Homework Answers
| SOLUTION: | ||||||
| Date | Cash Paid | Interest Expenses | Decrease in carrying value | Carrying Value | ||
| 01/01/2018 | $1,30,000.00 | |||||
| 01/31/18 | $1,646.79 | $975.00 | $671.79 | $1,29,328.21 | ||
| 02/28/18 | $1,646.79 | $969.96 | $676.83 | $1,28,651.38 | ||
| 03/31/18 | $1,646.79 | $964.89 | $681.90 | $1,27,969.48 | ||
| 04/30/18 | $1,646.79 | $959.77 | $687.02 | $1,27,282.46 | ||
| WORKING NOTES: | ||||||
| CALCULATION OF INTEREST RATE ON LOAN | ||||||
| Interest Rate = | (Interest Expenses of Jan / Carrying Value ) X 100 | |||||
| Interest Rate = | ( $ 975 / $ 130,000) X 100 | |||||
| Interest Rate = | 0.75% | |||||
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Using this information how do you do the amorization schedule and
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The following information applies to the questions displayed below! On January 1, 2018, Gundy Enterprises purchases an office for $239,000, paying $49.000 down and borrowing the remaining are due at the end of each month, with the first payment due on January 31, 2018 and borrowing the remaining $190,000, signing a 9%, 10-year mortgage. Installment payments of $2,406.84 2. Complete the...
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please explain how to solve
On January 1, 2018, Gundy Enterprises purchases an office for $294,000, paying $54,000 down and borrowing the remaining $240,000, signing a 7 %, 10- year mortgage. Installment payments of $2,786.60 are due at the end of each month, with the first payment due on January 31, 2018 value 9.09 points Required information Required: 1. Record the purchase of the building on January 1, 2018. (f no entry is required for a transactionlevent, select "No joumal...
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