What were the balances of interest expense

Assignment Help Accounting Basics
Reference no: EM133112111

Question - On October 1, Ajax Delivery Services signed a 3-month note for $60,000 at 7% interest. If the balance of interest expense in the trial balance column was $800, what were the balances of interest expense in the adjusted trial balance and income statement columns of the worksheet on December 31 assuming no previous adjustments for this note were made?

Reference no: EM133112111

Questions Cloud

What is the bond price : A zero-coupon, five-year annual corporate bond has a par value of $1000. The estimated risk-neutral probability of default for each year is 3%, and the recovery
Case study of madison manufacturing : Madison Manufacturing is considering a new machine that costs $400,000 and would reduce pre-tax manufacturing costs by $120,000 annually. Madison would use the
Calculate the net present value of cash flow stream : 1. Calculate the net present value (NPV) of the following cash flow stream if the required rate is 12%:
Ownership fraction based on today valuation : If a VC want to invest $2 Million today, what is the ownership fraction based on today valuation?
What were the balances of interest expense : If the balance of interest expense in the trial balance column was $800, what were the balances of interest expense in the adjusted trial balance
Enterprise value before the share repurchase : -Firm D is an all-equity firm. It currently has a stock price of $20 with 10 million shares outstanding. It has $100 million cash and no debt. Suppose firm D us
What is the firm net operating profit after taxes : A firm has $100,000 in revenue. Cost of goods sold is $45,000 and depreciation expense is $25,000. The firm has issued $100,000 in bonds that yield 6%. It has 5
What is total profit or loss : Little Friskies has an option that has a strike price of $26.20 and expires today. the value of the stock today is 30.38. When the option was quoted at 3.22, yo
Are G Ltd share options dilutive or anti-dilutive : Are G Ltd's share options dilutive or anti-dilutive? How do we compute diluted EPS for a company that has dilutive options

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.

  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!

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