure : Awarding this scholarship will allow me to work fewer hours, focus on study and more hours of involvement in the campus activities.
Discuss comprehensive subject knowledge and understanding : Effective oral communication is essential in the business setting, especially when it comes to achieving buy-in for significant, complex, or costly change.
Explain the concept of resource management : ENV2201 Land Studies - University of Southern Queensland - explain the concept of resource management. The target audience is a group of Year
Practice for instructional purposes : Identify and describe five sources of data that a teacher could use to inform their practice for instructional purposes.
Prepare the journal entry to record the purchase : Splish Brothers, Inc. purchased two trucks by issuing a $134,400, Prepare the journal entry to record the purchase of the two trucks
Explain the importance of increased nursing collaboration : Refute this statement by providing specific examples from your current nursing practice. Describe the importance of increased nursing collaboration with other.
Determine the dollar amount of dividends : Alpha Corporation has outstanding 1,000 shares of $100 par value, determine for 2016 dollar amount of dividends that will be distributed to Preferred Stock
Direction of checking for understanding worthy of teachers : Is the direction of checking for understanding worthy of teachers' time?
Explain how you overcame the given challenges : Task 1: Professional Portfolio Discuss challenges you encountered during the progression of your program. Explain how you overcame these challenges.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine amount debited to accounts receivable

Merchandise is sold on account to a customer for $21,900, terms FOB shipping point, 2/10, n/30. Determine Amount debited to Accounts Receivable

  What amount of sales revenue would millipede recognize

The applicable effective interest rate is 7%. What amount of sales revenue would Millipede recognize on April 19, 2016, for the Hartwood transaction

  Determine the correct amount of ending inventory at december

The company had goods costing $8,000 on consignment with a customer, Determine the correct amount of ending inventory at December 31, 2011

  Provide an example of an efficiency ratio

Provide an example of an efficiency ratio and what it is used for?

  What would be the debit in this journal entry

Assuming 10% approximates the market rate of return, what would be the debit in this journal entry to record the sale

  Calculate the following ratios for the company

Calculate the following ratios for the company, Explain whether the company is doing better or worse than the industry average for each ratio

  Interest income on the sale of bond

Daniel purchased a bond on July 1, 2010, at par of $10,000 plus accrued interest of $400. On December 31, 2010, Daniel collected the $800 interest for the year. On January 1, 2011, Daniel sold the bond for $10,200.

  Compute the earnings per share of common stock

Ziegler Corporation reports net income of $225,000 and Compute the earnings per share of common stock

  Dilly llc wants to make a profit of 30000 it has variable

dilly llc wants to make a profit of 30000. it has variable costs of 99 per unit and fixed costs of 20000. how much must

  What is the impact of each cost-flow

Discuss in detail how to determine the various items that should be included in the ending inventory. What is the impact of each cost-flow

  Assumptions that underlie dvp analysis

What are the four (4) assumptions that underlie DVP analysis?

  Determine the materials price and quantity variances for

one of the products of hearts amp flowers is a one-pound boxof chocolate candy packaged in a box bearing the

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