subject
Business, 15.07.2021 18:00 giraffegurl

Splish Brothers Inc. had the following transactions involving notes payable. July 1, 2020 Borrows $61,500 from First National Bank by signing a 9-month, 8% note. Nov. 1, 2020 Borrows $73,800 from Lyon County State Bank by signing a 3-month, 6% note. Dec. 31, 2020 Prepares adjusting entries. Feb. 1, 2021 Pays principal and interest to Lyon County State Bank. Apr. 1, 2021 Pays principal and interest to First National Bank. Prepare journal entries for each of the transactions.

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 21.06.2019 19:30, ThunderThighsM8
What preforms the best over the long term? a) bonds b) mutual funds c) stocks d) certificate of deposit
Answers: 2
image
Business, 22.06.2019 00:00, famouzgal
Ok, so, theoretical question: if i bought the mona lisa legally, would anyone be able to stop me from eating it? why or why not?
Answers: 1
image
Business, 22.06.2019 00:40, lindseybug
Guardian inc. is trying to develop an asset-financing plan. the firm has $450,000 in temporary current assets and $350,000 in permanent current assets. guardian also has $550,000 in fixed assets. assume a tax rate of 40 percent. a. construct two alternative financing plans for guardian. one of the plans should be conservative, with 70 percent of assets financed by long-term sources, and the other should be aggressive, with only 56.25 percent of assets financed by long-term sources. the current interest rate is 12 percent on long-term funds and 7 percent on short-term financing. compute the annual interest payments under each plan.
Answers: 3
image
Business, 22.06.2019 20:40, IkweWolf1824
Which of the following would indicate an improvement in a company's financial position, holding other things constant? a. the inventory and total assets turnover ratios both decline. b. the debt ratio increases. c. the profit margin declines. d. the times-interest-earned ratio declines. e. the current and quick ratios both increase.
Answers: 3
You know the right answer?
Splish Brothers Inc. had the following transactions involving notes payable. July 1, 2020 Borrows $6...

Questions in other subjects:

Konu
Mathematics, 04.07.2020 22:01
Konu
Mathematics, 04.07.2020 22:01