Name different types of debenture. Pass the journal entries if a ABC Co. purchased a machinery of 240000 from CDE Co. and issued debenture of 100 each a. Issue at par b. Issue at 10% discount c. Issue at 10% premium Please help me to solve this question
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- At the beginning of the current year, Clan Company offers the customers a pottery bowl if they send in three boxtops from the products and P10. The entity estimated that 60% of the boxtops would be redeemed.During the year, the entity sold 675,000 boxes and customers redeemed 330,000 boxtops receiving 110,000 bowls. The cost of each bowl is P 25.What is the liability for outstanding premium at year-end?(Time Value, Gift Cards, Discounts) Presented below are two independent revenue arrangements for Colbert Company.InstructionsRespond to the requirements related to each revenue arrangement.(a) Colbert sells 3D printer systems. Recently, Colbert provided a special promotion of zero-interest financing for 2 years on any new 3D printer system. Assume that Colbert sells Lyle Cartright a 3D system, receiving a $5,000 zero-interest bearing note on January 1, 2017. The cost of the 3D printer system is $4,000. Colbert imputes a 6% interest rate on this zero-interest note transaction. Prepare the journal entry to record the sale on January 1, 2017, and compute the total amount of revenue to be recognized in 2017.(b) Colbert sells 20 nonrefundable $100 gift cards for 3D printer paper on March 1, 2017. The paper has a standalone selling price of $100 (cost $80). The gift cards expiration date is June 30, 2017. Colbert estimates that customers will not redeem 10% of these gift cards. The pattern…On January 1, 20x1, HYBE acquired a machine by using a 3%, P4,000,000 note due on January 1, 20x4. Interest is payable semi-annually. The effective interest rate is 12%. The carrying amount on initial recognition is 3,114,884. How to get the carrying amount on initial recognition?
- On January 1, 20x1, HYBE acquired a machine by using a 3%, P4,000,000 note due on January 1, 20x4. Interest is payable semi-annually. The effective interest rate is 12%. The carrying amount on initial recognition is 3,114,884 but I can't get that number. How did it arrive to that answer?Roeher Company sold $9,000 of its specialty shelving to Elkins Office Supply Co. on account. Prepare the entries when (a) Roeher makes the sale, (b) Roeher grants an allowance of $700 when some of the shelving does not meet exact specifications but still could be sold by Elkins, and (c) at year-end; Roeher estimates that an additional $200 in allowances will be granted to Elkins.Blue Devil Inc. sold goods to Black Mountain Corp. for $50,000 on March 1, 2020, accepting Black Mountain’s $50,000, 6-month, 6% note. Calculate the interest accompanied by this note. Please show your calculation steps. HTML EditorKeyboard Shortcuts
- Sprocket, Inc. ships 150 widgets (cost $500/unit) to Bender Co. on consignment on March 31, 2022. By June 30, 2022, Bender sold 90 of the consigned widgets at the price of $800 per unit. Bender notifies Sprocket of the sales, retains an 8% commission, and remits the cash due to Sprocket. Prepare the appropriate journal entries for Sprocket on June 30 Please dont provide answer in an image format thank youOn October 1, 2019, Alharam sold and delivered 3 doors to a builder for $40,000. The builder plans to install it in one of its “Parade of Homes” houses. Alharam accepted a 5-year, zerointerest bearing note with face amount of $53,240. The doors have cost of $25,500. An interest rate of 10% is an appropriate market rate of interest for this customer. What's the entries of this transactionand i wana explain of the entriesPolar Company purchased a Truck for the company use. The price was $48,000 plus 7% sales taxes. Company paid $5,000 in cash and signed a 4.75% note that requires 40 equal monthly payment at the end of each month for the rest. Provide answer to the following question on the Tab named Financial Accounting on the Excel file. Requirement: a) Provide the journal entry that must be made on the purchase date of truck. b) Determine the amount of monthly payment that must be made. c) Prepare Amortization Schedule. d) Provide the journal entry that company must make the for 2nd monthly payment. e) Provide the journal entry that company must make on the last monthly payment. Problem 5. Excel Sheet Formatting for Data Entry Elizabet wants to use the Excel Sheet in Tab called “Formatting” for compiling and recording company sales. You have been asked to help her in formatting the sheet in order (a) to reduce the chance of errors in typing, and (b) speedup data entry. Elizabet only will be typing…
- Amber Electronics Ltd. purchased machinery for Rs 198000 and issued 9% debentures of Rs 100 each to the vendors. Make journal entries if the debentures were issued (a) at par (b) at a premium of Rs 10 (c) at a discount of Rs 10.Cardinals Corporation purchased a computer on December 31, 2019, for $105,000, paying $30,000 down and agreeing to pay the balance in five equal installments of $15,000 payable each December 31 beginning in 2020. An assumed interest rate of 10% is implicit in the purchase price. Instructions (Round to two decimal places.) a. Prepare the journal entry(ies) at the date of purchase. b. Prepare the journal entry(ies) at December 31, 2020, to record the payment and interest (effective-interest method employed). c. Prepare the journal entry(ies) at December 31, 2021, to record the payment and interest (effective-interest method employed)Sunrise Flowers sells flowers to a customer on credit for $130 on October 18, with a cost of sale to Sunrise of $50. What entry to recognize this sale is required if Sunrise Flowers uses a periodic inventory system?
