Business, 23.04.2020 16:16 madmonee8378
On March 14, Teal Co. accepted a 120-day, 6% note in the amount of $10,000 from AZC Co., a customer. On the due date of the note, AZC honors the note and pays in full. The journal entry that Teal would make to record payment of this note would include a credit to:
a. Note Receivable for $10,200.
b. Interest Revenue for $200.
c. Cash for $10,000.
d. Interest Receivable for $200.
Answers: 1
Business, 21.06.2019 20:40
On december 31, 2011, daggett company issued $750,000 of ten-year, 9% bonds payable for $700,353, yielding an effective interest rate of 10%. interest is payable semiannually on june 30 and december 31. prepare journal entries to reflect (a) the issuance of the bonds, (b) the semiannual interest payment and discount amortization (effective interest method) on june 30, 2012, and (c) the semiannual interest payment and discount amortization on december 31, 2012. round amounts to the nearest dollar.
Answers: 2
Business, 21.06.2019 21:30
Ryan terlecki organized a new internet company, capuniverse, inc. the company specializes in baseball-type caps with logos printed on them. ryan, who is never without a cap, believes that his target market is college and high school students. you have been hired to record the transactions occurring in the first two weeks of operations. issued 2,900 shares of $0.01 par value common stock to investors for cash at $29 per share. borrowed $68,000 from the bank to provide additional funding to begin operations; the note is due in two years. paid $1,000 for the current month's rent of a warehouse and another $1,000 for next month's rent. paid $1,440 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense). purchased furniture and fixtures for the warehouse for $16,000, paying $3,200 cash and the rest on account. the amount is due within 30 days. purchased for $2,800 cash the university of pennsylvania, notre dame, the university of texas at austin, and michigan state university baseball caps as inventory to sell online. placed advertisements on google for a total of $340 cash. sold caps totaling $1,900, half of which was charged on account. the cost of the caps sold was $1,100. (hint: make two entries.) made full payment for the furniture and fixtures purchased on account in (e). received $280 from a customer on account.
Answers: 2
Business, 22.06.2019 10:00
Which term best fits the sentence? is the process of reasoning, analyzing, and making important decisions. it’s an important skill in making career decisions. a. critical thinking b. weighing pros and cons c. goal setting
Answers: 1
Business, 22.06.2019 11:10
Suppose that the firm cherryblossom has an orchard they are willing to sell today. the net annual returns to the orchard are expected to be $50,000 per year for the next 20 years. at the end of 20 years, it is expected the land will sell for $30,000. calculate the market value of the orchard if the market rate of return on comparable investments is 16%.
Answers: 1
On March 14, Teal Co. accepted a 120-day, 6% note in the amount of $10,000 from AZC Co., a customer....
Health, 20.01.2020 12:31
Biology, 20.01.2020 12:31
History, 20.01.2020 12:31
History, 20.01.2020 12:31
Mathematics, 20.01.2020 12:31
History, 20.01.2020 12:31
Social Studies, 20.01.2020 12:31
Mathematics, 20.01.2020 12:31
English, 20.01.2020 12:31
Mathematics, 20.01.2020 12:31
Mathematics, 20.01.2020 12:31
Mathematics, 20.01.2020 12:31