Business, 04.12.2019 20:31 hollimonpat

Laverne purchased a new piece of equipment to be used in its new facility. the $370,000 piece of equipment was purchased with a $50,000 down payment and with cash received through the issuance of a $320,000, 8% 5-year mortgage payable issued on january 1, 2017. the terms provide for annual installment payments of $80,146 on december 31

instructions:

(a) prepare an installment payments schedule for the first three payments of the notes payable.

(b) prepare the journal entry related to the notes payable for december 31, 2017.

(c) show the balance sheet presentation for this obligation for december 31, 2017.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 20:30

Afirm wants to strengthen its financial position. which of the following actions would increase its current ratio? a. reduce the company's days' sales outstanding to the industry average and use the resulting cash savings to purchase plant and equipment.b. use cash to repurchase some of the company's own stock.c. borrow using short-term debt and use the proceeds to repay debt that has a maturity of more than one year.d. issue new stock, then use some of the proceeds to purchase additional inventory and hold the remainder as cash.e. use cash to increase inventory holdings.

Answers: 3

Answer

Business, 23.06.2019 01:30

True or false: it is generally better to concentrate your exercise time on the weekends only for maximum aerobic benefit.

Answers: 1

Answer

Business, 23.06.2019 08:50

Walking through the grocery store, ramon sees a "buy 2, get 1 free" deal on laundry detergent. even though he currently has plenty of detergent he decides to take home all three bottles. ramon's decision seems to have been based mostly on his immediate need for the detergent the low price of alternative brands the limited income he presently earns the sale price offered for the detergent

Answers: 1

Answer

Business, 23.06.2019 09:50

The goal of an economist who formulates new theories is to a. provide an interesting framework of analysis, whether or not the framework turns out to be of much use in understanding how the world works. b. provoke stimulating debate in scientific journals. c. contribute to an understanding of how the world works. d. demonstrate that economists, like other scientists, can formulate testable theories.

Answers: 1

Answer

You know the right answer?

Laverne purchased a new piece of equipment to be used in its new facility. the $370,000 piece of equ...

Questions