Business, 05.12.2019 06:31 Skylar8826
On november 1, 2021, quantum technology, a geothermal energy supplier, borrowed $8 million cash to fund a geological survey. the loan was made by nevada banccorp under a noncommitted short-term line of credit arrangement. quantum issued a nine-month, 12% promissory note. interest was payable at maturity. quantum’s fiscal period is the calendar year.
required:
1. prepare the journal entry for the issuance of the note by quantum technology.
2. & 3. prepare the appropriate adjusting entry for the note by quantum on december 31, 2021 and journal entry for the payment of the note at maturity. (for all requirements, if no entry is required for a transaction/event, select "no journal entry required" in the first account field. enter your answers in whole dollars.)
Answers: 1
Business, 22.06.2019 19:50
On july 7, you purchased 500 shares of wagoneer, inc. stock for $21 a share. on august 1, you sold 200 shares of this stock for $28 a share. you sold an additional 100 shares on august 17 at a price of $25 a share. the company declared a $0.95 per share dividend on august 4 to holders of record as of wednesday, august 15. this dividend is payable on september 1. how much dividend income will you receive on september 1 as a result of your ownership of wagoneer stock
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Business, 23.06.2019 05:20
What is difference between fiscal year and tax year? explain in the simplest way.
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Business, 23.06.2019 08:20
As task uncertainty and interdependence increase, are a more effective coordination mechanism than
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On november 1, 2021, quantum technology, a geothermal energy supplier, borrowed $8 million cash to f...
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