Record the following note receivable transactions in the journal of Aegean Realty. How much interest revenue did
Question:
Record the following note receivable transactions in the journal of Aegean Realty. How much interest revenue did Aegean earn this year? Use a 365-day year for interest computations, and round interest amounts to the nearestdollar.
Transcribed Image Text:
Sep Nov Loaned $15,000 cash to Carroll Fadal on a one-year, 10% note. Performed service for Turf Masters, receiving a 90-day, 8% note for $12,000. Received a $4,000, six-month, 11% note on account from Voleron, Inc. Accrued interest revenue for the year. 1 6 16 30
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
Aegean Realty earned interest revenue of 696 this year Rounded to nearest dollar DATE Se...View the full answer
Answered By
Usman Nasir
I did Master of Commerce in year 2009 and completed ACCA (Association of Chartered Certified Accountants) in year 2013. I have 10 years of practical experience inclusive of teaching and industry. Currently i am working in a multinational company as finance manager and serving as part time teacher in a university. I have been doing tutoring via many sites. I am very strong at solving numerical / theoretical scenario-based questions.
4.60+
16+ Reviews
28+ Question Solved
Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
Question Posted:
Students also viewed these Accounting questions
-
Record the following note receivable transactions in the journal of Arabian Realty. How much interest revenue did Arabian earn this year? Use a 365-day year for interest computations, and round...
-
Record the following note receivable transactions in the journal of Coral Realty. How much interest revenue did Coral earn this year? Use a 365-day year for interest computations, and round interest...
-
Record the following note receivable transactions in the journal of Celtic Realty. How much interest revenue did Celtic earn this year? Use a 365-day year for interest computations, and round...
-
Consider a property investment that you finance with 20% down payment. For the remaining, you borrow 2'300'000 at a 6% rate monthly amortized loan for 25 years. This property, with 2% of EBITDA as...
-
A 6.0-kg block, starting from rest, slides down a frictionless incline of length 2.0 m. When it arrives at the bottom of the incline, its speed is vf. At what distance from the top of the incline is...
-
Under what circumstances do most grandparent visitation statutes permit a grandparent to seek visitation rights? Why did the Supreme Court invalidate Washington's grandparent visitation statute?
-
Briefly describe the key features of a Control Risk Self Assessment (CRSA) system.
-
Figure 4-37 includes an EER diagram describing a publisher specializing in large edited works. Transform the diagram into a relational schema that shows referential integrity constraints (see Figure...
-
You have to deliver some 5.0-kg packages from your home to two locations. You drive for 2.0 h at 30 mi/h due east (call this segment 1 of your trip), then turn around and drive due west for 30 min at...
-
(a) Draw resonance structures for the carbocation that could be formed from (E)-2-butenyl trifluoromethanesulfonate. (b) One of the resonance structures for this carbocation should be a more...
-
Assume Dogwood Leaf Foods, Inc., experienced the following revenue and accounts receivable write-offs: Suppose Dogwood Leaf estimates that 1% of revenues will become uncollectible. Requirement 1....
-
Assume Port City Credit Union completed these transactions: Show what the company would report for these transactions on its 2010 and 2011 balance sheets and incomestatements. 2010 Apr 1 Dec 31...
-
Determine whether the statement is always true, sometimes true, or never true. Explain your answer. Alternate exterior angles are supplementary angles.
-
The final scores from an honors seminar in marketing were 65 55 70 80 90 100 50 75 Find the mean, median, and mode. Is one measure preferable to another. Why or why not?
-
Compare the use of the mean to the use of the median as a measure of central tendency. If you were taking a tough calculus class where 3 brilliant students out of 20 nevertheless received perfect...
-
Compare the following measures of dispersion: variance, standard deviation, mean absolute deviation, and range. (a) What are the benefits and disadvantages of each measure? (b) Which measure is the...
-
A sample of 20 workers in a small company earned the following weekly wages: $175, 175, 182, 175, 175, 200, 250, 225, 250, 200, 195, 200, 200, 190, 325, 300, 310, 325, 400, 225 (a) Calculate the mean...
-
In major league baseball, rookies earn a minimum salary of $100,000, whereas superstar players earn as much as $5 million per year. Do you think the mean or the median of major league salaries would...
-
\(\mathcal{L}^{p}\)-bounded martingales. A martingale \(\left(u_{n}, \mathscr{A}_{n}ight)_{n \in \mathbb{N}}\) on a \(\sigma\)-finite filtered measure space is called \(\mathcal{L}^{p}\)-bounded, if...
-
DC has unused FTC carryover from 2017 in the separate category for GC income as the result of income generated by a foreign branch. The income was foreign source general category income. In 2018 the...
-
Along with your classmates, write (anonymously) a relational transgression that you have committed. Describe how you did communicate, or how you could have communicated, in an attempt to repair the...
-
Wildwood Corporation has 7,000 shares of common stock outstanding. It declares a $1 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31....
-
The stockholders equity section of Jumes Corporations balance sheet consists of common stock ($8 par) $1,000,000 and retained earnings $300,000. A 10% stock dividend (12,500 shares) is declared when...
-
Indicate whether each of the following transactions would increase (+), decrease(??), or not affect (N/A) total assets, total liabilities, and total stockholders??equity. Stockholders' Transaction...
-
Jamie Lee is attracted to the low monthly payment advertised for a vehicle lease. She may well be able to afford a more expensive car than she originally thought. Jamie Lee really needs to think this...
-
Explain virtual hosting and how to use either name-based or IP-based virtual hosting.?
-
Discuss the role of literary allusion in satire as a means of subverting conventions and critiquing societal norms.
The Profile Of Political Leaders Archetypes Of Ascendancy 1st Edition - ISBN: 3319805827 - Free Book
Study smarter with the SolutionInn App