Homework Answers
Journal entries for first two installment payments are given below:
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Cullumber Well Services Ltd. purchased equipment for $887.000 on September 30, 2021. The equipment was purchased...
Need help for B Question 5 Crane Well Services Ltd. purchased equipment for $910,000 on September...
Need help for B
Question 5 Crane Well Services Ltd. purchased equipment for $910,000 on September 30, 2017. The equipment was purchased with a $127,000 cash down payment and through the issue of a $783,000, 5-year, 3.1% mortgage note payable for the balance. The terms provide for the mortgage to be repaid in monthly blended payments of $14,104 starting on October 31. (a) Your answer is correct. Record the issue of the note payable on September 30. (Credit account titles...
On September 30, 2017, Coldwater Corporation purchased equipment for $1,020,000. The equipment was purchased with a...
On September 30, 2017, Coldwater Corporation purchased equipment
for $1,020,000. The equipment was purchased with a $100,000 down
payment and a three-year, 4%, $920,000 bank loan for the balance.
The terms provide for payment of the bank loan with quarterly fixed
principal payments of $76,667, plus interest, starting on December
31. Coldwater has a November 30 year end and records adjusting
entries annually.
(I only need help with the boxes in red!) Thank u so much
Record the first two...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a $80,000 down payment and a three-year, 3%, 5950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Sheridan Inc. issues a $336,000, 10-year, 6% mortgage note payable on November 30, 2021, to obtain...
Sheridan Inc. issues a $336,000, 10-year, 6% mortgage note payable on November 30, 2021, to obtain financing for a new building. The terms provide for monthly instalment payments. (a) Prepare the journal entries to record the mortgage loan on November 30, 2021, and the first two payments on December 31, 2021, and January 31, 2022, assuming the payment is a fixed principal payment of $2,800. (Credit account titles are automatically indented when the amount is entered. Do not indent manually....
On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a...
On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a $80,000 down payment and a three-year, 4%, $950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole dollar, e.g....
Problem 10-3A On September 30, 2017 Coldwater Corporation purchased equipment for $1.030,000. The equipment was purchased...
Problem 10-3A On September 30, 2017 Coldwater Corporation purchased equipment for $1.030,000. The equipment was purchased with a $80,000 down payment and a three-year, 3%, $950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually Record the purchase of equipment on September 30, 2017. (Hound answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,210,000. The equipment was purchased...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,210,000. The equipment was purchased with a $130,000 down payment and a three-year, 4%, $1,080,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $90,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Need help for B
Question 5 Crane Well Services Ltd. purchased equipment for $910,000 on September 30, 2017. The equipment was purchased with a $127,000 cash down payment and through the issue of a $783,000, 5-year, 3.1% mortgage note payable for the balance. The terms provide for the mortgage to be repaid in monthly blended payments of $14,104 starting on October 31. (a) Your answer is correct. Record the issue of the note payable on September 30. (Credit account titles...
On September 30, 2017, Coldwater Corporation purchased equipment
for $1,020,000. The equipment was purchased with a $100,000 down
payment and a three-year, 4%, $920,000 bank loan for the balance.
The terms provide for payment of the bank loan with quarterly fixed
principal payments of $76,667, plus interest, starting on December
31. Coldwater has a November 30 year end and records adjusting
entries annually.
(I only need help with the boxes in red!) Thank u so much
Record the first two...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a $80,000 down payment and a three-year, 3%, 5950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Sheridan Inc. issues a $336,000, 10-year, 6% mortgage note payable on November 30, 2021, to obtain financing for a new building. The terms provide for monthly instalment payments. (a) Prepare the journal entries to record the mortgage loan on November 30, 2021, and the first two payments on December 31, 2021, and January 31, 2022, assuming the payment is a fixed principal payment of $2,800. (Credit account titles are automatically indented when the amount is entered. Do not indent manually....
On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a $80,000 down payment and a three-year, 4%, $950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole dollar, e.g....
Problem 10-3A On September 30, 2017 Coldwater Corporation purchased equipment for $1.030,000. The equipment was purchased with a $80,000 down payment and a three-year, 3%, $950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually Record the purchase of equipment on September 30, 2017. (Hound answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,210,000. The equipment was purchased with a $130,000 down payment and a three-year, 4%, $1,080,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $90,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
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