Entries by mary WAMBUGU

On September 1, 2018, Davis Co. issued a note payable to National Bank in the amount of $2,100,000, bearing interest at 10%, and payable in three equal annual principal payments of $700,000.

August 30, 2019 in /by

 On September 1, 2018, Davis Co. issued a note payable to National Bank in the amount of $2,100,000, bearing interest at 10%, and payable in three equal annual principal payments of $700,000. On this date, the bank’s prime rate was 11%. The first payment for interest and principal is scheduled for September 1, 2019.  At […]

 

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On January 1, 2018, Fortunato Co. leased a building to Chestnut Corp. for a ten-year term at an annual rental of $90,000.

August 30, 2019 in /by

On January 1, 2018, Fortunato Co. leased a building to Chestnut Corp. for a ten-year term at an annual rental of $90,000. At inception of the lease, Fortunato received $320,000 covering the first two years’ rent of $160,000 and a security deposit of $160,000. This deposit will not be returned to Chestnut upon expiration of […]

 

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Annapolis Company purchased a $4,000, 8%, 10-year bond at 101 and held it to maturity. The straight line method of amortization is used for both premiums & discounts

August 30, 2019 in /by

Question Annapolis Company purchased a $4,000, 8%, 10-year bond at 101 and held it to maturity. The straight line method of amortization is used for both premiums & discounts. What is the net cash received over the life of the bond investment?  (all money received minus all money paid, round to nearest whole dollar)   Looking […]

 

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Big Company purchased Small Company for $1,200,000. Small Company had assets with a fair value $1,075,000, and liabilities with a fair value of $200,000.

August 30, 2019 in /by

Question Big Company purchased Small Company for $1,200,000. Small Company had assets with a fair value $1,075,000, and liabilities with a fair value of $200,000. Use this information to determine the dollar value of goodwill? (round to nearest whole dollar)   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code […]

 

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