Homework Answers
3b) calculate following
| Interest expense | Reducing in carrying value | |
| First payment | 170000*7%*1/12 = 991.67 | 1973.84-991.67 = 982.17 |
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3-b. How much of the first payment goes to interest expense and how much goes to...
4. Total payments over the 10 years are $236,861 ($1,973.84 x 120 monthly payments). How much...
4. Total payments over the 10 years are $236,861 ($1,973.84 x 120 monthly payments). How much of this is interest expense and how much is actual payment of the loan? Actual payments on the loan Interest expense [The following information applies to the questions displayed below.) On January 1, 2018, Gundy Enterprises purchases an office for $217,000, paying $47,000 down and borrowing the remaining $170,000, signing a 7%, 10-year mortgage. Installment payments of $1,973.84 are due at the end of...
Using this information how do you do the amorization schedule and the other journal entey and...
Using this information how do you do the amorization schedule and
the other journal entey and last two question?
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...
On January 1, 2021, Gundy Enterprises purchases an office building for $327,000, paying $57,000 down and...
On January 1, 2021, Gundy Enterprises purchases an office building for $327,000, paying $57,000 down and borrowing the remaining $270,000, signing a 7%, 10-year mortgage. Installment payments of $3,134.93 are due at the end of each month, with the first payment due on January 31, 2021. 1. Record the purchase of the building on January 1, 2021. 2. Complete the first three rows of an amortization schedule. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)...
The following information applies to the questions displayed below.) On January 1, 2018, Gundy Enterprises purchases...
The following information applies to the questions displayed below.) On January 1, 2018, Gundy Enterprises purchases an office for $217,000, paying $ 47,000 down and borrowing the remaining $170,000, signing a 7%, 10-year mortgage. Installment payments of $1,973.84 are due at the end of each month, with the first payment due on January 31, 2018. Required: 3-a. Record the first monthly mortgage payment on January 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required...
On January 1, 2018. Gundy Enterprises purchases an office for $151,000, paying $41,000 down and borrowing...
On January 1, 2018. Gundy Enterprises purchases an office for
$151,000, paying $41,000 down and borrowing the remaining $110,000
signing a 7%, 10 year mortage. Installment payments kf $1,277.19
are dhe at the end kf each month, with the first payment due on
January 31, 2018.
equired: Record the purchase of the building on January 1, 2018. (If no entry is required for a transaction/event, sele View transaction list Journal entry worksheet Record the purchase of the building Note: Enter...
Required information [The following information applies to the questions displayed below.) On January 1, 2021, Gundy...
Required information [The following information applies to the questions displayed below.) On January 1, 2021, Gundy Enterprises purchases an office building for $239,000, paying $49,000 down and borrowing the remaining $190,000, signing a 9%, 10-year mortgage. Installment payments of $2,406.84 are due at the end of each month, with the first payment due on January 31, 2021. 4. Total payments over the 10 years are $288,821 ($2,406.84 120 monthly payments). How much of this is interest expense and how much...
please explain how to solve On January 1, 2018, Gundy Enterprises purchases an office for $294,000,...
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...
On January 1, 2021, Gundy Enterprises purchases an office building for $173,000, paying $43,000 down and borrowing the r...
On January 1, 2021, Gundy Enterprises purchases an office
building for $173,000, paying $43,000 down and borrowing the
remaining $130,000, signing a 9%, 10-year mortgage. Installment
payments of $1,646.79 are due at the end of each month, with the
first payment due on January 31, 2021.
Can anyone help me figure out how to get this
answer?
Required information [The following information applies to the questions displayed below.] On January 1, 2021, Gundy Enterprises purchases an office building for $173,000,...
Need steps to solve! thank you! Required information [The following information applies to the questions displayed...
Need steps to solve! thank you!
Required information [The following information applies to the questions displayed below.] On January 1, 2021, Gundy Enterprises purchases an office building for $206,000, paying $46,000 down and borrowing the remaining $160,000, signing a 9%, 10-year mortgage. Installment payments of $2,026.81 are due at the end of each month, with the first payment due on January 31, 2021. 4. Total payments over the 10 years are $243,217 ($2,026.81 x 120 monthly payments). How much of...
Required information of 4 The following information applies to the questions displayed below] On January 1, 2021, Gu...
Required information of 4 The following information applies to the questions displayed below] On January 1, 2021, Gundy Enterprises purchases an office building for $239,000, paying $49,000 down and borrowing the remaining $190,000, signing a 9% , 10- year mortgage. Installment payments of $2,406.84 are due at the end of each month, with the first payment due on January 31, 2021. 4. Total payments over the 10 years are $288,821 ($2,406.84 x 120 monthly payments). How much of this is...
4. Total payments over the 10 years are $236,861 ($1,973.84 x 120 monthly payments). How much of this is interest expense and how much is actual payment of the loan? Actual payments on the loan Interest expense [The following information applies to the questions displayed below.) On January 1, 2018, Gundy Enterprises purchases an office for $217,000, paying $47,000 down and borrowing the remaining $170,000, signing a 7%, 10-year mortgage. Installment payments of $1,973.84 are due at the end of...
Using this information how do you do the amorization schedule and
the other journal entey and last two question?
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...
The following information applies to the questions displayed below.) On January 1, 2018, Gundy Enterprises purchases an office for $217,000, paying $ 47,000 down and borrowing the remaining $170,000, signing a 7%, 10-year mortgage. Installment payments of $1,973.84 are due at the end of each month, with the first payment due on January 31, 2018. Required: 3-a. Record the first monthly mortgage payment on January 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required...
On January 1, 2018. Gundy Enterprises purchases an office for
$151,000, paying $41,000 down and borrowing the remaining $110,000
signing a 7%, 10 year mortage. Installment payments kf $1,277.19
are dhe at the end kf each month, with the first payment due on
January 31, 2018.
equired: Record the purchase of the building on January 1, 2018. (If no entry is required for a transaction/event, sele View transaction list Journal entry worksheet Record the purchase of the building Note: Enter...
Required information [The following information applies to the questions displayed below.) On January 1, 2021, Gundy Enterprises purchases an office building for $239,000, paying $49,000 down and borrowing the remaining $190,000, signing a 9%, 10-year mortgage. Installment payments of $2,406.84 are due at the end of each month, with the first payment due on January 31, 2021. 4. Total payments over the 10 years are $288,821 ($2,406.84 120 monthly payments). How much of this is interest expense and how much...
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...
On January 1, 2021, Gundy Enterprises purchases an office
building for $173,000, paying $43,000 down and borrowing the
remaining $130,000, signing a 9%, 10-year mortgage. Installment
payments of $1,646.79 are due at the end of each month, with the
first payment due on January 31, 2021.
Can anyone help me figure out how to get this
answer?
Required information [The following information applies to the questions displayed below.] On January 1, 2021, Gundy Enterprises purchases an office building for $173,000,...
Need steps to solve! thank you!
Required information [The following information applies to the questions displayed below.] On January 1, 2021, Gundy Enterprises purchases an office building for $206,000, paying $46,000 down and borrowing the remaining $160,000, signing a 9%, 10-year mortgage. Installment payments of $2,026.81 are due at the end of each month, with the first payment due on January 31, 2021. 4. Total payments over the 10 years are $243,217 ($2,026.81 x 120 monthly payments). How much of...
Required information of 4 The following information applies to the questions displayed below] On January 1, 2021, Gundy Enterprises purchases an office building for $239,000, paying $49,000 down and borrowing the remaining $190,000, signing a 9% , 10- year mortgage. Installment payments of $2,406.84 are due at the end of each month, with the first payment due on January 31, 2021. 4. Total payments over the 10 years are $288,821 ($2,406.84 x 120 monthly payments). How much of this is...
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