User Account

All Pages

What is the impact on the accounting equation

Assignment Help Managerial Accounting
Reference no: EM133101220

Question - On December 1st, 2010, you buy a piece of equipment for $400,000. You paid $80,000 cash and issued a five-year, 4% note payable for the remainder. The principal is due on November 30, 2014 and interest is payable every May 31 and November 30th of the year. What is the impact on the accounting equation of the journal entry to be made on December 31st, 2010 to record the interests?

Reference no: EM133101220

Questions Cloud

Psychographics of your current and new market segment : Compare and contrast the similarities and differences regarding the needs, wants, and psychographics of your current and new market segment.
At what amount should johnstone record the lease liability : A 10% interest rate is implicit in the lease agreement. At what amount should Johnstone record the lease liability on January 1, 2021
Organizational leadership-logistics outsourcing : Considering the advice offered by John Kotter in the article titled "Leading Change: Why Transformation Efforts Fail,"
Compute the band yield to maturity : The 15-year, $1,000 par value bonds of Waco Industries pay 8 percent interest annually. Compute the band's yield to maturity
What is the impact on the accounting equation : On December 1st, 2010, you buy a piece of equipment for $400,000. What is the impact on the accounting equation of the journal entry
The dynamic cell : Eukaryotic cells are more structurally advanced than prokaryotic cells. Describe the structure and function of each of the eukaryotic organelles.
Appreciation for differences that affect communication : 1) Which of the following includes all the characteristics and experiences that identify each of us as individuals?
Determine the dollar amount : Cost of goods purchased for resale FY 2020 was $200,000. Use this information to determine the dollar amount of the FY 2020 cost of goods sold
Compensation and reimbursement plans : Describe the market forces making this type of compensation program popular. Examine the three types of inpatient or outpatient reimbursement systems?

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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