User Account

All Pages

Prepare the journal entry to record this transaction

Assignment Help Accounting Basics
Reference no: EM132215616

Question - Auto Loan South makes a $52,000, 180-day, 4% cash loan to Smith's Auto Shop.

Required:

(1) Prepare the journal entry to record this transaction.

(2) What is the amount of interest that Auto Loan South will collect on the loan?

Reference no: EM132215616

Questions Cloud

Basic cultural perceptions are embodied in language : Basic cultural perceptions are embodied in language, interpersonal space, communication, time orientation, religion, and law and political stability.
Create an argument to be presented to the cio : Create an argument to be presented to the CIO the need to integrate all clinical and administrative departments using a Health Information Management System.
What is the going concern assumption : Question - What is the 'going concern assumption'? Can you explain its impact on the preparation of the financial report
Determine what you think would be a common complaint : According to the material in Chapter 9, most employee complaints related to performance evaluations are based on alleged violations of employment law.
Prepare the journal entry to record this transaction : Auto Loan South makes a $52,000, 180-day, 4% cash loan to Smith's Auto Shop. Prepare the journal entry to record this transaction
What are the three important developments of globalization : What are the three important developments of globalization that will probably affect an organization?
Discuss types of management errors were committed : From the case study "Didn't Cut It? Hire Another", state your analysis of the following and justify your response: The types of management errors were committed
What is the proper journal entry and adjustment entry : The company issues a 5-year bond with a face value of $100,000. What is the proper journal entry and adjustment entry for the below problem
Describe meeting between departing employees-representatives : Which of the following best describes a meeting between a departing employees and representatives of a company?

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