Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Interest revenue:
At the end of 2012, a manufacturer sells machinery to a customer for $90,000. $30,000 is paid immediately, and the customer signs a promissory note for the remainder. The note specifies that another $30,000 is to be paid at the end of 2013, and the final $30,000 is to be paid at the end of 2014.
A rate of 6% per year would normally be charged for this type of financing. However, the manufacturer provides free financing; no interest is charged.
a. What amount should be recorded for the note receivable when this sale is made?
b. How much sales revenue should be recognized in 2012?
c. How much interest revenue should the manufacturer recognize in 2013?
d. How much of the 2013 payment will be applied towards reducing the principal amount of the note receivable?
e. How much interest revenue should the manufacturer recognize in 2014?
Time tickets for factory employees during the month of August are summarized as follows. Prepare a journal entry to record the total factory payroll, the indirect payroll and the d
Q. What is Capitalized Interest? Capitalized Interest - INTEREST cost incurred during time required to bring an ASSET tothe condition and location for its intended use and incl
is there anyone can help me to do it?
Mr N. M. is lucky to have a lottery prize of Rs 20 million. He does not have any liability and does not have any claimant over this money. He has the following alternatives: (i)
If dividends per share are in surplus of earnings per share then a company must be making the dividend payment out of reserves. In other sense the net asset value of the business w
Q. Calculation of the change in finance costs? Past ACCA examiners have occupied inconsistent approaches regarding the calculation of the change in finance costs due to settlem
By classifying by function Under this format, the expenses of the company are classified into 5 major categories i.e. Cost of sales [(opening stock + purchases – closing st
Good will on consolidation Good will on consolidation arises when the purchase consideration paid by the holding company is different from the value of the net assets acquired i
Recording Business Transactions ACCOUNT. An account is an individual record or form to record and précis information for each liability, asset, or owner's equity transactio
#The ABC Organization Unadjusted Trial Balance As of 31 December 2012 Account Codes Dr Cr Cash 10,789 Furniture and fixtures 60,000 Supplies inventory 8,531 Pledged contributions r
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd