Sabonis cosmetics co, Sabonis Cosmetics Co. purchased

Sabonis cosmetics co

Assignment Help Financial Accounting

Reference no: EM13953082

Sabonis Cosmetics Co. purchased machinery on December 31, 2013, paying $53,900 down and agreeing to pay the balance in four equal installments of $54,280 payable each December 31. An assumed interest of 10% is implicit in the purchase price.

Prepare the journal entries that would be recorded for the purchase and for (1) the payments and (2) interest on the following dates.

(Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

(a)		December 31, 2013.
(b)		December 31, 2014.
(c)		December 31, 2015.
(d)		December 31, 2016.
(e)		December 31, 2017.

No.	Account Titles and Explanation	Debit	Credit
(a)



(b) (1)

(b) (2)

(c) (1)

(c) (2)

(d) (1)

(d) (2)

(e) (1)

(e) (2)

Reference no: EM13953082

Questions Cloud

What the idea of conversions : What the idea of conversions, what is the answer to the reactants of NaCl + KBr?

What is the weight percent of a caffeine solution : What is the weight percent of a caffeine solution made by dissolving 8.35 g of caffeine, C8H10N4O2, in 75 g of benzene, C6H6?

Round the working capital amount : Round all other final answers to one decimal place

Titrated with dichromate : All of the iron in 1.734 g of an iron sample is converted into Fe2+, which was then titrated with dichromate:

Sabonis cosmetics co : Sabonis Cosmetics Co. purchased machinery on December 31, 2013, paying $53,900 down and agreeing to pay the balance in four equal installments of $54,280 payable each December 31

Davis''s request attorney leigh ansell prepared : Davis's request, attorney Leigh Ansell prepared, and Davis acknowledged, a durable power of attorney appointing Ansell to act as Davis's attorney-in-fact. Ansell was authorized to sign "any . . . instrument of . . . deposit" and "any contract . . . r..

Samuel hitman sold his mercedes-benz : Samuel Hitman sold his Mercedes-Benz to Katrina Walters in exchange for a check for $13,500 made out to Walters and indorsed to him. He gave her the title to the vehicle indorsed over to her. Walters transferred ownership of the vehicle, together wit..

Describe the product life cycle concept : In 400 words describe the Product Life Cycle Concept and the elements involved. Include the relative amounts of sales and profit during each separate stage. Cite at least one reference using APA format in both the answer and reference page.

Conduct research on a well-known leader of a corporation : Using your favorite search engine, conduct research on a well-known leader of a corporation. You might be interested in researching formers leaders such as Lee Iacocca of Chrysler, Herb Kelleher of Southwest Airlines, Jack Welch of General Electric,..

User Account

All Pages