User Account

All Pages

What is the carrying amount of notes receivable on december

Assignment Help Accounting Basics
Reference no: EM132691041

On December 31, 2019. Jan Company sold used equipment with carrying amount of P2,000,000 in exchange for a non-interest-bearing note of P5,000,000 requiring ten annual payments of P500,000. The first payment was made on December 31, 2020. The market interest for similar note was 12%. The present value of an ordinary annuity of 1 is 5.65 for ten periods and 5.33 for nine periods.

Problem 1: What is the carrying amount of notes receivable on December 31, 2020?

Reference no: EM132691041

Questions Cloud

How do determine the bad debt expense to be reported : Cervantes Inc.'s balance sheet, If doubtful accounts are 3% of accounts receivable, determine the bad debt expense to be reported for 2019.
Find what should be the balance in accounts receivable : Find What should be the balance in accounts receivable at December 31, 2020, before subtracting the allowance for doubtful accounts?
What are authentication factors : What are authentication factors and what are the risks associated with them? It must be at least 450 words and have references. No plagiarism and no grammar.
Proposal of innovative forecasting and planning : Proposal of Innovative Forecasting and Planning for the company's Strategic HR Future Planning Development (Note: in Tabular Format) supported with textual
What is the carrying amount of notes receivable on december : What is the carrying amount of notes receivable on December 31, 2020? On December 31, 2019. Jan Company sold used equipment with carrying amount of P2,000,000
What is the daily interest rate for credit card : A credit card statement indicates an annual interest rate of 16.7% to be charged on a daily basis on any overdue balance.
What is the amount of proceeds from discounting note on june : What is the amount of proceeds from discounting the note on June 30, 2020? The note is dated May 1, 2020 has a term of 90 days, a face value of P 6,000,000
Discuss what went right during the redesign : If you have you been involved with a company doing a redesign of business processes, discuss what went right during the redesign and what went wrong from your.
What is the expected return on the loan : What is the expected return on the loan using the Moody's Analytics Portfolio Manager model?

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