ACC 557 Week 7 Chapter 9 and Chapter 10 Quiz( all possible questions)
Compute the total cost of borrowing for these bonds, assuming the bonds were issued at 104.............
E10-15: Tucki Co. receives $ 240,000 when it issues a $ 240,000, 8 %, mortgage note payable to finance the construction of a building at December 31, 2014. The terms provide for semiannual installment payments of $ 17,660 on June 30 and December 31. Prepare the journal entries to record the mortgage loan and the first two installment payments.............
P10-1A: On January 1, 2014, the ledger of Shumway Company contains the following liability accounts.............
a) Journalize the January transactions............
b) Journalize the adjusting entries at January 31 for the outstanding notes payable.( Hint: Use one-third of a month for the DeKalb Bank note.)............
c) Prepare the current liabilities section of the balance sheet at January 31, 2014. Assume no change in accounts payable.............
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ACC 557 Week 7 Chapter 9 and Chapter 10 Quiz( all possible questions)
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