Learning Objective 1, 5 2. Long-term liability $685,920

Inchirah Company borrowed $750,000 on January 1, 2012, by issuing $800,000, 8% mortgage note payable. The terms call for semiannual installment payments of $60,000 on June 30 and December 31.

Requirements
1. Prepare the journal entries to record the mortgage loan and the first two instalment payments.
2. Indicate the amount of mortgage note payable to be reported as a current liability and as a long-term liability at December 31, 2012.

Lambert manufacturing has $100,000 to invest in either project a or project b. the following data are available on these projects (ignore income taxes.): project a project b cost of equipment needed now $100,000 $60,000 working capital investment needed now - $40,000 annual cash operating inflows $40,000 $35,000 salvage value of equipment in 6 years $10,000 - both projects will have a useful life of 6 years and the total cost approach to net present value analysis. at the end of 6 years, the working capital investment will be released for use elsewhere. lambert's required rate of return is 14%. the net present value of project b is:

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)

Four students are at an extracurricular activity fair at their high school and are trying to decide which clubs to join. some information about the students is listed in this chart: which describes which ctso each student should join?