User Account

All Pages

Provide the journal entry on Nov

Assignment Help Accounting Basics
Reference no: EM132920923

Question - On Nov. 24, 20x1, Resume Co. borrowed a P750,000, 45-day loan from a bank and pledged Its receivables as collateral security. Resume Co. received the loan proceeds after deduction of P27,000 advance interest. Provide the journal entry on Nov. 24, 20x1.

Reference no: EM132920923

Questions Cloud

What is the expected return on Harbin stock : Harbin Manufacturing has 10 million shares outstanding with a current share price of $22.82 per share. What is the expected return on Harbin stock
Cycle of insurance premium collection by bank : What is the cycle of insurance premium collection by bank? Where does the bank invest the insurance premium money?
What is the time saved by this employee : The standard allowance is 20 units of 'R' per hour. What is the time saved by this employee in Week 6 on 'R' production
Calculate the irr of the project using the trial method : A project requiring $45.5 million initial investments, Calculate IRR of project using the trial and error method and show if the project is acceptable or not.
Provide the journal entry on Nov : Resume Co. received the loan proceeds after deduction of P27,000 advance interest. Provide the journal entry on Nov. 24, 20x1
How can someone with inside information disrupt efficient : How can someone with inside information disrupt efficient markets? What measures can/should be taken to stop these disruptions?
What is the ethical issue involved in this case : What, if any, is the ethical issue involved in this case? Who might be affected by the decision against early implementation
What should be stock price today given that opm has expected : OPM corporation has just paid $0.50 dividend on its common stocks. Given that OPM has an expected return of 10%, what should be its stock price today?
Describe company on global scale : Describe any business/operating units that exist and examine what they do in the overall company business.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Negatively and positively affect the environment

how human behavior can negatively and positively affect the environmentPrepare a 1,150- to 1,400-word paper in which you explore how human behavior can negatively and positively affect the environment. As a part of your paper be sure to address th..

  Orton capital balance after admitting ramsey

Benson and Orton are partners who share income in the ratio of 2:3 and have capital balances of $30,000 and $50,000 respectively. Ramsey is admitted to the partnership and is given a 10% interest by investing $20,000. What is Orton's capital balan..

  Prepare journal entries for the following events

Sweet Shop Co. is a chain of candy stores that has been in operation for the past ten years. Prepare journal entries for the following events, which occurred at the end of the most recent year. If the event is not a transaction, write no transaction...

  Determine the maturity value of the note

Westrac Ltd. received a 90 days, 12% note for $50,000, dated Sept 22, 2016 from a customer, A. Determine the maturity value of the note

  Prepare the journal entry to record any adjusting entries

Prepare the journal entry to record any adjusting entries needed on December 31, 2020. Assume that the sales of Ayayai's product to this customer occur

  Describe on the emerging technologies in auditing profession

Explain on the emerging technologies in auditing profession and identify how it would benefit the audit profession. Also discuss the challenges faced

  Stock and fair market value problem

Sidney exchanged property with an adjusted basis of 25,000 and a fair market value of 33,000 for 330 shares of stock. Edgar performed services valued at 33,000 for 330 shares of stock. The fair market value of Parody Corp's stock is 100 per share...

  What is the NPV of the investment opportunity

If you invest $15,000 today, What is the NPV of the investment opportunity if the interest rate is 10% per year? Should you take the opportunity

  Prepare schedule to compute the ending inventory

Prepare schedule to compute the ending inventory at March 31, 2017, under FIFO inventory method

  Journalize the april transactions that should be recorded

Journalize the April transactions that should be recorded in the cash disbursements journal assuming that the periodic inventory system is used

  What amounts are included in ralph gross income the year

What amounts are included in Ralph's gross income this year if a tenant signs lease 1 on December 1 and makes timely payments under that lease

  What is the journal entry to record the sale of the shares

Penne Pharmaceuticals sold 8 million shares of its $1 par common stock to provide funds for research and development. If the issue price is $12 per share, what is the journal entry to record the sale of the shares?

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