User Account

All Pages

What is the carrying value of the note

Assignment Help Accounting Basics
Reference no: EM132903623

Question - On January 1, 2021, Water Bottle Company sold inventory to a customer, accepting a noninterest-bearing note promising payment of $230,000 in 4 years. The effective interest rate is 3.5%. (You may round all dollar amounts to the nearest whole dollar.)

a. Record the sale of inventory on January 1, 2021 (ignoring the related entry for COGS).

b. Record the adjustment required on December 31, 2021.

c. What is the carrying value of the note AFTER the adjustment on December 31, 2021?

Reference no: EM132903623

Questions Cloud

Discuss the purpose of the plan and the benefits : The CEO has once again called you up to her office and wishes to explore CSR and sustainability in more depth. In particular, the CEO wishes to have more inform
What is the value of Jacks annual payment amount X : Assume that all annual repayments will paid at end of each year (the first payment will be at the end of the first year), what is value of Jacks annual payment
State the break even point in units : If the unit selling price is $162 and the variable cost per unit is $63 and the total fixed costs are $599,007, state the break even point in units
Explain dual and triple hierarchies inside organization : Explain about dual and triple hierarchies inside an organization (with example)
What is the carrying value of the note : The effective interest rate is 3.5%. What is the carrying value of the note AFTER the adjustment on December 31, 2021
How would that affect women rights : If the trend changed toward traditional (pre-World War II) families, how would that affect women's rights?
Explain the importance of decision making for managers : How to explain the importance of decision making for managers at each of the three primary organization levels along with the associated decision characteristic
What is the weighted average unit contribution margin : The sales mix is 43% for products A while product B's is the remainder (or 100% less 43. What is the weighted average unit contribution margin
Review the variables provide by nationwide insurance : Assume that you decided to expand the physical location of your business. In doing so, you speak with your insurance agent regarding obtaining applicable insura

Reviews

Write a Review

Accounting Basics Questions & Answers

  Operating leverage and break-even analysis

OPERATING LEVERAGE AND BREAK-EVEN ANALYSIS Olinde Electronics Inc. produces stereo components that sell at P = $100 per unit. Olinde's fixed costs are $200,000, variable costs are $50 per unit, 5,000 components are produced and sold each year, EBI..

  Show supporting computations in good form

On January 1, 2009 Mykoo Corporation issued $1 million in five year, 10% serial bonds to be repaid in the amount of $200,000 on January 1, 2010, 2011, 2012, 2013, and 2014. Interest is payable at the end of each year.

  Suppose that your learning team is group of international

suppose that your learning team is group of international reporters. youve been tasked with describing and critiquing

  Calculate the maximum you could charge for marketing plan

Additionally, if the company requires a 12% return on its investments, calculate the maximum you could charge for your marketing plan

  Determine the following list of accounts which of the

examine the following list of accountsnote payableaccumulated depreciation buildingalex kenzy drawingaccounts

  Calculate the ratios accurately using the formulas

Apply appropriate ratios and vertical and horizontal analysis to recommend business decisions and Calculate the ratios accurately using the formulas provided

  What are the tax consequences of transactions

A and B each has owned 50% of the stock of X Corp for many years. What are the tax consequences of the following transactions

  In the corporate form of business organization legal

in a corporate form of business organization legal capital is best defined asa.the amount of capital the state of

  Compute the annual gross profit for the peanut division

Appropriate Transfer Prices: Opportunity Costs - Compute the annual gross profit for the Peanut Division using a transfer price of $2.00

  On july 1 2010 brower industries inc issued 8000000 of

on july 1 2010 brower industries inc. issued 8000000 of 5-year 11 bonds at an effective interest rate of 12 receiving

  Assume the partnership income-sharing agreement calls for

o. guillen beginning capital 60000 and k. williams beginning capital 90000 are partners. during 2010 the partnership

  How much the present value of the lease payment

Burke's incremental borrowing rate is 5%, and the implicit rate of the lessor is unknown. How much the present value of the lease payment?

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