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I am doing 5700*10%*60/360 but keep getting the wrong
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14 Ch.9 &10 (90 min.) i...
Help Save & Exit On April 12, Hong Company agrees to accept a 60-day, 7%, $9,600...
Help Save & Exit On April 12, Hong Company agrees to accept a 60-day, 7%, $9,600 note from Indigo Company to extend the due date on an overdue account. What is the journal entry that Indigo Company would make, when it records payment of the note on the maturity date? (Use 360 days a year.) Multiple Choice Debit Notes Payable $9.600, debit Interest Expense $112, credit Cash $9.712 Debit Cash $9.712, credit Interest Revenue $112, credit Notes Receivable $9,600 Debit...
14 Ch. 9 8 10 90 min.) Help Save & Ex Submit On January 1, a...
14 Ch. 9 8 10 90 min.) Help Save & Ex Submit On January 1, a company issued and sold a $391,000,7%, 10 year bond payable and received proceeds of $386.000. Interesi payable each Jurve 30 and December 31. The company uses the straight line method to amortize the discount. The journal entry to record the first interest payment is Multiple Choice Debit Bond Interest Expense $13,685 Credit Cash $13.685 Debit Dond Interest Expense 5130 Credit Cash $13689 Credit Discount...
please help Submit #4 Ch.9 810 (90 min.) Help Save & Exit On January 1, Parson...
please help
Submit #4 Ch.9 810 (90 min.) Help Save & Exit On January 1, Parson Freight Company issues 70%, 10-year bonds with a par value of $4,000,000. The bonds pay interest semiannually. The market rate of interest is 8.0% and the bond selling price was $3,728.197. The bond issuance should be recorded as: Multiple Choice O Debit Cash $3,728.197. debit interest Expense $271.803, credit Bonds Payable $4.000.000 O Debit Cash $3,728,197, credit Bonds Payable $3728,197 o o Debit Cash...
10-10A I am not sure what I am doing wrong... I tried 98400 for A and...
10-10A
I am not sure what I am doing wrong... I tried 98400 for A and
49200 for B along with the answers shown.
Problem 10-10A Sunland Company sold $2,460,000, 5%, 10-year bonds on January 1, 2019. The bonds were dated January 1, 2019, and pay interest annually on January 1. Sunland Company uses the straight-line method to amortize bond premium or discount. Your answer is correct. Prepare all the necessary journal entries to record the issuance of the bonds...
17) Jasper makes a $89,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record...
17) Jasper makes a $89,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should be: A) Debit Notes Receivable for $89,000; credit Cash $89,000. B) Debit Notes Payable $89,000: credit Accounts Payable $89,000. C) Debit Accounts Receivable $89,000; credit Notes Receivable $89,000. D) Debit Notes Receivable $89.000; credit Sales $89,000. E) Debit Cash $89,000; credit Notes Receivable for $89,000. 18) Jasper makes a $50,000, 90-day, 9,0% cash loan to Clayborn Co. Jasper's entry to record...
14 On July 1, Shady Creek Resort borrowed $310,000 cash by signing a 10-year, 9% Installment note requiring equal payme...
14 On July 1, Shady Creek Resort borrowed $310,000 cash by signing a 10-year, 9% Installment note requiring equal payments each June 30 of $48,304. What is the journal entry to record the first annual payment? points (8 01:57:27 ) Debit Cash $310,000; debit Interest Expense 548,304; credit Notes Payable $358,304 O Debit Interest Expense $27.900: credit Cash $27.900. O Debit Interest Expense $48,304; credit Cash $48,304 Debit Interest Expense $27.900; debit Notes Payable $20,404; credit Cash $48,304 Debit Interest...
QUESTION 9 On October 1, 2015 a company sold some merchandise to a customer for $50,000....
QUESTION 9 On October 1, 2015 a company sold some merchandise to a customer for $50,000. In payment, the company agreed to accept an 8% note requiring the receipt of interest and principal on June 30, 2016. Assume all correct adjusting entries were made at year end December 31, 2015. The journal entry on the collection date, June 30, 2016 would include a A $1,000 credit to interest receivable B. $53,000 credit to cash C $2,000 debit to interest revenue...
please help with date and numbers. i am not quite sure if is correct. thank you...
please help with date and numbers. i am not quite sure if is
correct. thank you
??? POST. 1 Mar. 3 Village Dock Café purchased merchandise on account, $6,000. Apr. 2 Village Dock Café issued a 60-day, 10% note to pay off the account. Village Dock Café paid on the maturity date $3,200 plus interest on the note issued on April 2, and issued a new 90-day, 14% note for the unpaid balance. ??? Village Dock Café paid off the...
i am having trouble doinr the trial endinr balance as I keep getting wrong way how...
i am having trouble doinr the trial endinr balance as I keep
getting wrong way how to calulated?
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 3,850 8,850 2,850 23,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 5,400 3,400 4,400 0 16,500 8,850 $38,550 $38,550 The following is a summary of the transactions for the year: 1....
These are the journal entries to the accounts in the general ledgar. I am having trouble...
These are the journal entries
to the accounts in the general ledgar. I am having trouble on how
to make a trial balance. It has 12 columns to fill in data with
account type and the amount that each account type has but I can
not figure the pieces out.
28 N o Q H K M notes payable Date Explanation Ref Debit Credit Balance 4-Sep equipment 20000 20000 common stock Date Explanation Ref Debit Credit Balance 1-Sep cash 25000...
Help Save & Exit On April 12, Hong Company agrees to accept a 60-day, 7%, $9,600 note from Indigo Company to extend the due date on an overdue account. What is the journal entry that Indigo Company would make, when it records payment of the note on the maturity date? (Use 360 days a year.) Multiple Choice Debit Notes Payable $9.600, debit Interest Expense $112, credit Cash $9.712 Debit Cash $9.712, credit Interest Revenue $112, credit Notes Receivable $9,600 Debit...
14 Ch. 9 8 10 90 min.) Help Save & Ex Submit On January 1, a company issued and sold a $391,000,7%, 10 year bond payable and received proceeds of $386.000. Interesi payable each Jurve 30 and December 31. The company uses the straight line method to amortize the discount. The journal entry to record the first interest payment is Multiple Choice Debit Bond Interest Expense $13,685 Credit Cash $13.685 Debit Dond Interest Expense 5130 Credit Cash $13689 Credit Discount...
please help
Submit #4 Ch.9 810 (90 min.) Help Save & Exit On January 1, Parson Freight Company issues 70%, 10-year bonds with a par value of $4,000,000. The bonds pay interest semiannually. The market rate of interest is 8.0% and the bond selling price was $3,728.197. The bond issuance should be recorded as: Multiple Choice O Debit Cash $3,728.197. debit interest Expense $271.803, credit Bonds Payable $4.000.000 O Debit Cash $3,728,197, credit Bonds Payable $3728,197 o o Debit Cash...
10-10A
I am not sure what I am doing wrong... I tried 98400 for A and
49200 for B along with the answers shown.
Problem 10-10A Sunland Company sold $2,460,000, 5%, 10-year bonds on January 1, 2019. The bonds were dated January 1, 2019, and pay interest annually on January 1. Sunland Company uses the straight-line method to amortize bond premium or discount. Your answer is correct. Prepare all the necessary journal entries to record the issuance of the bonds...
17) Jasper makes a $89,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should be: A) Debit Notes Receivable for $89,000; credit Cash $89,000. B) Debit Notes Payable $89,000: credit Accounts Payable $89,000. C) Debit Accounts Receivable $89,000; credit Notes Receivable $89,000. D) Debit Notes Receivable $89.000; credit Sales $89,000. E) Debit Cash $89,000; credit Notes Receivable for $89,000. 18) Jasper makes a $50,000, 90-day, 9,0% cash loan to Clayborn Co. Jasper's entry to record...
14 On July 1, Shady Creek Resort borrowed $310,000 cash by signing a 10-year, 9% Installment note requiring equal payments each June 30 of $48,304. What is the journal entry to record the first annual payment? points (8 01:57:27 ) Debit Cash $310,000; debit Interest Expense 548,304; credit Notes Payable $358,304 O Debit Interest Expense $27.900: credit Cash $27.900. O Debit Interest Expense $48,304; credit Cash $48,304 Debit Interest Expense $27.900; debit Notes Payable $20,404; credit Cash $48,304 Debit Interest...
QUESTION 9 On October 1, 2015 a company sold some merchandise to a customer for $50,000. In payment, the company agreed to accept an 8% note requiring the receipt of interest and principal on June 30, 2016. Assume all correct adjusting entries were made at year end December 31, 2015. The journal entry on the collection date, June 30, 2016 would include a A $1,000 credit to interest receivable B. $53,000 credit to cash C $2,000 debit to interest revenue...
please help with date and numbers. i am not quite sure if is
correct. thank you
??? POST. 1 Mar. 3 Village Dock Café purchased merchandise on account, $6,000. Apr. 2 Village Dock Café issued a 60-day, 10% note to pay off the account. Village Dock Café paid on the maturity date $3,200 plus interest on the note issued on April 2, and issued a new 90-day, 14% note for the unpaid balance. ??? Village Dock Café paid off the...
i am having trouble doinr the trial endinr balance as I keep
getting wrong way how to calulated?
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 3,850 8,850 2,850 23,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 5,400 3,400 4,400 0 16,500 8,850 $38,550 $38,550 The following is a summary of the transactions for the year: 1....
These are the journal entries
to the accounts in the general ledgar. I am having trouble on how
to make a trial balance. It has 12 columns to fill in data with
account type and the amount that each account type has but I can
not figure the pieces out.
28 N o Q H K M notes payable Date Explanation Ref Debit Credit Balance 4-Sep equipment 20000 20000 common stock Date Explanation Ref Debit Credit Balance 1-Sep cash 25000...
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