What entry would lombard make to record the sale

Assignment Help Financial Management
Reference no: EM131860240

On January 1, 2017, Lombard Co. sells property for which it had paid $690,000 to Sargent Company, receiving in return Sargent’s zero-interest-bearing note for $1,000,000 payable in 5 years. What entry would Lombard make to record the sale, assuming that Lombard frequently sells similar items of property for a cash sales price of $640,000?

Reference no: EM131860240

Questions Cloud

Describe relevant to issues related to health care entities : Create the agenda topics with 250-word descriptions relevant to issues related to health care entities.
Value of the land should be recognized as income or not : Explain in detail whether the fair value of the land should be recognized as income or not?
Temporary hiccup toward globalization : Is this just a temporary hiccup toward globalization of trade and free markets?
How can the transparency of price and quality change : How can the transparency of price, quality, and safety change the way a consumer selects health care choices?
What entry would lombard make to record the sale : What entry would Lombard make to record the sale, assuming that Lombard frequently sells similar items of property for a cash sales price of $640,000?
What is the current labor participation rate : Labor force is 62 million people. Unemployment rate is 8%. Assume that the current GDP is $250 billion. CPI level is 122. Answer the following:
Calculate the required tax rate-expressed in mils : Calculate the required tax rate, expressed in mils. What is the resident’s required tax payment prior to allowable discounts for early payment?
Calculate its line integral along each of the curve : For a vector field V? = (2xy - z2, x2 + 4yz, 2y2 - 2xz) calculate its line integral along each of the following curves: Straight line segment
Find the coupon rate : Large Industries annual bonds are selling at 94.20. Find the coupon rate. (Note: you may have to use a trial and error solution method)

Reviews

Write a Review

Financial Management Questions & Answers

  Coupon bonds with semiannual payments and yield to maturity

Oil Wells offers 6.5 percent coupon bonds with semiannual payments and a yield to maturity of 6.94 percent. The bonds mature in seven years. What is the market price per bond if the face value is $1,000?

  How much loss would company recognize on income statement

Randy's tireland makes a product that sells for $63 per unit and has $47 per unit in variable costs. Annual fixed costs are $24,000. If Rambles sells 10 units less than breakeven, how much loss would the company recognize on its income statement?

  Calculate the annual eva in typical year

A project cost ?$2.0 million up front and will generate cash flows in perpetuity of ?$270,000. Calculate the annual EVA in a typical year.

  Decide between two different conveyor belt systems

Lang Industrial Systems Company (LISC) is trying to decide between two different conveyor belt systems. System A costs $244,000, has a four-year life, and requires $76,000 in pretax annual operating costs. Calculate the NPV for both conveyor belt sys..

  Find your net profit-loss from your hedged portfolio

Consider a stock paying continuous dividends of 1%. Assume r = 0.06, σ = 0.32 and today’s stock price of S0 = 33. You sell 100 Calls with strike K = 35 and expiration in 68 days (assume 365 days in a year). You also construct a delta-hedge to manage ..

  Calculated based on an apr of compounded monthly

You are considering buying a house for $200,000. You have $40,000 in your bank account which pays 1% APR compounded monthly. If you contribute 10% of the price of the house as a down payment, the terms of your mortgage will be an original balance of ..

  What was return on investment in percent

Ashley invested $4,500 in the stock of target. She received $226.00 in dividends from stock and sold it one year later for $4,100. What was Asley's return on investment in percent?

  Discuss violation of the efficient market hypothesis

Discuss a violation of the Efficient Market Hypothesis and identify which level of efficiency (weak, semi-strong, or strong) would be violated and why. In your discussion, also indicate whether this situation presents an abnormal return opportunity a..

  Assume that the expected returns of stock

Given the returns and probabilities for the three possible states listed here, calculate the covariance between the returns of Stock A and Stock B. For convenience, assume that the expected returns of Stock A and Stock B are 0.09 and 0.18, respective..

  Low-volatility project is undertaken-high-volatility project

What is the expected value of the company if the low-volatility project is undertaken? The high-volatility project?

  Defined benefit pension plan for its employees

ABC Corporation provides a defined benefit pension plan for its employees. including recording of pension expense and employer's contribution to pension plan.

  European put on the futures with a strike price

A futures price is currently 55, its volatility is 20% per annum, and the risk-free rate is 6% per annum. What is the value of a 5-month European put on the futures with a strike price of 65?

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd