User Account

All Pages

Straight-line amortization of the discount

Assignment Help Accounting Basics
Reference no: EM13682707

On August 31, Latty Co. partially refunded $450,000 of its outstanding 10% note payable made one year ago to Dugan State Bank by paying $450,000 plus $45,000 interest, having obtained the $495,000 by using $131,000 cash and signing a new one-year $400,000 note discounted at 9% by the bank.

Make the entry to record the partial refunding. Assume Latty Co. makes reversing entries when appropriate.
Prepare the adjusting entry at December 3, assuming straight-line amortization of the discount.

Reference no: EM13682707

Questions Cloud

Determine the mass of the second asteroid : You are working on a project to determine the density of asteroids in order to figure out what minerals they might contain for mining. You figure out the volume fairly easily from images of the asteroids taken from various angles. Determine the ma..
Elevator-scale reading : Elevator-Scale Reading-What will the scale read if the elevator moves in free fall? (in kg) What will the scale read if the elevator moves with downward acceleration 0.340g?
Develop a simple web server in two steps : Develop a simple Web server in two steps. In the end, you will have built a Web server that is capable of processing simple web requests such as an HTML page with embedded images -
Obtain the current and the voltage drop in the resistor : The frequency for an AC source in an RLC circuit is 5 x 102 rad/s and its half of the resonance frequency. Obtain the current and the voltage drop in the resistor
Straight-line amortization of the discount : Straight-line amortization of the discount.
Passes over frictionless pulley connects two blocks : A mass less rope that passes over a frictionless pulley connects two blocks. The mass of the block on the left is 10kg, and it rests on a plane making an angle of 40 degrees with respect to the horizontal. The block on the right rests on a plane maki..
Evaluate the mutual inductance of these solenoids : One solenoid is centered inside another. The outer one has a length of 47 centimeter and contains 6800 coils, Evaluate the mutual inductance of these solenoids
Why are lifo and fifo so popular : Why are LIFO and FIFO so popular?
Compute the tension in the cable-mass is stationary : A crane uses a cable to lift and lower an 845 kg mass. Compute the tension in the cable under the following conditions: As it is being lifted, the speed of the mass increases by 2.5 m/s each second. The mass is lifted at a speed of 15 m/s.

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