User Account

All Pages

What amount should the discount on notes payable

Assignment Help Financial Accounting
Reference no: EM131876291

On January 1, 2011, London Corporation borrowed $500,000 on a 8%, noninterest bearing note due in four years. The present value of the note on January 1, 2011, was $367,500. London Corporation elects the fair value method for reporting its financial liabilities. On December 31, 2011, it is determined the fair value of the note is $408,150. At what amount should the discount on notes payable be presented on the balance sheet on December 31, 2011?

Reference no: EM131876291

Questions Cloud

Write a script that monitors the creation of pdf files : Write a script that monitors the creation of .pdf or .PDF files in the current directory. Every minute it should display a list of those filenames created.
Write script that behaves in interactive mode : Write script that behaves in both interactive and noninteractive mode. When no argument are supply, it picks up each C program from current directory directory.
What amount of income from this loan should money report : On December 1, 2010, Money Co. gave Home Co. a $200,000, What amount of income from this loan should Money report in its 2010 income statement?
Write a script that does not permit some user to log in : Write a script that doesn't permit some users to log in more than once. It looks up a configuration file that contains a list of those users, one user per line.
What amount should the discount on notes payable : At what amount should the discount on notes payable be presented on the balance sheet on December 31, 2011?
What will be tricky about proving the case : Two boys, celebrating a birthday, go to a restaurant. Drinking apple juice, they become very ill and are hospitalized. They have serious burns on their lips.
What amount should connor present the note on the december : The present value factors at 10% and 9% are presented At what amount should Connor present the note on the December 31, 2011 balance sheet?
Write a script that looks in the entire file system : Write a script that looks in the entire file system to locate a filename supplied as argument. If the file is found script should display its absolute pathname.
Prepare an analysis of all manufacturing overhead variances : Straightforward coverage of manufacturing overhead, standard-costing system. Prepare an analysis of all manufacturing overhead variances

Reviews

Write a Review

Financial Accounting Questions & Answers

  Information regarding allowance for uncollectible accounts

Floppy Corp. has the following information regarding its allowance for uncollectible accounts. Allowance for Uncollectible Accounts & provision for Uncollectible Accounts for the 2014 & 2015: Balance December 31, 2014 $31,000 Write-offs during 2015 (..

  Dollar amount of sales must be made to produce target income

Watson Company has monthly fixed costs of $79,000 and a 40% contribution margin ratio. If the company has set a target monthly income of $14,600, what dollar amount of sales must be made to produce the target income?

  Make the necessary adjusted journal entries

Create the Journal for the transactions and Post these to the T-accounts and create the Unadjusted trial balance, Make the necessary Adjusted journal entries.

  Companys annual report for its 2008 fiscal yearthen answer

companys annual report for its 2008 fiscal year.then answer the following questionsexplain and evaluate the companys

  What is difference between accrual earnings and cash earning

What is the difference between accrual earnings and cash earnings? In addition to the effect on accrual earnings of capitalizing the line costs, how might the treatment mask the true nature of operating cash flows?

  Find out the tax consequences to melinda

No other owners redeem any of their ownership interest. Find out the tax consequences to Melinda if the entity is a partnership, an S corporation or C corporation.

  Differences between equity and debt financing

Explain the major differences between equity and debt financing, and discuss the primary ways in which each would affect the future of the partners' business.

  Identification of key qualitative factorsrelevant costs

identification of key qualitative factors.relevant costs special sales order-idle versus full capacity hull motors inc.

  How should these intra-entity bonds be accounted

The acquisition was made from an outside party. In the current year, how should these intra-entity bonds be accounted for within the consolidation process?

  Prepare the journal entries to record the interest received

On January 1, 2013, Hi and Lois Company purchased 13% bonds, having a maturity value of $547,500, for $609,763.18. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2013, and mature January 1, 2018, with interest receivabl..

  What was the balance in work in process inventory on january

What was the balance in Work in Process Inventory on January 1 if this was the only unfinished job? Balance in Work in Process Inventory on January 1.

  Part-1exercise 1issuance of stock prepare journal entries

part-1exercise 1issuance of stock prepare journal entries to record the issuance of 100000 shares of common stock at 20

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