User Account

All Pages

What is the balance in their long-term debt account

Assignment Help Financial Accounting
Reference no: EM132973478

Problem 1: On December 31, 2018, Blais Industries had long-term debt totaling $120,000 on their balance sheet. During 2019, they paid $10,000 in interest on that debt and $50,000 in principal. During the year they also issued new long-term debt totaling $20,000. What is the balance in their long-term debt account at the end of 2019?

Reference no: EM132973478

Questions Cloud

How much is the interest expense for the year ended : EYE Company's accounting year ends on December 31. How much is the interest expense for the year ended December 31, 2020
Prepare the consolidation worksheet entries : Kombie Ltd is using a partial good will method. Calculate the goodwill and prepare the consolidation worksheet entries at 30 June 2020 for Kombie Ltd group
How much was collected on account during period for bravo co : Bravo Company had a beginning Accounts Receivable account balance of $400. How much was collected on account during the period?
How many pounds does the British investor expect to receive : The annual interest rate in dollar deposit is 5%. How many pounds does the British investor expect to receive at the maturity date of his U.S. investment
What is the balance in their long-term debt account : During the year they also issued new long-term debt totaling $20,000. What is the balance in their long-term debt account at the end of 2019?
Main key aspects of skilled labour supply in australia : What are the four (4) main key aspects of the skilled labour supply in Australia
Create the carrying amount of the note for year ended dec : Create the carrying amount of the note for the year ended December 31, 2020. Una Co. acquired inventory with a list price of 800,000.
What is the amount of wendy tuition deduction : Wendy is a single taxpayer and pays tuition of $7,800 in 2020. Her 2020 AGI is $66,000. What is the amount of Wendy's tuition deduction?
Advantages of regional economic integration : 1. What are three advantages of regional economic integration 2. What is the International Trade Theory?

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the amount of stockholders equity

A company's balance sheet shows: cash $48,000, accounts receivable $29,000, office equipment $63,000, and accounts payable $30,000. What is the amount of stockholders' equity?

  Explain accounting treatment for modification of loan

Explain accounting treatment for modification of loan as prescribed by MFRS 9. In March 2020, the Bank Negara Malaysia (BNM) introduced measures

  Determine the fees billed to customers on account

On October 1, Assuming the October 31 balance was $57,500, determine the fees billed to customers on account during October.

  Which is an inventory of grocery items

An inventory of grocery items where the shelves are stocked from the back would be similar to which cost formula?specific identification

  Calculate the price of the bond four percent

Cullumber issued $380,000 of 5%, 5-year bonds on January 1, 2021. Interest is payable semi-annually. Calculate the price of the bond: (a) 4%

  What perceive to be the norms of the selected ethnic group

Explain how some of your norms differ from what you perceive to be the norms of the selected ethnic group (remember to be tactful, objective, and kind).

  Questionrest haven is a senior living community that

questionrest haven is a senior living community that provides a full range of services including independent living

  Why is accounting so important for a nations economy

Why is accounting so important for a nations economy - demonstrate a clear understanding of the key elements of assignment questions

  Explain how reported accounting numbers might affect

Explain how reported accounting numbers might affect an individual's perceptions and actions. Cite two examples.

  Find what is the payback period of the investment

Find What is the payback period of this investment?The system would cost $40,000 upfront. It will generate net cash flows of $3,300 per year for 15 years.

  What is the present value of the bond at issuance

What is the present value of the bond at issuance? Based on the same information, what is the amount of interest expense to be recorded on June 30, 2018?

  Determining compound intrest

In 1777, Jacob DeHaven loaned George Washington's Army $450,000 in gold and supplies. Due to a disagreement over the method of repayment 9gold vs. Continental money), DeHaven was never repaid, dying penniless.

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